Lockstep compensation is as much a part of most Big Law firms in Britain and some other jurisdictions as the law firm art and foyers. However mega-firm Clifford Chance is looking at changing all that with a review that is placing more attention on merit-based compensation rather than the lockstep system. Clifford Chance is not […]
Just how law firms make money by giving away services and documents is an issue that lawyers have been examining for some time. TechCrunch have an article a bout the law firm s ranging from Silicon Valley to Boston who give away documents to statups neededing to execute basic deals. As TechCrunch report: New sites,
Lawyers Helping Startups – But How Do They Make Money? Read More »
Alternative fee arrangements are increasingly capturing the attention of innovative law firms, as well as fee-sensitive clients. So when a lawyer like Omaha labor lawyer Ross Gardner went to Orlando to speak at the human resources conference held by one of his firm’s biggest clients, it was a trip the Jackson Lewis lawyer may not
Getting Away from the $1000-an-Hour Lawyer Syndrome Read More »
Innovation in the law firm business is a growing trend as profits are trimmed with increased competition and the market for law services has slumped in many areas. And so firms look increasingly to ways they can increase their innovation to drive profitability and service levels. For small Canadian law firm Conduit Law their efforts
Can it be the beginning of the end of the billable hour for law firms? Take one, Big Law firm – in this case Jackson Lewis – who used to require associates to bill 1900 hours a year to make themselves liable for a bonus. No longer. Now Jackson Lewis are looking at other, more
Getting clients to pay on time is a major issue for businesses and professionals everywhere. Lawyers are no exception. A LexisNexis survey indicated that almost three-quarters of all firms experienced past due accounts. Here’s an Infographic from LN to explain the position. Invoicing and billing present steep challenges for law firms. According to a recent law firm
It’s to become easier than ever for non-law firms to enter the UK legal profession following recent changes made by the solicitors’ watchdog. The changes came about because changes made by the “Tesco law” reforms were failing to attract new players in the UK law business. The measures will make it easier for companies to
UK Law Changes Make It Easier for Non-Lawyers to Enter the Business Read More »
Quick question: Does the merger mania afflicting the legal market auger well or not for the law business? Is it panic, in other words, at pressured fees and increased competition, or is it the result of carefully thought through business development and marketing? Well, according to research recently undertaken, the mergers have not only created
Is The Law Firm Merger Mania Good, Bad or Just Plain Ugly? Read More »
Another Top Five contender in the law firm stakes is set to arrive with the impending merger between Bingham McCutchen and Morgan Lewis & Bockhius. It’s reported that the two firms are set to merge and would create a 2000 lawyer firm with revenues of $2 billion according to Reuters. Bingham McCutchen is Boston-based while
Awaiting the Arrival of Another Top Five Law Firm – Birth Pending Read More »
Yep, it’s true. Size matters in many things, including law firm billing rates. A recent survey conducted in New York and comparing other US cities showed that the size of the law firm was in fact the most influencial factor when it came to setting attorney billing rates. The survey was conducted across both large
When it Comes to Law Firm Billing Rates – Size Matters! Read More »
