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At the beginning of the 19th century, there was an historical event that was the catalyst for developing what has become one of the most commonly used business strategies. The building and expansion of the railroad system forced corporations to have to raise capital to an extent they never had to before. Previously, these large projects were funded by the government. Now with corporations having to have significant capital outlay, the creation of depreciation came into existence and along with it more robust reporting structures. This has evolved from the beginning with real estate, to equipment and then to the application to intellectual property in the 20th century. The use of depreciation and amortization is so second nature that we don’t even think about when it didn’t exist. IRC §1250 and §1245 have been codified to cover depreciation and amortization.
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The Great Unbundling: Do Law Firms Need to Re-think Outsourcing Strategies?
By Anthony Davies
Service “‘bundling” provides economies of scale, lower overheads, a single point of contact and a single invoice at the end of each month. However, the bundling of services to create a single multi-service provider may now be hurting firms who are increasingly looking for specialization, especially with regards to onsite workplace experience services.
What’s the Difference Between a ‘Customer’ and a ‘Client’?
By Jaimie B. Field
a customer is someone who buys something from you once, while a client is someone who keeps coming back to you over and over again. And that subtle difference is what makes a lawyer just a lawyer and one who becomes a rainmaker.
Are Large Firm Rates Pushing Clients to Seek Other Alternatives?
By Andrew Maloney
Firms have been especially deliberate during the pandemic to increase the number of touch points they have with existing business, deepening ties with their roster of current clients by referring matters across practices and rewarding partners for that kind of origination. But with marketing spend surging and clients increasingly willing to move work around, Big Law firms’ incumbent advantage could begin to wane.
Top Law Firms Look to Invest Profits In Future Success
By Dan Packel
There’s no doubt that much of the legal industry’s profit gains are simply the result of surging demand. But smart firms were also able to harness booming demand to push through rate increases, owing to clients who were desperate to see their deals go through. There’s no doubt that the firms taking advantage of this confluence are in an enviable position. That doesn’t mean they are sitting on their laurels.
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