Archive for the tpoic: ‘billing rates’

Going Up: Elevator Clauses, Client Consent and Increased Billing Rates

Monday, January 26th, 2009

With 2009 upon us and the cost of operating a firm rising steadily, many lawyers may wonder how to increase billing rates for existing clients. What must a firm do before it increases the billing rate for clients who already have signed a retainer agreement? Can the firm increase its hourly rate without notifying the client? If the firm must give notice of rising rates, can notice be verbal or must it be written? If the client consents to the proposed rate increase can that client still challenge the modification later?

Read my latest article, “Going Up: Elevator Clauses, Client Consent and Increased Billing Rates,” in Legal Ethics in January 26, 2009 edition of Texas Lawyer.