Why You May Not Be Getting 'Fair Value' With Discounted Legal Rate

, Corporate Counsel

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Law firms will continue to use anchoring as a pricing model for legal work. Billable hours are very conducive to it. In-house counsel would be wise to read William Poundstone's book called 'Priceless: The Myth of Fair Value (and How to Take Advantage of It)' to understand the principles behind the pricing model. Once you do, you’ll never look at a law firm discount the same.

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