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Ever since the financial crisis of 2008, law has become an unbelievably competitive business. Further, if you’re operating a law firm, you know that one of the few levers you can move to make your firm more competitive is the one labeled “technology.” However, advanced technology isn’t free. Outfitting your team with equipment that will move the needle can require an impossibly large capital outlay. The solution may not be, therefore, to purchase all that gear. It may be to lease or finance it. Leasing your technology can be a strategic decision, and a key to succeeding in an incredibly competitive market.
By Timothy B. Corcoran and Marcie Borgal Shunk
The Manner in Which Law Firm Leaders Measure Profitability Has the Potential to Have a Profound Impact on Behavior and Motivation, Particularly As More Firms Integrate This Metric Into Their Compensation Systems
The manner in which law firm leaders measure profitability has the potential to have a profound impact on behavior and motivation.
By Dan Packel
Law Firms Partner With the Big Four to Serve Their Clients, But the Accountants Pose an Existential Threat. What Will Happen If — or When — They Turn Competitive?
For law firm leaders, rank-and-file partners and everyone else in the law firm ecosystem, the Big Four shouldn’t be a laughing matter. They are serious about selling legal services, and clients are listening.
By Bill Josten
“You have to spend money to make money.” Or, so holds the well-worn cliché. Nevertheless, for those firms struggling to find meaningful growth in today’s market, where do they find the funds they need to spend in order to spur growth?
By Lawrence L. Bell
The rule, overseen by the DOL’s Employee Benefits Security Administration, modifies the definition of “employer” under ERISA regarding entities that could sponsor group health and benefit coverage.