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Many leaders are no longer focused just on business development but are also trying to figure out how to continue making money and structure their firms in a way that allows them to spend the requisite money to pay top talent.
Law firm leadership has plenty to keep them up at night: technology gobbling up the bottom of the leverage pyramid, flat market demand, tectonic cultural shifts, ever-expanding skill set demands and more. Traditionally, I’ve found that developing new business and generating client loyalty is top-of-mind in strategy sessions, but more and more I am hearing that there is a new specter that looms largest for many and in particular the “elites”: the gain/loss of major rainmakers. See Figure 1, below.
By Joel A. Rose
An Astute Lawyer-Manager Must Achieve the Appropriate Balance of Building Consensus Among the Partners
Applying management techniques to practice areas may introduce to the firm a new take on methods for enhancing profitability.
By Ari Kaplan
As the volume of litigation continues to grow and the ability to manage it as a defendant or add to it as a plaintiff grows increasingly complex, legal costs will continue to rise in 2019 — and funding advocacy on both sides will remain a lingering challenge.
By Lawrence L. Bell
When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.
By Ishan Girdhar
The Big 4 accounting firms have identified legal services as an area for growth beyond traditional financial services and consulting services.