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Contracts Law Firm Financials Law Firm Management

Improving Firm Profitability Through Contracts

The best and most effective way to drive firm profitability is through influencing partner behavior. The best way to incent the partners is by linking their compensation clearly and directly to the achievement of the firm’s business strategy.


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I often use the term “Silly Season” to describe the last three months of the law firm calendar year. I first heard the term from J.J. McCann, the managing partner of the now long-gone Donovan Leisure Newton & Irvine firm. Mr. McCann coined the phrase for that period of the year when the partners in his (and most other major law firms) began to pay attention to the need to collect long overdue invoices and call clients to discuss significant fee overruns on matters that remained undiscussed and unbilled.

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