FT Innovative Lawyers 2008 Traditional billing on an hourly basis has never been popular with law firms’ clients, many of whom argue that it rewards lawyers for inefficiency. But many law firms have also become disenchanted with hourly billing, which they feel fails to adequately reward them for the value they can create for clients. A growing number of firms have responded by trying to develop more sophisticated and equitable ways of sharing risks and rewards with their clients.
Standing out among the innovators in the billing and fees category is Eversheds, which has begun offering its clients a range of a la carte billing options and has developed a specific arrangement with its client Tyco International.
