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Law firms are increasingly looking for ways to meet client expectations while also maintaining profitability themselves. When I started out as an M&A associate over 20 years ago, meeting client and business demands was all about billing over 3,000 hours a year, leaving little room for a single day off despite the firm’s “unlimited” vacation policy. But the game has changed substantially for law firms today — the evolution of the legal business model is underway and artificial intelligence (AI) is playing a big role in calling time on the billable hour.
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Is Your Firm Prepared for the ‘Silver Tsunami’?
By J. Mark Santiago
A Silver Tsunami of aging partners is threatening the legal profession. There’s a way to higher ground.
What In-House Counsel Need from Outside Counsel As Pandemic Landscape Shifts
By Jennifer Simpson Carr
The global COVID-19 pandemic forced lawyers — individuals whose relationships formerly depended upon firm handshakes and looking their clients directly in the eye — to build client trust through a tiny camera lens. Here's a Q&A with GCs to discuss what matters most to their companies when hiring outside counsel.
Five Critical Elements of Business Development Success
By Aaron Y. Strauss
While acquiring the skills necessary to develop business is certainly a life-long journey, here are five critical elements to consider from the outset.
Building Successful Partnerships Requires Collaboration
By DeWitt A. Sullivan
Partnerships are relationships, ideally relationships built on trust and a common goal. Successful partnerships require all parties working together — working together to service a client fully, generate revenue and to build a business. This requires openness and coordination.
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