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Measuring Practice Group Profitability
A number of surveys today compare the profitability of one law firm against another. Unfortunately, the reporting is often flawed due to a number of factors, from self-reporting to comparing the profitability of apples to oranges, e.g., comparing a litigation practice firm with a real estate practice firm. While such broad survey reporting may be suspect, that is not to say that measuring your own firm's profitability by practice group should be off the table. If done properly, it can provide important input when deciding where dollars should be invested and where your current operating model can be improved.
With the profitability analysis computer software available today, a firm's profitability can be measured by department, by practice group or even by lawyer. This article focuses on the profitability of practice groups. The software does not do everything, but it can generate relevant data for management planning. The key is to avoid distortions caused by temporary circumstances. Accordingly, any profit analysis by practice group should be done over at least three accounting periods. In addition to leveling out extraordinary factors that might affect a particular year, it highlights important trend lines for each group.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
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.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
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.