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by wooUK
5471 days ago
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I've spent the past 10 years working in global corporate law firms as a software developer and have witnessed this change first hand. The legal profession is based around chargeable hours. This is not a good deal for the consumer of legal services. Billing by the hour does not encourage lawyers to work more efficiently or effectively, in fact it rewards the opposite. Recently larger clients have started to stand up to the legal firms and demand that work should be done on a fixed fee basis or a shared risk/reward basis. Suddenly lawyers are beginning to to act like business people and are looking at improving their own internal efficiencies now that their fees are capped. One example of this are lawyers trying to empathise more with their fixed fee clients' business strategy and point out legal pitfalls before they happen - wow a proactive lawyer! Observing how much money law firms are currently investing on improving their efficiencies then I think what we are witnessing is a shift to a new model and not just a blip. |
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If nothing else, I'd like to introduce you to my UK counterparts.