Author: Richard Burcher

Law firms and their clients often find themselves at odds when it comes to valuing legal advice. A common refrain from clients is, “I’d rather have concise and prompt advice than a slower, more detailed assessment.” That is entirely reasonable and aligns with what most clients want—quick, clear, actionable guidance rather than lengthy legal memos.…

The latest 2025 Report on the State of the US Legal Market from Thomson Reuters offers a candid snapshot of a legal industry in flux. Pricing, profitability, and the ongoing battle between hourly billing and alternative fee arrangements (AFAs) are at the heart of this evolution. Here are the standout insights—and why they matter for…

As the legal services industry evolves, pricing remains a key driver of competitiveness and profitability. Below are my predictions for how pricing strategies will transform over the next five years. The Role of Pricing Professionals: Technology-Enabled Reach Beyond Centralisation Specialist pricing and legal project management (LPM) teams will play an increasingly vital role in law…

If you’ve ever travelled on the London Underground, you’ll be familiar with the constant announcement: “Mind the Gap.” It’s a simple but essential warning to take care when stepping between the train and the platform. In the legal world, there are two critical “gaps” that firms must navigate—both of which have significant implications for profitability…

Optimism bias is a common psychological tendency where individuals believe they are less likely to experience negative outcomes and more likely to enjoy positive ones than others. In the context of legal pricing, this bias can lead to underestimating time, costs, and risks, ultimately harming profitability and client relationships. By recognising optimism bias and integrating…

The legal industry is undergoing a transformative shift with the integration of generative artificial intelligence (AI). As law firms strive to enhance service delivery, the hybrid model—combining human expertise with advanced technology—emerges as a compelling strategy. This model not only promises substantial cost savings for clients but also necessitates a fair compensation framework for law…

Pricing strategies are not just about reflecting the time and effort required to deliver a service; they also need to account for the risk profile of the work being undertaken. This approach is both a practical necessity and a regulatory requirement in most Western legal jurisdictions. Failing to incorporate a proper risk assessment into pricing…