Full Definition of SPILLAGE. 1. : the act or process of spilling. 2. : the quantity that spills: material lost or scattered by spilling.See spillage defined for English-language learners. See spillage defined for kids. ADVERTISEMENT.ull Definition of SPILLAGE. 1. : the act or process of spilling. 2. : the quantity that spills: material lost or scattered by spilling. See spillage defined for English-language learners. See spillage defined for kids. ADVERTISEMENT.
The billable-hour system is the way most lawyers in big firms charge clients, but it serves no one. Well, almost no one. It brings most equity partners in those firms great wealth. Law firm leaders call it a leveraged pyramid.
One partner in a major Chicago law firm claimed that he billed, on average, 5,941 billable hours per year for four years in a row. There are only 8760 hours in an entire year. To bill 5,941 hours per year, you must bill over 16 hours per day, every day, for 365 days.