Matter-centric thinking

November 30th, 2010 by Altman Weil

“The billable hour may or may not be doomed but the debate on its fate misses one glaring point. Law firms are not in the hours business; they’re in the matters business. All companies differentiate themselves on the quality of the product and the relative value of the product versus its cost. Law firms in fact compete on the quality of their matters and, to a growing extent, the efficiency with which those matters are produced. Lawyers may not like to think this way, but the delivery of legal services is not immune to the same economic realities experienced by manufacturing. It has just taken their customers longer to wake up to the fact.”

Read it at the Law Firm Finance Blog

This entry was posted on Tuesday, November 30th, 2010 at 3:39 pm and is filed under Law firm finance, Alternative fees. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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