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It’s now been 10 years since the economic crisis of 2008, and just under 10 years since we saw the greatest dip in demand for services experienced by the legal market. The market has stabilized since then, but growth has remained, year-over-year, flat. The Thomson Reuters 2018 Report on the State of the Legal Market shows this trend will continue as we see a market characterized by flat to sluggish growth, a continued decline in productivity, modest rate increases and the continued downward pressure on realization. (A free copy of the report can be downloaded at http://bit.ly/2oaRwbz.)
By Joel A. Rose
An Astute Lawyer-Manager Must Achieve the Appropriate Balance of Building Consensus Among the Partners
Applying management techniques to practice areas may introduce to the firm a new take on methods for enhancing profitability.
By Ari Kaplan
As the volume of litigation continues to grow and the ability to manage it as a defendant or add to it as a plaintiff grows increasingly complex, legal costs will continue to rise in 2019 — and funding advocacy on both sides will remain a lingering challenge.
By Lawrence L. Bell
When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.
By Ishan Girdhar
The Big 4 accounting firms have identified legal services as an area for growth beyond traditional financial services and consulting services.