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Managing partners and members of executive committees in the more successful law firms that are organized into substantive departments and/or practice groups strongly support the concept of having Practice Group Leaders (PGLs) assume a major role in their firms’ efforts to: 1) insure partner coordination, control and accountability over fields of law, areas of practice and client matters to provide high quality legal services to clients in a timely manner at fees that are fair to the clients and their firms; 2) increase the productivity levels of all timekeepers within their practice groups; 3) increase the economic contribution of their practice groups to the firm to enhance revenue and profitability; and 4) assume primary responsibility for communications to and from members of their practices about firm economics, priorities and business issues, as well as practice growth and client development initiatives.
By Marcus Dyer
As law firms endeavor to survive in an increasingly competitive world, one strategy picking up steam is the law firm merger. In this article, we recap law firm merger activity in 2018 and consider the economic outlook for law firm mergers for 2019.
By Lawrence L. Bell
Planning for executive benefits for top hat employees at non-profit organizations has undergone a frenzy of regulatory roadmap changes. Nonprofit NonQualified Benefits are largely directed and controlled by IRC §457.
By Kevin Harris
Prebilling, the process of generating invoice drafts and circulating them for annotation/adjustment, is one of the most important monthly tasks a law firm conducts. Since prebilling involves bringing money into the firm, the more efficient the process becomes, the better off the law firm is financially.
By Stephen Cole
Information governance and the protection of corporate data are top concerns for law firms. To ensure standards are met, some clients are now tying payment to compliance with Outside Counsel Guidelines (OCG). OCG have moved from guidelines to actual contracts that provide for indemnification of the client for cyber breach and violation of privacy laws.