Blogging about all sorts of things--governance in higher education, in businesses, and in law firms; bankruptcy ethics; popular culture & the law; Enron & other corporate fiascos; professional responsibility generally; movies; ballroom dancing; and anything else that gets my attention.
Tuesday, April 28, 2009
The death of the billable hour continues
This morning's ABA Journal post on the percentage of ACC-member GCs who dislike the billable hours system (see here) continues the slow demise of the billable hour. Over time, the profession is going to have to come up with viable alternatives that compensate lawyers fairly but still encourage efficiency in representation.
Although the billable hour does not seem to be dead as yet, its days are definitely numbered. Clients are increasingly demanding reduced legal costs, forcing the law firms to innovate. One solution to the high legal fees problem is legal outsourcing.
ReplyDeleteWith the advent of legal process outsourcing, legal work is now being done at a fraction of the cost in countries like India, without compromising in quality. Companies like SDD Global Solutions are helping buyers of legal services in the U.S. reduce costs dramatically by providing cost effective legal solutions.