What Every Lawyer Should Know about the Economics of Law Practice? See http://www.law.com/jsp/law/sfb/lawArticleSFB.jsp?id=1188378146356.
It would have been nice to have this article several years ago when I started my practices. What do you know about the economics of law practice?
I like this article. It reminds me again why I decided to use primarily flat fees in my law practice as opposed to hourly fees because in order to make more money with hourly fees you have to work more and bill more and there are only so many hours in the day, right? Then in order to generate more revenue, you have to add associates who will work and bill hours.
The article mentions the gap between law school education and the professional practice of law. What do you think law school can do to better prepare attorney for the practice of law?
I can't imagine in nursing school if we as students didn't have clinical hours, externships, and entire course semesters that focused on the care of a specific patient population. What if nursing school was structured like law school; do you think you would have learned more or less? I know its hard to compare the two but I have always said that nursing school (ASN and BSN) was tougher than law school. Now the Bar Exam is an entirely different story...
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