The billable hour is dying a slow but inexorable death. The Great Recession drastically reduced legal budgets for both individuals and businesses, and things have never quite been the same since. Clients expect their lawyers to do more for less, and lawyers have no choice but to adapt. This is the new normal: clients are extremely careful about cutting and controlling costs, want complete transparency in pricing, and demand predictability to avoid runaway bills. They want to be sure that their lawyers have incentives to achieve efficiency.
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