Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Even though the cost of many things is going down, legal costs seem to climb every year. Clients have begun to realize that in many law firms, the billable hour is an impediment to efficiency.  It creates a counter-incentive to efficiency: to some extent, it encourages lawyers to re-invent the wheel. All too often traditional hourly pricing results in inefficiencies, overruns, complexity and unpredictability, resulting in excessive need for administrative supervision.  As a result, clients have started asking for “alternative fees”  for legal services to be delivered at prices that are predictable and make business sense.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.