Last month, the results of a biennial survey about law firm cost recovery were posted on the Law Technology News website. The big news? Many firms are no longer charging clients for legal research. Between 2008 and 2010, the number of firms charging for legal research dropped from 97% to 73%. From the results:
Based upon follow-up discussion with respondents, clients seem skeptical about whether fees charged for legal research and word processing reflect the firm’s actual costs. Further, many clients feel these services should be part of a firm’s overhead — aka, the cost of doing business.
New best practice? “For legal research, develop a fair pricing policy that reflects the firm’s actual cost for these services.”