Your Law Firm Does Not Have Your Incentives

If you hire a law firm, as an individual or the owner of a small business, there is a pretty good chance they will bill you by the hour. So if the work performed takes 100 hours rather than 50, you will pay them twice as much. From the law firm’s perspective, this is reasonable, because each one of their work hours is about as valuable to them as every other one (holding the specific employees on the project constant). However, if we are justified in assuming that law firms are entities that can...
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