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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 Steve Irons
A Permanent Change to How Your Firm Operates
Law firms need a best practice Digital Mailroom operation, not the current scan-to-email workaround, which was a triage solution at the onset of the COVID-19 crisis. Attorneys and staff working from home must have reliable, secure delivery of daily mail which is arriving at the main office.
By Chase D’Agostino and Andy Banquer
What is the right strategic approach for a legal department to optimize its return on investment for the resources it deploys to render legal services?
By Edward J. Sadowski
NJ Senate Bill 3246 established the “business alternative income tax” (BAIT), an elective business tax regime for pass-through entities. Law firms are left wondering if electing to pay the BAIT is the right choice. This article summarizes how the NJ BAIT works, as well as its pros and cons.
By Valerie Pennacchio
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?