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Given the shifting economy and related uncertainty in the legal community, my research may help leaders with their strategy and decision-making. From Aug. 14, 2019 through Sept. 11, 2019, I had the privilege of personally interviewing 32 lawyers from Finland, France, Hong Kong, Norway, Singapore, the UK and the U.S. about the evolution of legal finance. 16 worked in-house and 16 were senior attorneys in law firms. A year before, in August of 2018, I interviewed 20 in-house lawyers at Fortune 500 companies and 18 law firm lawyers from Australia, the Cayman Islands, France, Germany, Hong Kong, Italy, Singapore, Sweden, the UK, and the U.S. about emerging trends in legal finance. Below are some of my findings and what they indicate about the current state of the sector.
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By Rob Mattern
A Look Back from the Future
If we look back at 2020 five years from now, what will we point to as the key actions that brought law firms back, and which of those are still in play.
By J. Mark Santiago
We are now into the sixth month of the COVID-19 pandemic and law firms across the country are entering the critical last quarter of the year. Historically, law firms collect between 30% and 50% of their annual revenues in the final 90 days of the calendar year. This year will be more challenging than prior years for a number of reasons.
By Lawrence L. Bell
The COVID 19/Pandemic/Shutdown has caused turmoil and upended benefit planning.
By Dan Packel
Economists are increasingly gravitating to the concept of a “K-shaped” recovery following the steep plunge of the early days of the coronavirus crisis. With a slight tweak, that “K” may well serve as a useful depiction of law firm profitability in 2020: just add a horizontal third line at the center.