Asked by Kirsten Olson on May 07, 2024
Verified
Law firms keep track of billable time by requiring legal professionals to submit time slips, and usually require attorneys or paralegals to generate a minimum number of billable hours per year. The reason for requiring a minimum number of billable hours is
A) to accurately bill clients.
B) to subject legal professionals to a significant amount of pressure.
C) that the financial well-being of the firm depends on the number of billable hours generated by its employees.
D) that only billable hours can be billed to the clients.
Billable Time
The time spent by professionals like attorneys that can be invoiced to clients, often measured in specific increments like hours or minutes.
Billable Hours
The hours that legal professionals charge their clients for, typically reflecting work done on a case.
Legal Professionals
Individuals who work in the legal field, including lawyers, judges, paralegals, and legal assistants, among others.
- Absorb the details regarding different legal fees and how billing is conducted.
- Describe the ethical guidelines related to billing and time management.
Verified Answer
Learning Objectives
- Absorb the details regarding different legal fees and how billing is conducted.
- Describe the ethical guidelines related to billing and time management.
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