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The “New Normal” of today is one in which raising operating costs, associate salary increases, and reduced realization rates coupled with AFAs and demands from corporate counsel for reduced rates are sapping firm profits and there is no relief on the horizon. Law firm leaders, seeing current conditions, should be asking if there is a better way.
Over the past several months, the following headlines have appeared in the legal press:
By J. Mark Santiago
Outsourcing is supposed to be the new wave of the future that will fundamentally change the way that law firms provide services to their clients and partners. But is this so?
By David J. Parnell
Aggressive Poaching In the Market Is Forcing Leadership to Contend With the Delicate Balance of Equality, Culture and Compensation In their Firms
Many leaders are no longer focused just on business development but are also trying to figure out how to continue making money and structure their firms in a way that allows them to spend the requisite money to pay top talent.
By Kelsi Maree Borland
Phil Jelsma, a partner and chair of the tax practice team at a San Diego-based commercial real estate law firm talks about the changes to carried interest, how this will impact commercial real estate investment and what investors should do now to comply.
By Mark Sangster
A survey of more than 160 law firm executives (from medium to large firms) found that law firms are among some of the highest spenders on security yet were susceptible to some of the most common risks. And the issue will grow over the coming years as the demands of the business drive the adoption of emerging technologies, such as cloud and Artificial Intelligence (AI).