Skip to content

More about alternative billing

13/09/2010

A 2010 Benchmarking Report by the Australian Corporate Lawyers Association and the Corporate Lawyers Association of New Zealand has found that remains the predominant method for pricing legal serviceshourly billing even though it is favoured by few corporate clients.  Forty-seven per cent of in-house counsel struggled for a better  alternative, even though only 4 per cent considered it to be the best pricing method.  Of those alternatives, fixed fees was the most favoured alternative billing method.

The survey of 517 lawyers from 40 firms to be released soon by the Queensland Legal Services Commission will demonstrate that two-thirds of Queensland firms have no plans to implement alternative billing methods.

The  Institute of Knowledge Development in Melbourne opined last year that that, while hourly rates was likely to continue, the trend toward alternatives was “gathering pace and irreversible”.  Most interestingly, it found participants perceived fee arrangements were not purely cost-driven, but were designed to align interests and unlock the real value of legal advice.

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s