According to the American Bar Association (ABA), drafting is a “mission-critical function” for all law offices. Your legal documents should capture your practice’s intellectual capital and set it apart from other competitors. While drafting methods have remained relatively unchanged for decades, the increasingly hyper-competitive legal market has forced attorneys to seek out and adopt new legal technologies to streamline their drafting processes.
Adding customized clauses and provisions to a legal document is a great way to tailor a document to a client’s specific goals and circumstances. However, creating a new provision or tailoring an existing provision for a new client can be time-consuming, not to mention risky. To cut down on time and reduce the inherent dangers of simply editing an existing document, attorneys often make the mistake of using boilerplate provisions.
The traditional hourly billing method has long been a contentious topic among attorneys. But, with the increasing demand for better cost predictability and transparency, does this billing method need a refresh or should it be ditched for other billing strategies?