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Law Firms Happy to Trade Falling Realization Rates for Strong Rate Increases
Compared to law firms' advertised rack rates, collections in Big Law continued to slump in 2023, according to reports from Am Law 200 firms that disclosed last year's realization rates to The American Lawyer this spring.
In a group of 86 Am Law 200 firms, those within the Am Law 50 saw an average realization decline of 2% in 2023. Smaller firms fared better: The Am Law 51-100 had realization fall by an average of 1.6%, while the average decline was 1.3% for the Second Hundred. Meanwhile, realization at midsize firms remained flat.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.