Financial Management: Because you're worth it
Gwenllian Williams explores the various reasons why lawyers are reluctant to demand the fees they are due for their expertise and the psychological blocks to effective, timely billing
Lawyers are widely seen as professional fat cats – living off the cream of their extortionate fees. The reality is that many firms are dogged by poor cash flow, chaotic billing cycles and lowered profitability through late billing, discounting and unrealistic fee capping. Why?
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