Quote:
Originally posted by Penske_Account
Good read.
Translation: the law firm economic model is fucking stupid (read: lawyers understandings of economic and markets is for shite).
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I'm not sure the "read" part is right, though. The problem is developing a model of value-added billing that can be known in advance. While it's one thing to use "off the shelf" products for standard agreements, it's another thing to use off the shelf for litigating a major case. There's not much way to do that. The contract with morgan lewis for fixed fee on litigation is also probably a bad idea--I can imagine ML settles cases instead of litigating them. Wouldn't you?
