Login
2009 IN REVIEW Key trends: Alternative billing methods gain momentum
With law firms under pressure from clients to better meet their needs, 2009 saw little slowdown on debates over billable hours, while alternative billing arrangements also gathered momentum. …
With law firms under pressure from clients to better meet their needs, 2009 saw little slowdown on debates over billable hours, while alternative billing arrangements also gathered momentum.
According to a study released in November by consulting group IKD, in-house lawyers were harnessing their increasing powers spun off from the GFC to negotiate, and sustain, alternative fee arrangements.
In September, global pricing expert Ron Baker arrived in Australia to put his thoughts to the debate, noting at the Australian Legal Practice Management Association's (ALPMA) national conference that legal services should be valued from the perspective of intellectual capital, rather than the restraints of timesheets.
Firms sporting strong alternative billing methods and unique pricing strategies - such as Advent Lawyers and Marque
Lawyers - also continued to grow and generate discussion across the profession.
It seems the revolt against the billable hour is well and truly under way, yet even Baker admitted that lawyers have a long way to go.
Other significant trends in the legal profession this year have included (click on link for a full examination of each trend):
>> Mid-tiers make their mark
>> Climate change on the horizon
>> The rise and rise of in-house
>> Speaking out about outsourcing
>> Too many city lawyers highlights rural shortage
>> Alternatives for billings methods gain momentum
>> The trend to business-minded lawyers
>> Mental health issues come to the fore
>> Workplace relations tug of war
>> Big firms place freeze on salaries
