The legal profession is undergoing a significant transformation in how legal services are priced. The traditional billable hour model, which has dominated for decades, is increasingly being questioned by clients, firms, and legal professionals alike. The world of legal pricing is evolving rapidly, driven by shifts in client expectations, technological advancements, and new market dynamics. Law firms and legal professionals must adapt to these changes to stay competitive, ensure profitability, and meet the demands of a diverse and increasingly cost-conscious client base.

Mastering Legal Pricing: Strategies for Profit, Value, and Innovation explores the evolving landscape of legal pricing, addressing the challenges and opportunities that law firms face in adapting to modern economic demands. From the traditional billable hour to alternative models such as subscription-based services and value-based pricing, this book examines the impact of client expectations, technology, and evolving business strategies. It provides insight into the tools, frameworks, and strategies necessary to create more transparent and efficient pricing models that align with both client needs and law firm profitability.

Tim Corcoran
https://www.linkedin.com/in/tcorcoran/

Tim Corcoran is a former CEO who now guides law firm and law department leaders through the profitable disruption of outdated business models. Tim is a trustee and fellow of the College of Law Practice Management, former president of the Legal Marketing Association and a member of its Hall of Fame, an American Lawyer Research fellow, a past teaching fellow in the Master in Legal Business program at the Australian College of Law, a frequent presenter at lawyer retreats and legal conferences, and a writer whose articles are published regularly in leading publications. This is the tenth chapter Tim has contributed to a Globe Law and Business publication.

Stéphanie Hamon
https://www.linkedin.com/in/st%C3%A9phanie-hamon-51b6b36/

Stéphanie Hamon is helping legal functions to operate as an efficient business partner. She is changing legal service delivery, one step at a time and an expert in setting and delivering transformation programs and commercial management strategies for in-house legal departments, as well as broader legal operations strategies and implementation. She led the Barclays team that was named “Legal operations team of the year” at the 2019 UK Legal 500 Awards. She has also developed a new approach to law firm panels and engagement with the broader legal ecosystem. She promotes collaboration, relationship, and efficiencies. She has over 20 years’ experience working with legal and financial institutions in the UK, Europe, and Asia Pacific. Stéphanie has considerable expertise in senior stakeholder management, business development, strategy formulation and execution, and client-focused relationship management. Most recently she founded a first-of-its-kind legal operations consulting practice at Norton Rose where she was recognized with an individual Band 1 ranking in Chambers. Clients have said about her: “Stéphanie Hamon’s one of the best in the business. I appreciate that she is not afraid to give tough advice or push back.” “Stéphanie is one of the top change leaders and collaborators in our sector.” Stéphanie has now rejoined the in-house side, working as global head of legal external engagement at HSBC.

Steph Hogg
https://www.linkedin.com/in/steph-hogg-17859a4a/

Steph Hogg is director of procurement consulting at Validatum. She is a seasoned procurement professional with over 15 years’ experience gained in the financial services sector as head of legal procurement for a FTSE 100 insurance company, and is one of only a handful of legal procurement specialists in the UK regularly working with the largest and most sophisticated of law firms. Bringing thought leadership to the sector, she has unrivalled practical experience in running legal panel processes and developing and maintaining successful, collaborative relationships, underpinned by world class MI and reporting that truly meets client needs. Respected by legal firms for being honest and straight talking, Steph is passionate about helping firms and their clients work together to define and deliver excellent value for money, and is very clear on the difference between value and price! A regular conference speaker and author on legal procurement, Steph’s unique insights also draw upon first-hand experience gained in commodities as diverse as IT and consultancy, and make her uniquely placed to help firms navigate the professional, institutionalized approach to buying now endemic within the legal profession. Steph works exclusively with law firms to help them optimize external legal procurement relationships.

Tanbir Jasimuddin
https://www.linkedin.com/in/tanbirj/

Tanbir Jasimuddin is an award-winning finance and transformation leader with 20 years’ experience within legal and professional services. He is an ex- McKinsey and Big Four management consultant and has also held finance leadership positions at several law firms. He has a track record of delivering performance improvement across organizations. Tanbir has a passion for using data and analytics for driving behaviors. He is a recognized expert in finance and analytics and has authored several papers on these topics.

Jack Kingston
https://www.linkedin.com/in/jack-kingston16/

Jack Kingston has spent over 20 years in the legal technology industry, driven by a passion for helping law firms boost profitability and achieve operational excellence through the strategic use of process and technology. Guided by his personal “why”, which is to consistently thrive while building lasting relationships with loyal and ambitious people, Jack brings both vision and integrity to every partnership. Outside of work, he enjoys alpine skiing, spending time with friends, and following baseball. He has also dedicated 27 years as a Canadian football referee, demonstrating his commitment to leadership, discipline, and community involvement.

