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.
How the billable hours model is used in management consulting. In the billable hours model you have a consultant at, for example, Deloitte who is going to be measured on the amount of hours that he has billed to a client and the total hours he has billed in a year as a percentage of the total hours he could have billed.