Has the Billable Hour Met Its Tipping Point?
It was big news when the opinion piece "Kill the Billable Hour" by Evan R. Chesler, presiding partner at Cravath, Swaine & Moore, appeared recently. And even though law firm leaders generate nearly $80 billion in revenues, mostly from billable hours, no one has come forward to defend it or short-term profit maximizing as serving the interests of the profession, clients or society, notes Paul Lippe, a founder and CEO of Legal OnRamp. He suggests that the billable hour's tipping point may have arrived.
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