The legal industry’s newest buzzword is “overcapacity.” It’s constantly invoked in reports of flat revenue and declining profits in law firms, usually as the reason for and precursor to cuts of all kinds, from secretarial…more
Law firms are often criticized as being late to innovate, if at all. As I discovered at a recent law firm retreat, the creativity and willingness to innovate resides in the attorneys. It just takes a structure and leadership to…more
Law firms have a problem: growth is at a standstill or shrinking, reducing lawyers' income and compromising partners' profits. Many firms believe they have a solution: slash costs and inject revenue. They fire secretaries, cut…more
According to the National Association of Women Lawyers, in an article at law.com, women today constitute just 15% of equity partners in AmLaw 200 law firms.
Set aside for a moment any considerations of fairness or gender…more
Readers of a certain age will remember when U2 first sang: “Nothing changes on New Year’s Day.” Not the most uplifting message, perhaps, at this happy time of renewal and fresh starts. But we all know that it’s largely true…more
Growth in a law business is not the same thing as adding more lawyers. Law firms do not exist in order to provide steady employment to the maximum number of lawyers; or, if they ever did, they don’t any longer. Law firms exist…more
The 2012 Edge International Global Partner Compensation System Survey highlighted that appointments of salaried partners are increasing. These are lawyers appointed partner and paid a fixed amount in money or an amount of money…more
For the third time, Edge International has surveyed the largest law firms in the world to understand how partner compensation systems are changing to meet economic challenges, non-equity partnerships and changing young partner…more
Looking at at their practice group and client team leaders, they say things like:
"I have the right people in position, but they are not moving the needle."
"Our leaders spend too much time on the wrong things -…more
In hindsight, it is so easy to observe the faulty judgment of the climbers. The failure to plan for absolutely predictable events left the climbers with diminished choices about how to protect themselves.
What does this…more
I was struck by a recent report that a large global firm had cut its support staff to achieve a 4-to-1 attorney-secretary ratio. The usual reasons were cited: technology had taken over many administrative and clerical tasks…more
As firms have expanded to other cities and even countries, the relationship among its equity holders inevitably has changed. It’s difficult to refer to a lawyer, in another office, whom you’ve never met and likely never will, as…more
By Tony Bash, Edge International, UK…more
Edge Welcomes New U.S. Partner Mike White
Mike White is joining Edge International to continue his consulting practice. With more than 20 years experience as a lawyer and manager of multiple business services companies, Mike…more
I am finding more small- to medium-sized firms talking to me about the role of a 'virtual' Finance Director. This may be a UK phenomenon caused by worries over the new mandatory position of a Compliance Officer for Finance and…more
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