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 were recognized […]
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 subjective factors
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 billing
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 Morgan Lewis
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 and
When it Comes to Law Firm Billing Rates – Size Matters! Read More »
Outsourcing legal work – or any work – is something law firms are doing with increasing frequency. The biggest firms – think Clifford Chance in India – are doing it and now Jacoby & Meyers are facing a lawsuit over billing work handled by “support companies” owned by some of the current or former partners
Lawsuit Against Law Firm Over Law Work Outsourcing Read More »
The ever-shifting sands of the law profession show lawyers and the way they practice continue to change, often radically. New research undertaken by law recruiters Robert Half took a look at the current changes in their “Future Law Office” program and found mounting client service pressure, a rise in general counsel importance, talent wars and
Law Practice: Talent Wars, Client Pressures, Flexible Work Read More »
Law firm mergers are tricky business, but the payment to Bingham partners of amounts of up to $4 million to $5 million contributed to the problems for the firm, the departure of partners and other major issues.AmLaw Daily reported the story about the financial guarantees to the former McKee Nelson law firm after its 2009
Bingham Problems Stem From Major Partner Payments Read More »
