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Revolutionizing Revenue: How 'Invoice to Cash' Innovation Rescues Firms from Billing Woes
In 2023, the collection cycles lengthened by 5% and, in fact, this was the second consecutive year firms have experienced this trend in collections (see, Citi Hildebrandt 2024 Client Advisory).
Should this trend be treated as a cause for alarm or a mere cost of doing business?
For most firms, it is the latter. In fact, the majority of firms (80%) and industry analysts (including Citi Hildebrandt Client Advisory and Thomson Reuters and Georgetown Law State of the Legal Market) find the business impact of lengthening collections cycles to be so significant that fixing this problem is uniformly cited as a top strategic priority for firms of all sizes in 2024.
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'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
How Secure Is the AI System Your Law Firm Is Using?
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
Compliance and Third-Party Risk Management
To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.