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Industry watchers say law firms have become less reliant on bank debt over the past decade, as they explore other funding options. Often, that means raising capital from partners, or turning to other, less common sources.
A recent examination of major law firm failures showed how expansion and revenue gains can sometimes mask the struggles of law firms saddled by massive debt. Eventually, the debt load becomes too heavy, choking off growth and hastening collapse. (see, “Warning Signs: How Big Law’s Greatest Failures Unfolded,” The American Lawyer (Oct. 29, 2019).
By Debra Gray
Clients expect sophisticated and secure systems to keep their information safe. This obviously makes your IT professional’s job much harder. Additionally, attorneys expect instant performance and near 100% up time. Achieving the delicate balance between accessibility and security is a challenge.
By Dylan Jackson
Baby boomers control an outsize portion of law firm business. As they inch toward retirement, how are firms preparing for the transition process?
By Debra Baker
Six Pillars of a Successful Bus-Dev Program
For firms wanting to thrive through the next economic downturn and beyond, mastery of business development fundamentals is as essential as mastering legal skills. Yet training and coaching — whether done internally or through outside consultants — requires an investment in time and resources.
By Gretta Rusanow
There is a lot of good news in the nine-month 2019 industry results. While we might not end the year with the strong growth levels seen in 2018, we anticipate that 2019 will be a decent year. For the first time this year, revenue growth exceeded expense growth.