Law Practice
Jan. 13, 2010
Resolving the Billable Hour Dilemma
Attorney Jonathan Petrus says despite arguments against the billable hour, this system remains the prominent method for law firms to generate revenue.
By Jonathan Petrus
Exceptional law firms should make more money. In the wake of the greatest economic recession since the Great Depression, this statement is intended neither to be disingenuous nor ironic. And the traditional billable hour model stands as the culprit, guilty in preventing exceptional firms from making more money. At the beginning of each year, law firms routinely increase hourly rates to their clients' growing chagrin. Only recently, and be...
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