Is the billable hour finally on its way out? Hear what law firms, lawyers and their clients think about the billable hour and alternative fee structures.
Read the reportCalling time on the billable hour
For decades law firms have relied on the billable hour to charge clients and measure lawyer performance.
But this pricing model is often criticised for promoting inefficiency and creating the wrong incentives for lawyers.
Instead, legal counsel are demanding greater cost certainty from the firms on their panels, with many insisting on alternative pricing structures.
In this report, we speak to law firms, lawyers and their clients to discuss the pros and cons of the billable hour model and the challenges of pricing matters when using alternative fee structures.