The Billable Hour Isn’t Dying – It’s Already Dead

The next time your outside counsel quotes an hourly rate, simply explain that the billable hour died long ago:

“Most law firms say they use the billable hour model for pricing most of their work, but the reality is different, according to a new report. Largely because of budgets and caps imposed by clients, 80 to 90 percent of law firm work is done outside of the traditional billable hour model, according to the 2017 Report on the State of the Legal Market. The report was released by Georgetown Law’s Center for the Study of the Legal Profession and Thomson Reuters Legal Executive Institute….The demise of the billable hour was largely overlooked because of a definitional problem, the report says. Pricing models that used billable hours were considered business as usual, and different from alternative fee arrangements based on fixed-price or cost-plus models.”

Read: Billable hour pricing is effectively dead because of budget caps, report says at ABA Journal – Daily News



The 10 Most Ridiculous Lawsuits of 2016

Goodbye, 2016.  Only time will tell what the most ridiculous lawsuits of 2017 will be: “A Massachusetts man who sold a faulty $40 printer through Craigslist was ordered to pay a whopping $30,000 to the…