Will Innovation Help Law Firms and Clients Control the 'Cost Monster'?
Amid rising billing rates, there's fresh optimism that innovation, not only on pricing plans but because of AI-related spending and projects, can lower costs on both sides.
September 19, 2023 at 04:00 PM
5 minute read
Pricing/Billing RatesThe original version of this story was published on The American Lawyer
Huge billing rate increases have helped law firms absorb hits to productivity and keep layoffs mostly underfoot so far this year. But they've also drawn strong reactions from clients, say in-house lawyers and consultants, with some describing the latest hikes as "mind-boggling."
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