I have blogged in the past about the debate on whether the billable hour system of billing is losing its popularity (here).
Today, in an article in the Wall Street Journal law blog, Ashby Jones states that "Dating to about five minutes after the billable hour was born, folks have been predicting its death. But throughout it all, no other billing method has come close to knocking the billable model from atop its lofty perch. Until now, it seems. According to an article in Legal Week, both Mayer Brown and Reed Smith are looking hard at moving to fixed or capped fees for their transactional work. is looking to move away from traditional hourly billing models, with plans to bring in fixed or capped fees for transactional work."
For the full article go here.