• The Relationship Between Leadership and Management in More Successful Law Firms

    March 01, 2018 |

    Financial stability within a law firm practice does not guarantee harmony within the partnership itself — far from it. Law firm management that does not acknowledge or reflect the importance of firm leadership and the contributions and needs of its members endangers a firm's cohesiveness and its very existence, no matter how many clients come through the front door.

  • Do Mergers Increase Profitability?

    January 01, 2018 |

    The Numbers Say Yes, But Not for the Reasons Many May Think

    Conventional wisdom has it that mergers enhance profitability through increased revenues and reduced costs. However, the numbers contradict this view: post-merger revenues are lower relative to competitor firms than are the sum of the predecessor firms' revenues, and costs per lawyer increase markedly.

  • Litigation Funding Changes Legal Landscape for Boutique and Small Firms

    January 01, 2018 |

    The Growth of Third-Party Litigation Funding Has Been a Boon to Small Firms, But Boutique Firms Are Taking a Hit

    The growth of litigation funding has widened the pool of law firms that can take on big cases, but their increasing popularity means boutique firms that have traditionally landed multimillion-dollar lawsuits by taking them on contingency or offering alternative fee arrangements are now taking a hit.

  • 2017 Roundup: Equity vs. Non-Equity Membership

    January 01, 2018 |

    Last Year Saw a Number of Interesting Decisions Concerning the Identity, Rights and Obligations of Non-Equity Owners, Including Partners and Shareholders

    2017 saw a number of interesting decisions concerning the identity, rights and obligations of non-equity owners, including partners and shareholders. As more firms utilize non-equity members to play vital roles within their firms, it will become more important for them to take note of these decisions and the guidance they provide.

  • Can Millennials Save Your Law Firm?

    December 01, 2017 |

    After Years of Complacency About Their Business Model and the Pipeline for Talent, There's a Reason Law Firms Are So Worried About Managing the Millennial Generation

    For law firms wringing their hands about how to manage the millennial generation — or asking why they should adapt to this crop of young lawyers in the first place — here's the bad news: If you're still clinging to traditional models for training associates and running the partnership, you've already fallen behind. The millennials are here, they're climbing the ranks, and they've already begun to transform the industry.

  • Law Firms, Partners Await Answers on Trump Tax Plan

    November 02, 2017 |

    Will big law firms and their partners benefit from the new Republican tax plan promoted by President Donald Trump? Not necessarily, according to tax experts who say some gains may be eroded by loss of crucial deductions.

  • The Administrative Services Hat Trick

    November 02, 2017 |

    At the ALA annual conference in Denver, I was speaking on how law firms could provide better administrative support for their attorneys and how alternative strategies were being deployed by some law firms to achieve those goals. After my session, the discussion continued with a group of participants and the hat trick metaphor was born.

  • Role and Responsibilities of Practice Group Leaders

    October 02, 2017 |

    Ideally, the objective of defining the role and responsibilities of Practice Group Leaders should be to establish just enough structure and accountability within their respective practice group to maximize the economic potential of the firm, while institutionalizing the principles of leadership and teamwork.