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The American Lawyer

Senior Associates' Billing Rates See The Biggest Jump

“You’re getting some associate rates cresting to over $1,000 an hour, as much as some junior partners," said Jennifer McIver, of Wolters Kluwer ELM Solutions.
4 minute read

The American Lawyer

Strategic Pricing: Setting the Billable Hour at the Intersection of Psychology, Feedback and Growth

If there's no pushback on new rates, the increase was too low, David Ackert writes: Each strategic adjustment should help cull a few unprofitable clients.
4 minute read

The American Lawyer

Clients Paid More for Less Experience in 2024 Rate Hikes

Firms raised the prices of their cheapest paralegals, associates and partners higher than rate hikes for more experienced professionals of the same tier, bankruptcy court records show.
3 minute read

International Edition

The Law Firms Generating 8-Figure Fees on the Year's Big Ticket UK Deals

The U.K. M&A market rebound has been a boon for a handful of elite law firms, according to Law.com International research, with one firm proving especially prolific.
3 minute read

The American Lawyer

Rates Will Go Up (Again), But Here's Why Profitability Might Not Be Maximized

There are three major pricing errors, and many partners "don't grasp the balance between costs, pricing and profits," one expert says.
4 minute read

Corporate Counsel

'Utterly Bewildering': GCs Struggle to Grasp Scattershot Nature of Law Firm Rate Hikes

"It's a complicated, highly fragmented industry with tens of thousands of people making different decisions every day," said Jason Winmill, legal department consultant.
5 minute read

Legaltech News

ClioCon 2024 Takeaways: Navigating Law Firms' AI Future

At Clio's Cloud Conference 2024, lawyers were wondering what impacts AI will have on their industry—and how they can prepare.
6 minute read

Daily Report Online

Defendant Awarded Increased Attorney Fees Six Months After Trial Win Against FTC

Attorney Charles Hoffecker of Hotchkiss Hoffecker Peacock in Atlanta said the FTC failed to adjust its "shotgun approach" in aggressively pursuing claims against their client despite the emerging evidence that he did not directly participate in unfair and deceptive practices.
4 minute read

International Edition

Challenge for Lawyers as Regulators and Financing Delay Oil & Gas Deals in Africa

Delays to deal closings are hurting the financial expectations of legal advisers and it has become increasingly unlikely for a law firm to be able to agree fixed legal fees, say local lawyers.
5 minute read

The American Lawyer

Partners Confront 'Deeply Uncomfortable' Client Communications on Soaring Billing Rates

Law firms are increasingly relying on engagement letters or online e-billing platforms to alert clients of rate increases, even though less personalized communication can frustrate clients, sources say.
6 minute read

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