From Billable Hours to AI: The Future of Legal Billing and Firm Economics
According to Benjamin Franklin, only two things are certain: Death and taxes. According to the legal industry, one thing is certain, too: Law firms operate upon the structure of billable hours, or so the legal industry once assumed. Going back to the 1960’s, attorneys have historically charged clients an agreed upon rate based on the cumulative hours spent on a project.
The Business of Law: Building Client-Centric Practices for Success in the 21st Century
Aristotle once said that “The law is reason free from passion.” In the 21st century, however, the law is also a business. To thrive in an unpredictable, competitive market, lawyers must do more than rely on their training.
ESG and the law
Environmental, Social, and Governance (ESG) considerations have become integral to the corporate world, influencing decision-making, risk management, and regulatory compliance. ESG issues have transformed from being paraphernal issues for law firms to becoming central pillars of their strategic operations, client advisory services, and overall risk management frameworks.
The Year of AI: Transforming Legal Practice in 2025
The 2025 US legal market is one defined by rapid technological change, particularly the advent of AI. Some experts and industry leaders have even dubbed 2025 “the year of AI” after observing its increasingly relevant role in the day-to-day practice of law throughout 2024. AI has demonstrated its ability to transform a myriad of industries, and law is no exception. The ability to harness and effectively utilize AI is becoming increasingly important, and law firms must find a way to embrace this innovation.