Steven A. Lauer
https://www.linkedin.com/in/steve-lauer-187bba8/

Steven A. Lauer consults with corporate law departments and law firms on the value of legal service and related topics. For several years, he consulted with corporate law departments and law firms on issues related to how inhouse and outside counsel work together. He spent over 15 years as an in-house attorney in law departments ranging in size from one to 400 lawyers, in the real estate and compliance industries, and over two years as executive vice president, deputy editor and publisher of The Metropolitan Corporate Counsel, a monthly journal for in-house attorneys. Steve conducts benchmarking research for clients, designs evaluation processes for counsel selection, and researches and designs case-evaluation methodologies that incorporate clients’ appetites for risk and goals, among other projects. He has consulted on alternative fee arrangements, task-based billing, and client expectations. He has written numerous articles on compliance, the relations between in-house and outside attorneys, the selection of counsel by corporate clients, the evaluation of legal service, litigation management, and other topics relevant to corporate compliance programs and corporate legal service and has organized and spoken at numerous conferences in respect of those subjects.

Tiffany O’Neil
https://www.linkedin.com/in/tiffany-oneil-a647715/

Tiffany O’Neil is director of KM and technology innovation at Procopio, Cory, Hargreaves and Savitch LLP. For 15+ years, Tiffany has led Procopio’s knowledge management (KM) and records/office services functions, and since 2019 has also presided over the firm’s technology innovation group. With more than 25 years of KM and research expertise, she oversees investigative, business, and legal research; evaluates and implements KM tools and processes; and develops strategies to enhance workflow efficiency across legal and administrative departments. Tiffany trains attorneys and staff in effective research techniques and drives adoption of innovative solutions that advance operational performance. She is also an active member of the Procopio Enterprise Risk Management Committee. Before joining Procopio, Tiffany worked at various law firms and served as an information specialist at McKinsey & Company, a global management consulting leader.

James (Jim) G. Perkins
https://www.procopio.com/people/james-g-perkins-phd

James (Jim) G. Perkins is chief operating officer and chief compliance officer
at Procopio, Cory, Hargreaves and Savitch LLP. For the last 25+ years, Jim has
led Procopio’s non-legal operations including finance, human resources,
administration, marketing and business development, information services,
and knowledge management. He is a member of the firm’s management committee and in 2012 also became the firm’s CCO, responsible for developing
a firm Enterprise Risk Management Program. In his CCO capacity he
also serves as co-chair, together with the firm’s general counsel, of Procopio’s
Enterprise Risk Management Committee. Over the years, Jim has spoken
regularly on law firm management issues and business strategy at conferences
and international law firm network meetings, in addition to authoring
several articles on the role of COOs in law firms, law firm profitability, and
technology. He also consults occasionally as part of the Procopio Business
Advisors affiliate. Prior to joining Procopio, Jim served in various leadership
capacities at professional service firms in both the US and UK. He has a PhD
from the University of Surrey, England, and an MBA from the University of
Chicago.

Michael Roster
https://sites.google.com/view/michael-roster/home

Michael Roster was formerly managing partner of Morrison & Foerster’s Los Angeles office, co-chair of the firm’s Financial Institutions Practice Group worldwide, resident in both LA and DC, and a member of the firm’s policy committee. In 1993, Mike was appointed general counsel of Stanford University, Stanford Medical Center, and Stanford Management Company. He subsequently was executive vice president and general counsel of Golden West Financial Corporation. Mike has served as chair of the Association of Corporate Counsel (currently 45,000 in-house lawyer members worldwide), chair of the Stanford Alumni Association, steering committee co-chair of ACC’s Value Challenge, and chair of two start-up companies. Mike currently teaches Contract Drafting and Analysis at the University of Southern California’s Gould School of Law and is also currently a director of MDRC in New York, a non-profit organization that evaluates the effectiveness of government and other programs affecting lower income families and individuals.

Benjamin Viney
https://www.linkedin.com/in/benjamin-viney-6a9083a/

Benjamin Viney is WTW’s practice lead for work, rewards, and careers, GB and Ireland. He advises clients on partner and associate pay, performance and related areas, and specializes in working with global professional services firms, including legal, accounting, consulting, engineering, surveying, architects, and executive search. Benjamin has undertaken extensive research on partner pay and performance, highlighting key trends in partner compensation.

Richard Burcher