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Increasingly, law firms rely upon acquiring lateral partners and practice groups to grow revenue more quickly than they can by increasing output with existing talent. Larger firms understand that this is a good way to move up quickly on the AmLaw 100 or 200 scale (which rank firms based on gross revenue) and increase average profits-per-partner (a key metric for attracting sought-after lateral candidates). Smaller firms also recognize the importance of lateral recruiting to making big jumps in profit over a short period of time. Regardless of where in the food chain a firm resides, achieving even incremental upticks in gross income through lateral acquisition can translate into substantial increases in profitability.
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What Every Lawyer's Client Needs to Know About Succession Planning
By Nanette Miner
I often run into business people who are confused about the differences between succession planning and exit planning. You are in the unique position of being able to guide your clients through the confusion.
What We Should Have Learned from COVID: Communicate
By Mark Santiago
First COVID Lesson: Leaders should communicate regularly to their firms in a more personal way, let their personality shine through, show some vulnerability and maybe reveal that they own a dog.
Using Collaborative Content Development Highlights Lawyers Expertise
By Meg Pritchard
The goal of a collaborative content approach is to fill resource gaps in the content process, from concept through creation to publication or release, so that more and better content gets to the right audiences.
Can Clients Protect Communications Between Their Lawyers and PR Firms?
By Jonathan B. New, Patrick T. Campbell and Rachel H. Ofori
This article summarizes how courts view communications between a company’s counsel and its PR firm during investigations in the context of privilege and provides practical insights and tips for counsel to maintain privilege over such communications.