The business of practicing law is changing. Leaner economic times and cost-conscious clients are challenging traditional fee structures, which in turn affects how law firms manage their finances.
It’s the new norm. Firms aren’t as profitable as they once were, the market is more competitive, and clients are more critical of traditional billing practices. It’s no longer a matter of adding up billable hours. Clients want to know up front what their costs are going to be ahead of time.
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