For a while now, the fate of the billable hour has been in question. Corporate clients have long been expressing their concerns that the billable hour fee structure could possibly encourage corporate counsel to prolong legal matters.

With the ailing US economy, these corporate clients are finding it more imperative to set budgets for operating their companies. As they are forced to tighten their belts, small and large corporations are putting more pressure on their legal counsel and law departments to do two things – get rid of the billable hour and control their legal costs.

What would the demise of the billable hour mean for corporate counsel and their clients?

Read more to find out…