I’ve seen a few merger negotiations recently that really caught my attention because they may foreshadow a new type of law firm merger – a pure talent grab. Interestingly, none of these discussions resulted in an actual...more
Something interesting is happening in the world of law firm merger matchmaking and due diligence. Specifically, the order of importance for the key components of the vitally important compelling business case is shifting for...more
Take one type of client work for which you are competing on price. Pick something routine. Preferably work you currently process at a high volume or could process at a high volume if only you had better support systems and...more
To say that we are in a period of change and transition is an understatement. About a year ago, we all went home, the IT professionals in all law firms proved they were worth their weight in gold, and most law firm...more
In our COVID-19 Recovery Playbook, we provided our thinking for firm leadership on how to manage through the current crisis. In this four-part continuation of that work, we examine where and how the industry may be shaped by...more
There may not be another industry that self-commoditizes like legal, primarily because so many Partners choose to compete solely on price. While price is inevitably a component of all negotiations with clients, value from...more
In the course of our Partner Compensation System work, we have seen many law firms that allow origination credits to be “shared” for purposes of both financial reporting and compensation-setting. Of course, the goal is to...more
On a recent business trip to Latin America I witnessed an interesting everyday event that directly speaks to the value of leadership when dealing with a group of strong personalities. As I was walking along a park I saw a...more
Rhetorical question – a question asked solely to produce an effect or to make an assertion and not to elicit a reply (dictionary.com)
The business of law continues to change dramatically and law firm leaders constantly...more
Many law firm leadership teams are making key decisions today that will determine the long-term success or failure of their firms. The current mix of pressures on the rapidly evolving legal business model (e.g., client...more
As we continue to review and dissect 2016, something feels a little different to me. My recent conversations with law firm leaders suggest that the winners and losers (of market share) phenomenon that we first identified...more
At about this time last year, I wrote a blog about 10 Projects That Can Produce Big Results in 2016. My goal was to get each reader’s firm to focus on one signature project from a “menu” of options that would have a positive...more
One of the many painful lessons learned by the legal industry from the recession is that the key to economic success is a focus on profitability…not just revenue. Far too many firms were focused solely on fees generated with...more
We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more