“Do legal fee discounts really pay off for clients?” February 18 Boston Business Journal article, quoted Paul E. Clifford on the growing use of discounts by law firms.
From the article:
“It’s tricky for law firms to discount rates more than 10 percent without cutting into profits, said Paul Clifford, principal at Law Practice Consultants LLC. ‘Law firms are being dragged kicking and screaming’ into doing alternative-fee or fixed-fee arrangements, said Clifford. ‘They would frankly prefer to do the billable-hour rate, because it’s a heck of a lot easier to figure out. There’s quite a bit of uncertainty around the economics of alternative-fee arrangements.”