Billing Rates, Utilization, and Realization
Learn how hourly rates, utilization rates, and realization rates impact the bottom line, and how to manage the profitability of your individual practice.
Welcome to Billing Rates, Utilization, and Realization! The profession of law is an ancient one, traceable to the orators of the Roman Empire. However, the phenomenon of charging by the hour is relatively new, having been introduced only in the last century. Indeed, for thousands of years, being a lawyer would not make you rich, as there were limits on how much a lawyer could charge. Once those limits disappeared, and once lawyers discovered they could bill by the hour, all that changed. At...