Stop Rejecting Alternative Billing
By Michael Moradzadeh, Rimon PC | June 17, 2016, 5:03 PM EDT
There are numerous problems with the law firm structure, but among the biggest is billing pressure — especially for transactions. Recent stories have noted the emergence of the $2,000-an-hour partner. But this focus on hourly billing misses the larger picture, both for clients and for firms.
Corporate clients are increasingly growing unhappy with the efficiency of law firms, but when they are stuck in the hourly billing paradigm all they can do is demand greater discounts. The need to provide these discounts results in unhappy lawyers...