Survey finds lawyers charge different fees for different clients
A new survey examines the billing practices of over 4000 law firms, 50,000 individual billers and 18.9 million invoice items, to find that firms are charging different hourly rates for the same services.
The "Real Rate Report" prepared by CT TyMetrix and The Corporate Executive examines more than $4 billion in law firm billings, and aims to help general counsel in making better decisions about how and where to spend their money.
The report demonstrates that many lawyers bill at different hourly rates for different clients, and it is thought that increased transparency may give general counsel more bargaining power in negotiating fees.
CT TyMetrix's collected the data from its web-based financial and e-commerce software, which is used by law firms and corporate legal departments to handle e-billing and matter management. About $30 billion in legal invoices have flowed through the company's systems in the last ten years.
The report will be released in September.
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