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The Billable Hour Is Dead. Long Live…?, Robert Hirshon

Articles

The legal profession, of course, quickly comprehended that pursuant to the hourly approach to billing, two factors were paramount: the total amount of hours it took to complete a matter and the amount of dollars charged per hour. As both transactions and litigation became more complex, law firms found it necessary and easy to justify adding bodies (read: hours) to their clients' legal projects. With the number of legal projects increasing as a result of explosive economic growth in both developed and developing nations, the demand for top legal talent during most of the 1980s, 1990s, and early 2000s was …