The Point A judge’s ruling last week* illustrates which of the above two alternatives is better for the client company. The court, after reviewing a law firm’s bill in a bankruptcy case, found that AmLaw 100 firm Pillsbury Winthrop Shaw Pittman LLP** had overcharged its debtor client by about $1…
The Point When should your business pay the exorbitant prices of a major law firm? When you need the full attention of the best attorney available for the task presented. But something else is happening. The data say that in 2022 corporate clients were paying proportionately more for the total…
The Point From the tenth consecutive year of LexisNexis CounselLink® 2023 Trends Report: In-depth Perspective on Rising Outside Counsel Billing Rates: 1. Law firm lawyer and paralegal (“timekeeper”) rates increased in 2022 at the highest levels since CounselLink first produced the Trends Report, in 2013, with the average partner rate…
The Point Business analyses — and decisions to which they can lead — are no better than the data on which they are based. Part I of this two-part series considers the tiny minority of legal matters priced to client companies on a basis other than attorney hours (a reported 16.8%), and…
The Point “In 2020, 16.8% of [corporate legal] matters had some portion of their billing under an arrangement other than hourly billing”, according to the most recent LexisNexis / CounselLink trends report on U.S. law firms’ charges to U.S. corporations (2021 report based on 12 months of data between January…