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The Cultural Calculus of Competitive Advantage
Strategic planning is a firm's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and human assets. It is the formal consideration of a firm's future course. All strategic planning deals with at least one of three key questions:
- What do we do?
- For whom do we do it?
- How can we do more of it?
For most firms, the answer to this third question results in the decision to grow the firm geographically, through the development of niche practice areas, through industry focus, through practice specialization or through some combination of the above. Strategic options typically fall within two choices: Buy it or build it. Grow inorganically or grow organically. The emphasis in many firms is weighted toward buying growth (inorganic growth) through laterals, acquisitions and mergers, primarily because this growth path is quicker, more manageable and returns on the investment easier to substantiate.
Inorganic growth strategies accept the premise that clients benefit from a law firm's faster-than-market growth and bigger-than-average size, and in many respects they do. But in numerous ways, clients do not benefit from an expanding and increasingly complex law firm. In fact, one could argue that a lack of attention to organic growth initiatives in firms is at the heart of the disconnect many in-house counsel feel for their outside law firms.
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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
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 So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
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?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
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.