Are companies witnessing the death of the billable hour … or the rise of discounted hourly rates?
In what could be more good news for in-house legal departments, a recent ALM survey showed a spike in the use of alternative billing arrangements last year. The “Law Department Metrics Benchmarking Survey, 2010 Edition” reports that 72.8 percent of fees paid to outside counsel in 2009 were based on billing arrangements other than standard hourly rates or the billable hour.
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