I recently published a new article titled “What Could Your Company Do With $230 per Hour? Or, Why Your Company Gets More Value From A Small Law Firm.” You can download a copy here for free.
My hope is that this article provides insight into the true value offered by smaller firms. The article looks at actual numbers from a recent survey of billing rates, expenses, and overhead in an attempt to decipher whether clients really receive more value commensurate with they higher fee they pay for the services of a larger law firm. After an analysis of the costs contained within those fees, there is ample evidence to support the argument that clients receive more value from the services offered by attorneys at smaller firms.
Some of the topics discussed include:
- an analysis of big firm compensation and expense models (with actual survey numbers)
- billing models for big firm associates and other staff
- a comparison of big-firm and small-firm work flows
- a discussion of key issues to consider when clients are comparing large and small law firms
- a discussion of common misconceptions when comparing large and small law firms