Dos And Don'ts For Disaster-Free Discounting

Law360 (Link to Full Article) The trend of law firms providing discounts off their hourly billing rates shows no signs of letting up, and legal experts say firms would be wise to be proactive, yet avoid indiscriminate discounts regardless of practice area.

Clients have been increasingly aggressive in demanding discounts off law firms' standard billing rates, often referred to as published rates or rack rates, across all matters and practice areas. A recent billing survey conducted by Law360 and BTI Consulting Group Inc., BTI's Billing Rate Reference 2014, found that firms are offering average discounts of 15 percent off their rack rates, with some firms discounting as much as 30 percent.