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
For months, every law firm leadership team has been navigating completely uncharted waters with respect to the impact of the pandemic on the practice of law, the business of law, and the mental health of lawyers and staff who...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 recent analysis on The Legal Marketplace in a Post-COVID World, we predicted a significant uptick in law firm merger activity once the immediate medical crisis was brought under control. For larger firms, this will be...more
Before the calendar slips too far into the new year, I want to share five important emerging trends or steps for law firm leaders to consider in 2020, each of which will have significant short and long-term implications for...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
Talk of transitions and succession planning is something we are all familiar with right now. The demographics within many law firms make these areas of focus critical for future success. While most of these conversations...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
While I acknowledge the vital role that culture plays with respect to defining each law firm’s working environment, creating expected behaviors, and establishing a “glue” among the lawyers, I am increasingly seeing law firms...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