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When firms first recognize they need to change in order to be more competitive, it appears that they have a seemingly infinite array of options. Cost-cutting, increasing billable hours, starting a marketing program and hiring a rainmaker are usually at the top of the list, but it often seems as though everyone in the firm has their own solution to the problem. In reality, there are only a few key steps that are appropriate and necessary for most firms. The real problem is that execution of these tactics is a long-term effort, not a 1-year program. Mounting a sustained effort requires a change in the behavior of the members of the firm and therefore a change in the culture of the entire firm. However, there are forces at play in every firm that act to prevent these changes. This article discusses how the culture of a firm locks it into place and prevents it from changing. Solutions for moving past these issues are also identified.
Preserving a firm's culture is an overriding consideration of most law firms. This seems to be true no matter what the particular culture is: work hard vs. hardly work, quiet respect vs. public tantrums, egalitarian vs. hierarchical, easy-going Californians vs. hard-driving New Yorkers. This is true not only of law firms, but of all organizations. We tend to believe that our personal behavior and group culture are what have brought us whatever success we have had.
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.