Bloomberg Law
June 18, 2019, 2:51 PM

ANALYSIS: Billable Hour Thrives Despite Alt. Legal Fees

Meg McEvoy
Meg McEvoy
Legal Analyst

The state of alternative fee arrangements in the legal marketplace is in flux. Adoption of AFAs by law firms is on the rise as more firms acknowledge client demand for the pricing models. Yet there’s no question that law firms’ accounting, compensation, and income structures—indeed, their very sense of themselves as businesses—are still built upon hourly billing. Some clients, too, are staying anchored to the billable hour by requesting “shadow bills,” even when under an AFA.

In addition, there is no widely-adopted technology that assists law firms with price modeling. And, with wide variances in data collection and analysis on ...

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