Traditional law firm models have long relied on profitability strategies anchored around several key levers, including annual rate increases, improved discount management and collections, and expense management. While these are necessary and important, they are subject to the law of diminishing returns as most firms with good execution capabilities can easily replicate these tactics.
Many firms reporting record profitability may simultaneously face declining strategic relevance.
Traditional law firm models have long relied on profitability strategies anchored around several key levers, including annual rate increases, improved discount management and collections, and expense management.
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The Copyright Royalty Board (CRB), which works under the umbrella of the Librarian of Congress, sets statutory-license royalty terms and rates. The U.S. Courts of Appeals for the D.C. Circuit recently issued two notable decisions about the CRB.
As quantum machines become more powerful, today’s uncrackable encryption schemes may become trivial to break. Opinions vary as to how soon that moment, so-called “Q Day,” will arrive, but the threat is real.
How do you communicate when you know the harm before you know its cause? For law firms, it comes up both when advising a client and when explaining an incident of their own.
The gap between what a firm bills and what it collects is not a collections failure. It is a design flaw in how the whole revenue cycle is wired, and clients armed with AI are now exploiting it faster than firms can respond.
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