While you might have thought lawyers were always high-priced mercenaries, the cost of legal advice was historically modest. What Supreme Court opinion blew the lid off lawyer fees, ushering in dominance of the billable hour?
Hint: Prior to this 1975 opinion, firms had to contend with state regulations capping fees and the push for a billable hour as an academic concept had only achieved traction within the prior 15-20 years.
See the answer on the next page.