Law Firm Billing

The benefits of flat-fee billing arrangements are numerous, from predictability to efficiency to increased client satisfaction. But not all legal matters are appropriate for flat fees. So, how do you know which practice areas are right for a ...

Sometimes the most profound lessons arise from the simplest of exchanges. So it was for a young Jordan Furlong in the early days of his career as an adventurous service provider. He says the best pricing advice he ever received came from an ...

It gets to be a bit much, all the chatter about the legal profession changing at the speed of light. Even if it is transforming into something quite great — I know, maybe it is and maybe it isn't — it seems nearly impossible to figure out what ...

The year's end is right around the corner, along with the holiday season. So, what do you really want for a holiday gift? How about getting paid for the work you did during the year? The holidays can be extra hectic for lawyers with the ...

Billing. It’s not something we like to talk about, but it is something lawyers have to do regularly, so it deserves some attention. Making sure you capture all of your billable time and produce clear, coherent invoices for it helps ensure you ...

Yes, it seems we’ve been talking about the big changes coming to the legal profession for a very long time. But when the shift starts making headlines in the general media, it begins to seem more real. When academia begins to roil, you know ...

Wise lawyers know that contemporaneous timekeeping is essential to the success of any fee arrangement—and to the overall financial success of your law firm. Lawyers who reconstruct their time weekly tend to lose 25 to 30 percent of their time, ...

It's been four years since the start of the great recession (or “lesser depression”) and business owners are acknowledging that recovery is going to be a long, slow process. With no springboard in sight, some economists are calling for another ...

If you read my post on "How Hourly Billing Kills Law Firms," maybe you’ve been inspired to figure out how to price certain legal services based on their value to a client, not the number of hours you spent. Now all you have to do is figure out ...

Lawyers have been talking about and wrestling with “alternative billing methods” or "alternative fee agreements" for a decade or more. Recently, however, the conversation has shifted to “value billing.” Well, that’s a concept we can get ...