Much has been written and posted in the last six months or so about the billable hour and its effect on clients and on the legal profession itself. One of the most recent pieces was an article by Lisa Lerer in Slate.
Lerer's article is a concise overview of the history of the billable hour with links to some recent articles and posts about its effects and calls by some Fortune 500 GCs to do away with it.
I'm intrigued by her subtitle: could law firm clients finally kill off the billable hour? Personally, I don't think we're going to see the total demise of the billable hour any time soon, if ever. The better question is: in the next, say, 25 years, will non-billable hour alternative fee agreements become the predominant mode of legal fees among business clients and their lawyers?
Wednesday, January 30, 2008
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