Legal Insights: Billing for legal services when time is no longer the measure of value

Legal billing

 

This article is part of Hunit’s Legal Insights series. We’re sharing some of the key learnings that we’ve gained from in-depth interviews with legal professionals across multiple international markets.

We’ve called our series of in-depth interviews with law firms and financial service providers our “listening tour”.  Using a standardized set of discussion questions, we set out to gather systematic insight on the legal professional’s day-to-day operations, their problems, their concerns and of course their understanding of DLT and smart contracts.

One of the listening tour’s key discussion points concerned billing methods in an environment when a lawyer’s ability to create value for the client is disassociated from the use of their time (billable hours). In an increasingly technology-enabled environment, what does the law firm of the future’s customer invoice look like? Read More…

Legal Insights: < 1 in 4 chance of code-based smart contracts becoming mainstream

 

This article is part of Hunit’s Legal Insights series. We’re sharing some of the key learnings that we’ve gained from in-depth interviews with legal professionals across multiple international markets.

We recently posted an article entitled “Legal Insights: Will the lawyer of the future know how to code?” where we talked about assessing adoption chain risk. While we made a quick reference to the seminal book on the subject, we didn’t discuss much of how that process works or how we reached the conclusions that we did.

Thanks to some of the feedback we received, we realized that there was general interest in the process that we followed and how we reached our results. As our childhood algebra teachers used to admonish us: “Show your work” – So we did! Read More…