There are still plenty of challenges for United Technologies’s in-house teams and its outside counsel when it comes to alternative fee arrangements. In-house lawyers need better tools, skills, and confidence to go out and get a good deal in place and monitor those deals effectively. “That’s an area where we need to be stronger and help our folks be savvy buyers,” Beach says.
Beach also believes that alternative billing will force law firms to change how they compensate their lawyers. If firms abandon the billable hour as a basis for pricing their services, they have to stop paying their lawyers according to the billable hour, too, Beach says. They should be paid instead for delivering the services their clients want.
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