This topic contains a solution. Click here to go to the answer

Author Question: What are billable and nonbillable hours? Why do law firms seek to maximize their billable hours? ... (Read 27 times)

Engineer

  • Hero Member
  • *****
  • Posts: 527
What are billable and nonbillable hours? Why do law firms seek to maximize their billable hours?
 
  Ans?

Question 2

What is a sole proprietorship? For a paralegal, what are some of the benefits of working for a sole proprietor (a sole practitioner)?
 
  ?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mmpiza

  • Sr. Member
  • ****
  • Posts: 354
Answer to Question 1

Billable hours are the hours or fractions of hours that attorneys and paralegals spend in client-related work that requires legal expertise and that can be billed directly to clients. For example, a paralegal's time spent researching or investigating a client's claim is billable time. So is the time spent conferring with or about a client, drafting documents on behalf of a client, interviewing clients or witnesses, and traveling on a client's behalf (to and from the courthouse to file documents, for example). Time spent on other tasks, such as administrative work, staff meetings, or performance reviews, is nonbillable time. For example, suppose that a paralegal spends 30 minutes photocopying forms for the forms file, time sheets, or a procedures manual for the office. Those 30 minutes are not considered billable time.
Generally, law firms have a legitimate reason for wanting to maximize their billable hours: The financial well-being of a law firm depends to a great extent on how many billable hours are generated by its employees. Nonbillable time ultimately cuts into the firm's profits. Therefore, the more billable hours generated by the firm's legal professionals, the more profitable the business will be.

Answer to Question 2

In a sole proprietorship, one individualthe sole proprietorowns the business. The sole proprietor is entitled to any profits made by the firm but is also personally liable for all of the firm's debts or obligations. An attorney who practices law as a sole proprietor is often called a sole (solo) practitioner.
Working for a sole practitioner is a good way for a paralegal to learn about law office procedures because the paralegal will typically perform a wide variety of tasks. Many sole practitioners hire one person to act as secretary, paralegal, administrator, and manager. Paralegals holding this kind of position would probably handle many tasks: receiving and date-stamping the mail, organizing and maintaining the filing system, interviewing clients and witnesses, bookkeeping (receiving payments from clients, preparing and sending bills to clients, and the like), conducting investigations and legal research, drafting legal documents, assisting the attorney in trial preparation and perhaps in the courtroom, and other jobs, including office administration. Working for a sole practitioner is a good way to find out which area of law you most enjoy because you will learn about procedures relating to many different areas. Alternatively, if you work for a sole practitioner who specializes in one area of law, you will have an opportunity to develop expertise in that area. In sum, working in a small law firm gives you an overview of law office procedures and legal practice that will help you throughout your career.




Engineer

  • Member
  • Posts: 527
Reply 2 on: Aug 3, 2018
Great answer, keep it coming :)


ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

For a complete list of videos, visit our video library