Ever wonder what your law firm is worth? Here’s a shocker: Nothing, zero, zilch, nada.
While law firms around the world are scrambling for cash and the folks across the pond are counting money they will never receive...more
Citibank’s 2012 year-end report on law firm profitability tells us that 2012 was the Dickensian best of times and the worst of times. Only more worst than best.
It was the best of times because law firms reported a...more
With the advent of the Tesco laws (Alternative Business Structure) across the pond, investors flocked across the pond last year in the same mad dash for riches as the hordes moved to Northern California in the gold rush of...more
As we face a challenging 2012, it is obvious that among the critical tools each law firm must master is the art of collaboration. For law firms to survive what will be a bumpy road, collaboration and full engagement at every...more
The ABA’s Commission on Ethics 20/20 just issued its long awaited discussion paper on admitting nonlawyers as partners to law firms. Frankly, these guys, who are certainly smart and dedicated, just don’t get it.
Are alternative fee arrangements a relic of the past? After being on the scene for barely two years are they bound for the trash heap?
The answer is resoundingly no. Rather, the market is requiring smarter and more...more
Major disruptions have historically always resulted in population shifts. The significant recent tumult in the legal profession are in fact causing a major population shift as lateral partner movement will likely reach...more
The remarkable and self effacing Derek Jeter just became the 28th major league baseball player to have hit 3,000 base hits. What makes Jeter so remarkable is not merely his talent as a batter and fielder, but his emergence...more
Demand for legal services has remained fairly stagnant for the past four years. At the same time, corporate clients, buffeted by The Great Recession and cognizant of the excess of supply over demand for legal...more
It used to be comparitively easy to establish a successful law firm. It used to be all about having the talents, skills and connections necessary to attract clients and then hiring the best lawyers money could buy to give...more
With the increasing proliferation of Alternative Fee Arrangements and clients’ demands for value billing, rather than hourly billing, we turn to some of the important issues in drafting an AFA agreement. Recent surveys show...more
Instead of typical season’s greetings from grateful clients flooding lawyers’ offices, a more ominous wave of seasonal messages are streaming in to lawyers’ inboxes. The message from clients is “Thanks for your swell work...more
Navigating the Perfect Storm will enable you to re-examine your current recruitment, training and retention processes of both law school graduates and lateral partners to ensure that your firm is in a better position to...more
On Friday I had the honor of speaking on "Online Legal Practice Management in the 21st Century" at an event called "The Practice", a daylong nuts and bolts seminar pulled off to perfection by Brian Tannebaum and the folks at...more
As if lawyers don't have enough to do. In the last decade, with clients looking at the hiring of law firms through the specatcles of a purchsing agent, clients have been requiring law firms to submit lengthy, detailed...more
Is it the end of lawyers or the time of the 'super lawyer'? The future of law; Professor Richard Susskind; relationship marketing; relationship sales; soft skills; paradigm shift; commoditisation of legal services; customer...more
The attack on the citadel of hourly billing continues unabated. Alternative fee arrangements and value billing are rapidly taking the place of selling hours by the bush-full. But, how do you measure the value in value...more
As law firms cautiously consider the lateral market and as law firm partners, sometimes warily and sometimes by necessity, consider making lateral moves, seeking better opportunities, or because they are being eased out the...more
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