Kentucky Bankruptcy Law

Counsel with Care

Value billing approach

I was excited to come across this post by The Greatest American Lawyer. It reflects very closely my own approach to billing as I described here. I am reprinting his value billing policy here for comparison purposes:

    Value-Based Billing Policy
    Some of Traverse Legal’s customers prefer to be billed on a time-based system, where hours are tracked and billed to the client at a specific hourly rate. Some cases are best suited for time-based billing. Unlike most other firms, Traverse Legal does not bill for every activity and task associated with the handling of a matter for a client.
    The following is a list of items that we do not charge to clients:
    · Transmittal letters which do not contain significant legal analysis or recommendations.
    · Short phone calls that do not lead to immediate legal work.
    · Update or general information calls to or from client.
    · Any activity that does not add value to client’s immediate matter.
    · Any activity which deals with general information about the client.
    · Any activity which does not work towards resolution of the client’s problem.
    Things that we do bill for:
    · Any activity which provides specific value to a specific client problem.

Once again, only at a solo or small firm could you find this approach.

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April 8, 2007 - Posted by | Solo & Small Firm

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