ISBN-10:
1590311175
ISBN-13:
9781590311172
Pub. Date:
10/28/2003
Publisher:
American Bar Association
Winning Alternatives to the Billable Hour: Strategies That Work / Edition 2

Winning Alternatives to the Billable Hour: Strategies That Work / Edition 2

by James A. Calloway, Mark A. Robertson

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Product Details

ISBN-13: 9781590311172
Publisher: American Bar Association
Publication date: 10/28/2003
Edition description: 2nd Edition
Pages: 320
Product dimensions: 6.98(w) x 9.74(h) x 0.72(d)

Table of Contents

Forewordvii
Preambleix
Acknowledgmentsxi
Introductionxiii
Chapter 1The Search for the Meaning of Value1
Lawyers and Clients: Perception Is Reality1
Client Perceptions of Value2
What Is Value?3
Conclusion5
Chapter 2The Changing Legal Profession7
Technology Within the Law Office8
Clients' Understandings and Beliefs About Technology9
Consumer Attitudes in General11
The Only Constant Is Change12
Demographics13
Profit Squeeze and Income Compression14
The Legal Market as a Maturing Marketplace15
The Future of the Profession20
Impact of These Trends21
Chapter 3Ethical Rules and Practices23
The Basic Rule23
The Golden Rule25
Gray Areas26
Chapter 4Pricing Legal Services31
Historical Influences on Pricing Legal Services31
The Value Curve37
Hourly Billing Is Cost-Driven50
Variations of Hourly Rates51
Chapter 5Pricing Legal Services for the Solo and Small-Firm Lawyer55
The Value Curve56
Market Factors for the Main Street Lawyer61
Dealing with Unsophisticated Clients61
Pricing Structure as the Basis of an Office System64
I Cannot Do It at That Rate and Make Any Money65
Conclusion66
Chapter 6Foundations on Which to Build a Billing Method67
Self-Assessment Checklist67
Determining Cost70
Retrospective Analysis of Cost as a Guide70
Cost of Service Versus Value to the Client71
Knowing Costs Through Detailed Cost Accounting72
Exercise in Cost Accounting75
Determining Cost to Produce a Package of Services77
Task-Based Analysis78
Examining Closed Files to Create Minisystems or Predict Fees80
Recurring Variables or Uncertainties81
Examining Profitability as It Relates to Billing82
Conclusion83
Chapter 7Billing as Part of the Communication Process85
The Role of Effective Communication in the Billing Process85
Elements of the Communication Process87
Know What You Want to Communicate91
A Model for Delivery of Legal Services95
Satisfaction and Price99
How to Prepare and Price Your Service Package101
A Few More Words on Communicating Value103
Conclusion103
Chapter 8Technology and Billing105
Technology and the Billing and Collection Process105
Technology in Fee-Setting and Budgets112
Substantive Systems and Document Assembly113
Knowledge Management Tools115
Transaction Fees: Sharing the Costs (and Benefits) of Technology116
Collaborative Technologies116
Conclusion117
Chapter 9Developing the Case Plan or Transaction Plan119
Why Should I Bother with a Plan?119
Elements of the Case/Transaction Plan121
Preparing in Advance122
Setting Client Goals and Expectations122
Determining Billing Methods124
Chapter 10Alternative Methods of Billing125
Fixed or Flat Fee125
Contingent Fee127
Hourly Rate128
Blended Hourly Rate130
Fixed or Flat Fee Plus Hourly Rate132
Hourly Rate Plus a Contingency133
Percentage Fee135
Task-Based Fee136
Retrospective Fee Based Upon Value137
Unit Fee139
Relative-Value Method140
Lodestar Method141
Statutory or Other Scheduled Fee System142
Availability-Only Retainer143
Retainer as a Deposit Against Future Services145
Chapter 11Implementing Value-Based Billing147
Value Billing and Profitability148
Strategies for Profitable Value Billing149
Position on the Value Curve151
Change: How to Bring It About153
Case Study: Could This Happen in Your Office?155
Arguments in Favor of Changing Billing Methods156
Impediments to Change161
Concerns of Corporate Counsel162
Conclusion164
Chapter 12Legal Representation Agreements165
Matters to Address in All Legal Representation Agreements165
Caveat168
Chapter 13Evaluating Results of the Use of Alternative Billing
Methods169
Review of Closed Files169
Client Audits170
Performance Evaluation172
Profitability Analysis172
Quality of Life and Quality of Work Product172
Conclusion174
AppendixFee Letters, Agreements, and Other Resources175
Index275
About the Editors285
About the Diskette287

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