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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 Robert M. Jason
This article provides a general introduction to social media influencers and discusses common tax issues arising on the income side of the equation. What is taxable income? What happens if the influencer’s compensation is paid in equity?
By Jamie B. Field
Data is taking over our lives. And preceding that is all of the applications and technology that exists that helps us measure that information. But technology and data are not going to be the only growth drivers of a firm in the future. What’s going to become most important in the face of the technological changes that are occurring in law firms is a lawyer's "soft-skills."
By Dan Packel
Forty firms out of the Am Law 200 offered details on the steps they’re taking to improve mental health and wellness among attorneys and staff.
By J. Mark Santiago
This article focuses on what a firm can do now that will improve future firm economics regardless of what the future may hold, identifying three areas that offer the great opportunity for improving a law firms’ economics and better positioning them for whatever the future may bring.