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Five Keys to Successfully Transitioning Clients Across Generations
Client relationship succession planning is a top concern among law firm leaders. Citibank's 2019 Client Advisory devoted a section to this topic. Firms of all stripes frequently develop goals in their strategic plans to facilitate more effective client relationship transitions. However, according to the results of an insightful survey by the Attorneys' Liability Assurance Society (ALAS) released to its member firms last year, there is room for many firms to take a more formal and proactive approach to effectively transition client relationships across generations.
This yields an increasingly important opportunity in the current competitive landscape in which many clients are using fewer and fewer firms over time. Over the past 10 years, legal departments have decreased rather than increased their spending on outside counsel. Many high-performing firms are successfully growing the size of their client relationships of strategic importance, increasingly serving them across the firm's platform. And consistent with that trend, 60% of GCs say they send nearly all of their work to their top 10 firms, according to a 2018 CounselLink survey.
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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.