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Value Billing

Professionalism Resource Database


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Classification:Billable Hours
 
Date Published:09/01/1988
 
Title:Value Billing
 
Source:Legal Economics/Richard C. Reed
 
Summary:

In 1987 the announcement of an appointment of a task force to think about how legal fees should be determined.
Interested individuals were invited to send their written contributions to the task force chair.
Thirty years ago, the practice of law was a lot simpler when it came to setting fees. The file was reviewed and the attorney sent a bill "For Services Rendered". Somewhere along the way, an attorney discovered the billable hour---catching the hours that would have been forgotten on a case that was long and drawn out.
The task force is still collecting the ideas, studies and articles in an effort to build a base upon which to draw conclusions and to make suggestions.
Has alternative billing methods listed and includes questions for disccussion along with Editor Jim McRae's comment regarding value billing. 3 pages

 

[Revised: 07-28-2006]