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.
May 8, 2016 by Kirk C. Stange, Esq. Billable hour requirements are a fact of life in most law firms. To budget for the salaries of the employees and the expenses of the law firm, there generally has to be some requirement in place. If there is no billable hour requirement in place, the reality is that most law firms can get into budgetary problems.