Looking at law firms in the US, reports on upward trend in the cost of securing legal services – page 5
“Over the last decade, corporate firms have increased their hourly rates by 6-8 percent annually, nearly double the rate of inflation. Such rate increases have been a driving force behind the increased profitability of many large and mid-sized law firms. In one sample, rate increases accounted for two thirds of revenue gains achieved between 2003 and 2004. Page 6
Overall payments to counsel in some cases seems to have increased over time (page 7). Table shown on page 8. Payment costs where counsel was not used on page 9. Conclusions on page 16.
Report lawyers who advertise tend to charge less than those that do not (page 4). Some nuances to this point on same page.
Report discusses discount costs of court fees – eligibility rates (page 29).
Report refers to Jackson report, which in turn said that referral fees for PI work added to litigation costs without adding value (page 8).
Report suggests that recession has caused a drop in fee income and charge out rates among big firms (page 7).
Breakdown of Court Fees increases from 1998-2004
Suggested that when licensed conveyancers first entered the market, they charged 20-30% less. But then, over time, price increased among solicitors (page 798). And then price differential between solicitors and conveyancers decreased too (page 799).
Commenting on the impact of increased referral fees, report states:
There was no evidence that increases in referral fees had led to an increase in the price of legal services. Price does not play a strong role in personal injury cases because of the prevalence of
Time series of hourly charge out rates broken down by solicitor segments.
Discusses whether legal costs had increased post-Woolf in PI cases (page XXXvii) – yes, . In insurance cases, claimant rates went up, defendant rates fell (page 62).
Various reports suggest that advertising leads to lower fees (page 5)
Highlights increasing resistance from clients to pay by the hour, wanting fixed fees. – page 10
Yes – move towards tending and fixed price for police advice (page 37 – 38).
Impacts of regulation changes on costs -
In Australia, the removal of lawyers