Have you ever attended a presentation that reminded you of the phrase, “Death by PowerPoint”?
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
Your law firm website will never reach its potential unless your content is directed to a clearly-defined audience. Since you cannot know the exact characteristics of each potential reader, you should think in terms of...more
With law firm expenses rising at a rate three times higher than revenues, law firms have been working feverishly to cut the expense side and maximize revenues, to rather good effect, thus far. This has resulted in a perfect...more
Desperate people do desperate things. This basic maxim applies in spades to lawyers.
Recent press disclosures concerning high profile law firms and, in at least several instances, of seven and eight figure thefts from...more
We are in a frenzy of lateral law firm partner movement.
Much has been written about the spate of movement during the opening weeks of 2012. But too little has been written about the steps partners should be taking in...more
Lateral hiring of partners by law firms can bring on great risks and result in huge financial disappointments. Lateral hiring can also create enormous rewards.
We have seen a spate of law firms literally fail because of...more
Time sheets – the bane of lawyers everywhere – you can’t live with them and you can’t live without them.
The endless debate continues as to whether in this era of AFA’s, fixed fees and the like, lawyers and law firm...more
United States based based law firms are sprouting offices abroad in epidemic fashion. A global web of offices is often perceived as assuring enhanced revenues and profitability.
Virtually every one of the AmLaw 100...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
Citibank’s third quarter report on law firm profitability for 2011 was just issued and while artfully couched in cautious euphemistic terms, there is much in Citi’s reports which should give law firm leaders much to be...more
I don’t know about you, but if I see one more article telling me how important it is for me to grow my practice through social media, I may toss a grenade. If I see one more article entitled “Seven Important Steps to Take...more
The United States is about to be invaded by a variety of foreign law firms and alternative providers of legal services from all four corners of the globe. These new market entrants are bent on providing a full array of legal...more
As Jeff Carr the voluble distinguished general counsel at FMC Technologies has long noted, legal services can be into four buckets: counseling, advocacy, process and content. See, for example,...more
The classical definition of a consultant is somebody who takes off your watch and tells you what time it is.
Citibank’s annual midyear report gives true meaning to that metaphor. The top notch folks at Citibank, the...more
Traditional law firms are in real danger of becoming extinct. The rising competitive pressures from Internet based providers of legal services, legal project outsourcing companies, ediscovery services and other forms of non...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
Open Market Auction Exchanges for the Purchase and Sale of Legal Services: An idea whose time has come?
We are still very much in a buyer’s market for legal services. Supply continues to far outstrip demand. Law firms...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
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