The billable hour is alive and well. However given the course of unprecedented economic events that have occurred over the past year, it now needs to share space with alternative billing methods. While such methods have been around for some time, interest in them has continued to grow as corporate counsel focus on financial pressures, the need for predictability of legal costs and the shift to a value-driven pricing system for legal services.
Alternative fee arrangements are no longer limited to one or two practice areas.
