Transitioning to fixed or project-based pricing demands a thoughtful reengineering of how firms scope, staff, and sell their ...

Ah, the B-word. Attorneys have a complicated relationship with it. For many, it's the bane of their existence, but billables are also the holy grail of law firm profitability. The billable hours ...

US law firm Ropes & Gray has expanded its programme to give junior lawyers 20 per cent of their billable hours to experiment ...

It will take about three minutes to read this column. Whether it’s worth three minutes depends on me, of course. I will do my best. But it also depends on you, on your attitude to time and, perhaps, ...

Rita Gunther McGrath (@rgmcgrath) is an academic director in executive education at Columbia Business School and author of “Seeing Around Corners: How to Spot Inflection Points in Business Before They ...

Early in my career, I was doing well at a midsized accounting firm. But one thing struck me as absurd. There was constant pressure on my team and me to hit a certain number of billable hours — a lot ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

For decades, the billable hour has been the legal profession's sacred cow—a billing model so entrenched that many lawyers can't imagine practicing without it. But as artificial intelligence transforms ...

For decades, the billable hour has been the default currency of the service world: I spent X hours, therefore you owe me Y ...

I'm a trial lawyer. I bill by the hour. So do the associates who work for me. I have lots of clients, so I can pretty much work, and bill, as much as I want. This needs to be fixed. Yes, you read that ...

Vendors that incur expenses in the course of providing a product and a service to another company or client often bill these expenses directly to the client when the contract or agreement allows. In ...