Clients crave predictable legal costs
Under difficult economic conditions an old conflict between traditional law firms and corporations has intensified, as demonstrated by a survey conducted by BTI Consulting Group, which reported that executives at 87% of corporations said they would drop their outside legal representation if they could. comments powered by Disqus
Forbes suggests that the friction between corporations and law firms can be tied to a fundamental difference in the way that the two types of entity operate. While law firms have traditionally avoided an up-front statement of costs in favour of retrospective billing practices, corporations depend for their success upon predictability.
In order for the real needs of clients to be met by the legal services industry, firms must put predictability at the heart of the entire lawyer-client experience.