I agree with Alan Weiss, lawyers are unprofessional and mostly terrible at maximising income. They charge 1:1 hours to fees which is a bad deal for a professional.

The legal work I did was for an expert witness case as a subject matter expert (not a lawyer). There is no way we could have/would have agreed to a fixed fee up front unless it was for a really outrageous amount. (Well, it ended up being a pretty outrageous amount anyway but there's no way we could have reasonably scoped the work.)

Most of the work we did in general was for specifically scoped deliverables and we actually tried very hard not to do day rates, much less hourly rates, but this was one case it really wasn't avoidable--and, of course, was the way the white shoe law firm operated.

Lawyers are mostly pretty bad at pricing, let’s not use them as a benchmark for our industry.

But yes, you did some law work and they want you to charge hourly rather than based on value.

The point is that we would have had no way of pricing "value" up-front. It wasn't our primary business (which we mostly did price based on value). So charging $500/hour (or whatever it ended up being) made a lot more sense for everyone than just throwing a $100K invoice out there when we really didn't have any idea what sort of time commitment we were looking at.