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Client Attrition: More Tools to Stem the Trickle of Lost Work
One of the best ways to hone a firm's business strategy is to dig deeper into the assumptions relied upon to devise that firm's business strategy. At the Redwood Think Tank, we reported not too long ago that law firms, on average, lose work from existing clients at the rate of 1% per month. See 'Client Attrition Analytics: Firms Can Control Whether Clients Stay or Go,' Accounting and Financial Planning for Law Firms, January 2007. We based our estimate on a study of four firms that experienced remarkably similar rates of attrition.
Since then, we were asked whether our estimate would hold up if we studied a larger number of firms. We also wondered whether some firms experience lower rates of attrition, and if so, why.
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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.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
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CLE Shouldn't Be the Only Mandatory Training for Attorneys
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