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The promise of new client relationships is driving the vast majority of lateral partner movement today. In fact, lateral acquisition has become the primary growth strategy for many law firms. Both the new firm and the lateral are often surprised by how few clients actually move to the new firm. A study I did in 2016 with ALM found that 30% of the law firms interviewed brought less than 50% of the clients they had projected to come with the lateral. Keep in mind that law firms often discount the book of business by as much as 50% to begin with. I doubt the results are much better today.
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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.
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