“Services Rendered: How to Fix the Billable Hour System,” Managing Partner Magazine
Managing Partner Magazine published Michael Trotter’s article “Services Rendered: How to Fix the Billable Hour System” on May 28, 2013. In the article, Trotter discusses how law firms and corporate counsel should work together to fix the billable hour system rather than eliminate it. He suggests that hourly billing is not the only source of greater profitability, but rather, much increased leverage has been a big contributor in increasing the cost of legal services. Trotter continues the article by recording the history of the billable hour system, suggesting ways to monitor hourly rates and how firms can adjust their billable rates for each engagement. For the full article, please click here.