List three of the reasons for the push for a change from hourly billing to value billing.
What will be an ideal response?
ANS:
The reasons for the change from hourly billing to value billing include:
1. The client never knows during any stage of the work how much the total legal fee will be.
2. Clients sometimes avoid calling (or otherwise communicating with) paralegals and attorneys because they know they will be charged for the time, even if it is a simple phone call.
3. Clients have trouble seeing the relationship between what is performed by the paralegal or attorney and the enormous fees that can be incurred.
4. Hourly billing encourages lawyers and paralegals to be inefficient (i.e., the longer it takes to perform a job, the more revenue they earn).
5. Many law offices force attorneys and paralegals to bill a quota number of hours a year, which puts a tremendous amount of pressure on the individual paralegal and attorney.
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