Law Practice
Jun. 15, 2009
Big Firms' Inefficient Cost Structures Bind Them to the Billable Hour
Large firms simply can't afford to abandon hourly billing, writes David Bohrer.
By David Bohrer
The highest-grossing U.S. law firms are addicted to hourly billing. They are not going to be able to kick the habit.
A small number of these firms don't care, and frankly have little incentive to change their minds. They are the prestigious national brand in their respective practice area. Their business model targets the highest exposure matters and charges equally high hourly fees. A thousand dollars an hour? No problem...
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