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3 Factors for Successful Hourly Rate Adjustments

Beyond alternative fee arrangements, firms should consider hourly rate adjustments with three factors in mind: psychological pricing, client feedback and growth. All three are vital for aligning fees with perceived value while supporting the firm’s financial health.

4 minute read February 01, 2025 at 12:05 AM
By
David Ackert
3 Factors for Successful Hourly Rate Adjustments

Setting legal fees is both an art and a science, requiring firms to balance their business goals with clients’ expectations.

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The Copyright Royalty Board (CRB), which works under the umbrella of the Librarian of Congress, sets statutory-license royalty terms and rates. The U.S. Courts of Appeals for the D.C. Circuit recently issued two notable decisions about the CRB.

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