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The Practice Group: A Firm Management Tool Or an Anchor?
The popularity of the practice group ' an entity within a firm comprised of those who practice a specific area of law or serve a specific industry ' is well grounded, in that it opens a number of advantages to managing a practice and better serving clients. But so complex and management sensitive are practice groups that they open, as well, the easy propensity to misuse the practice group concept in a classic case of poor management canceling the value of a good concept.
The business environment faced by lawyers today is very different from that of just a decade ago. The practice of law is changing rapidly before our eyes, and increased competition calls for stronger and more imaginative competitive measures. Other factors responsible for this new environment comprise a long list that includes globalization, new regulation, increased client sophistication, competition, and substantial technical advances. The practice group, and its ability to focus on the singular needs of an area of legal practice served by specific practices and client groups is, therefore, an effective contributor to a firm's ability to compete and function in this decade and beyond. It's both a tool and a weapon for effective firm management. It changes the traditional concept of firm and practice management, for the good of the firm and its clients. If properly managed, it's both a tool and a weapon for firm management on many levels. And ultimately it offers the firm greater transparency of all of the firm's practices.
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Bankruptcy Sales: Finding a Diamond In the Rough
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.
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
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.