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Ranking Law Firms by Economic Performance: Divergent Views
In the decades since Fortune magazine's landmark ranking of the nation's wealthiest corporations (during the Great Depression, of all times), the passion for ranking in our business and general cultures has grown to what can well be described as an obsession. Almost 20 years ago, law firms were finally drawn into economic ranking ' or rather, reportedly, were dragged into it kicking and screaming ' by the AmLaw listings, published by American Lawyer Media, the parent corporation of this newsletter.
A&FP readers should be able to guide their firms in how to contribute and use ranking data fairly and wisely. To that end, the following article excerpts and A&FP author commentaries assess the challenges of law firm ranking on several levels:
- The specific problems of using “profits per equity partner” as a key measure
- The pitfalls of relying on manipulable metrics in a competitive environment
- The general difficulty of ranking by any single metric or formula
- The challenge of dealing with clients and potential lateral hires who may interpret rankings uncritically
' Joe Danowsky, Editor-in-Chief
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.