Billable-Hour System Under Scrutiny From Clients

Law360, New York (October 20, 2008, 12:00 AM EDT) -- With attorneys charging upward of $1,000 an hour for legal work despite the economic downturn, many clients are pushing to do away with the billable-hour system altogether.

Last month, for example, the Association of Corporate Counsel, which represents about 25,000 in-house corporate lawyers, launched its “Value Challenge,” an initiative designed to question conventional billing practices.

“We are saying we all have to stand back and reconsider what we've accepted for the last 15 or 20 years,” said Michael Roster, chairman of the “Value Challenge” steering committee....
To view the full article, register now.