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Reimagining Legal Billing: From Hourly to Value Pricing
This chapter explores the shift in legal billing practices from traditional hourly rates to value-based pricing, emphasizing the complexities and benefits of this transition. It discusses the challenges faced by legal professionals in managing workloads and maintaining quality while fostering client relationships. The conversation highlights innovative solutions such as automation, phased flat fees, and productized services that enhance efficiency and profitability for lawyers.