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Are the days of hourly billing over in Australia?
It's official...
... the hourly rate is dead in Australia!
Could the end be nigh for the hourly billing model favoured by many professional services firms? As technology turns the dial towards value-
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Why indeed?
Litigators should know how much any case is going to cost before they even begin the process of budgeting, Sir Colin Birss, the deputy head
Quote of the Week (21.10.2022)
Quote of the Week (21.10.2022)
Indeed, most law departments rate their legal spend management sophistication as middle of the road, which means that most law departments continue to rely on general billing guidelines and discounts as their primary cost-control measures. 2022 Legal Department Operations Index – by Legal Value Network and Thomson Reuters
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The Two Biggest Reasons Lawyers Are Afraid to Raise Legal Fees
The Two Biggest Reasons Lawyers Are Afraid to Raise Legal Fees
Interesting article on abovethelaw.com on why lawyers should not be afraid to raise their rates even in times of potential recession (‘Don’t Be Afraid to Raise Your Legal Fees‘) by Roy S. Ginsburg. In the article Roy sets out the following two reasons for why lawyers may be reluctant to increase their rates: Reason No. 1: Fear of Losing Business to CompetitorsReason No. 2: Fear of Missing Out…
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