What has changed? Until February 2017, there was a fixed limit on the amount losing a case could cost you. For individuals, the maximum of the other side’s legal costs you could be made to pay was £5,000. For organisations like Friends of the Earth it was £10,000. This limit, although still a considerable cost, […]
For some years, I have used the analogy of building a house as to the fallacy of not providing a budget/estimate of the cost, passing along efficiencies and fixed-fee certainty over the hourly rate. However, Headon provided me with an analogy that provided even greater clarity as to the need for innovation in both pricing […]
How does this relate to per-partner pricing? In the world of hosted software or programs for channel partners, there’s always a discrepancy between how many partners CAN participate and how many ACTUALLY participate. You can’t control human behavior, especially the behavior of channel partners. You can try to influence it, but you can’t control it. […]
In this #PricingPodcast, we talked with Whitney Gibson, a Partner at the Vorys, Sater, Seymour and Pease LLP law firm, and a knowledge expert on unauthorized sales, online. Whitney shared why businesses and consumers alike should be concerned with unauthorized sellers who sell diverted products. Sellers on eBay and other third party online marketplaces are causing many […]
Twenty-one percent of lawyers “upbilled” for their time in 2015, rounding up their hours worked to the next hour or half hour, according to an analysis of legal invoices from about 100 companies. Upbilling could raise the annual legal bill by about $29,000 for a partner billing 2,000 hours a year, according to the 2016 […]
Senior pricing executives come from many developmental paths–from FP&A/technical finance backgrounds to MBA/strategy, business development, practice management, and even senior partners with extensive experience in key client negotiations and profitability analysis. Whatever the profile, the individual must have the credibility and capability such that they are viewed by the partnership as a trusted senior advisor, […]
In their recently published “2017 Report on the State of the Legal Market,” the Center for the Study of the Legal Profession at Georgetown University Law Center, and Thomson Reuters Legal Executive Institute, noted that 2017 marks the 10-year anniversary of the Great Recession–and the corresponding impact on the legal market that followed: One of […]
When it comes to managing outside counsel, the CFO is usually concerned with the cost of outside counsel and the general counsel (GC) is responsible for finding a way to manage legal strategy within an often shrinking budget. The increased use of alternative fee arrangements (AFAs), however, presents an opportunity for CFOs to participate in […]
“They should try to address it usefully and creatively,” he said. The alternative “is like going to a restaurant without prices on the menu.” Despite clients’ seeming dissatisfaction with the amount of useful spending data their firms provide, few seem to be switching firms for that reason. According to Altman Weil’s report, of those firms […]
Lawyer.com is interesting from a general perspective in that it essentially shows the power of data in the legal space. The firm is profitable and growing rapidly, with annual revenues of around $4 million at this point. The whitespace that is not yet being exploited by Lawyer.com or anyone else, though, centers around two factors: […]
This Week in Pricing > 9/23/17
This Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is brought to you by: Professional Pricing Society Currently, PPS produces three major annual pricing conferences in Europe and North America. Each […]
The Psychology Behind the New iPhone’s Four-Digit Price | Harvard Business Review
Apple made headlines by announcing that the price for its new iPhone X (a fancy term for 10) will range from $999 to $1,149. These prices are commanding attention because they are significantly higher than the base prices of the two other iPhone models that were also announced, the 8 ($699) and the 8 Plus ($799). […]
Rising tuition fees could price out college students | tes
The report points out that delivery costs for HE in FE are often less than in university settings. But colleges which took part in the inquiry said they were looking at increasing their tuition fees. Truro and Penwith College told the commission it was “moving to a full fee rate from 2017-18”, while NCG – the […]
Irma price gouging highlights sad truth: Consumer fleecing is the new normal | WTOP
(THE CONVERSATION) Since Hurricane Irma put Florida in its sights, there have been thousands of reports of price gouging on everything from water to gasoline. The most notable complaint was not, however, the one alleging a US$72 charge for a six-pack of water. Rather, it was the $3,200 reportedly asked by Delta for a ticket […]
Texas AG files first 3 price gouging lawsuits | KDFW
According to a release from attorney general’s office, state law prohibits businesses from charging exorbitant amounts during a declared disaster. The Bains Brothers, who own Texaco-branded gas station in Arlington, Carrollton and Richardson, were accused of charging the higher price even while displaying signs with prices in the $3-$4 range. Additional lawsuits were filed against […]
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