Keypoint has redesigned the traditional law firm model to retain the parts which lawyers value, and to remove the parts which people don’t
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The problem with the traditional law firm model
Lawyers value law firms as a mode of organisation. Why? Because they provide:
- work;
- a full-service client offering;
- collegiality; and
- back-office services.
But, it can come at a heavy cost to the lawyer:
- they are subject to gruelling billable hour targets, budgets, timesheets, and other forms of financial pressure; and
- a very high portion of their billings is retained by the firm (as much as 70%).
Is the cost justified?
For lawyers who rely on their firms to supply their work, this exchange may be unavoidable.