Legal Business Glossary

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Timekeeper (TK)

Person within the legal department, such as an attorney, paralegal, associate, or admin, who calculates how much time is spent working on a matter or project in order to accurately bill the client.


Recording the time and tasks performed on specific cases.

Trust Account

A special bank account that a lawyer or law firm must maintain in order to receive and hold money on behalf of their clients or third parties.

Trust Accounting

Maintaining client funds that are held in trust.