Published by : Patrick Johansen, CPP

Georgetown Report: Future Includes New Model, Value-Based Pricing

The law-firm centric model of the last century–allowing senior partners in major law firms to control every aspect of legal services–is giving way to an “integrated solutions” model with value-based pricing, according to the latest legal industry report. The 2020 Report on the State of the Legal Market argues the legal industry is undergoing “fundamental […]

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Chief “Pricing” Officers Continued Record-Setting Pace in 2019

If the hiring of five pricing-related Chief Officers in 2018 could be characterized as momentum, then last year the legal industry was in full acceleration mode. In 2019, five law firms hired a Chief Pricing Officer — more than double any prior year. In addition, two law firms hired pricing-related Chiefs, bringing the total to […]

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Survey: Pricing Disparity Grows Within Legal Industry

The legal industry’s largest firms continue to invest in Pricing as the majority of the legal industry reverses its investments, according to the latest Altman Weil survey. In the 11th annual Law Firms in Transition survey, released last month, firm leaders showed diverging interest in Pricing-related efforts. When asked, Is your firm doing any of […]

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Survey: Pricing Concerns Decline to Lowest Level in Nearly a Decade

Law firm leaders’ concerns about Pricing are at, or near, their lowest levels since the Great Recession, according to the latest Altman Weil survey. In the 11th Annual Law Firms in Transition survey, released earlier this month, firm leaders expressed declining concern about Pricing-related topics. When asked, Which of the following legal market trends…will be […]

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The Defining Four: Price, Pricing, Pricing Strategy, Strategic Pricing

How can such a simple word, price, cause so much confusion? For years, the legal industry has been focused on calculating better price tags and devising creative fee arrangements, all in the name of Pricing. Unfortunately, Pricing is not the same as Price, nor is Price synonymous with Pricing Strategy or Strategic Pricing. It is […]

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