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This exists and has existed in various forms for a long while. It's not a billion dollar idea. Business people prefer to pay lawyers hourly for peace of mind, d
by nihonde 10y ago
This exists and has existed in various forms for a long while. It's not a billion dollar idea. Business people prefer to pay lawyers hourly for peace of mind, despite lawyers having almost no accountability. Lawyers prefer to cobble documents together in Word because if they bill 8 hours a day at market rates, they're clearing at least $750K p.a. If lawyers want more money, they employ a standard labor pyramid, delegate workload, and raise their rates. I'm not saying it's right, or good, but that's the reality.
- rosegold 10y agoAgree with much of the above with some exceptions: secretaries create documents for partners and senior level associates. There is usually a bank of standard provisions that the secretary pulls from. Partner A says pull the standard template plus x and Y provisions. Secretary prepares and Partner reviews. On the billing, you may see preparation charged at the secretary's hourly rate with review at the partner's rate. Lawyer's have plenty of accountability from their clients. Corporate clients hire outside firms to review billings. Each year corporations review their outside counsel and decide if they want to find new counsel. Big Corp invites big law firm X, Y and Z in for a "dog and pony show". Competition between law firms is fierce.