Analysis

How Client Rate Pressures Have Changed Rainmaking

Law360, New York (August 15, 2017, 5:17 PM EDT) -- Twenty years ago, top lawyers — the rainmakers — could send a client a bill consisting of one line: "For services rendered," along with a dollar amount. They didn't worry that amount wouldn't be paid.

Now, when lead attorneys send out 50-page bills showing how work was done in five- or 10-minute increments, they know to carve out time for post-bill haggling over what will actually get paid, according to several experts.

This is just one way the practice of law has changed dramatically for rainmakers...
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