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Hasn't this conversation been happening for decades? It's like Texas turning blue.
Coach
Fixed fees measure work to be done, billable hours measure provider opportunity cost. The latter is more provider favorable. Neither is right or wrong and they ebb and flow as power shifts per market forces. Right now it's a seller's market in legal services so no real pressure off billables but in a recession there would be.
Mentor
This is probably practice area dependant. Litigation is way too unpredictable for fixed fees, so I don't think firms are going to bend on that.
As a litigator I don’t see how it would work. You can’t just set a flat fee at the onset of a case cause soooo many things will unfold and discovery and motion practice can make a case wayyyy more or way less work than anticipated
As someone in litigation, I don’t see how this model is feasible or practical. I cannot reasonably anticipate how time consuming discovery will be at the outset of being assigned a matter. Nor can I reasonably anticipate what motions will need to be filed. Is this more feasible in a transactional setting? Probably.