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Client Maximization: Doing Well by Doing the Right Things
Making the most of your firm's client base need not be a costly undertaking. There are several steps a firm of any size can undertake to improve client experiences, while also ultimately increasing the firm's chances of thriving.
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Competitive Intelligence: Helping Your Client Know Their Client
We hear more and more that exceptional client service and in-depth knowledge of the clients' business and industry are the differentiators in keeping current clients and winning new ones. Value far outweighs cost when it comes to long-term client relationships, bet-the-company work and ongoing client success.
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How Law Firms Are Overcoming New Business Development Challenges
With the intense competition for new legal work, demands on lawyers' available time and the increasing discounts clients demand, it's getting harder for law firms operating under a billable-hour business model to support the consistent development of new legal work by investing in and maintaining a marketing department alone.
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Linking Content into the Client Journey: Why Content Experience Matters
One of the most effective components of legal marketing is thought leadership content. With today's available palette of media tools, law firms are able to design, build and customize the content that their client's experience like never before. Ensuring that this "content experience" is profound and impactful is a necessary and critical endeavor.
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Increasing Client Requirements: Securing Law Firms for the 21st Century
Clients expect sophisticated and secure systems to keep their information safe. This obviously makes your IT professional's job much harder. Additionally, attorneys expect instant performance and near 100% up time. Achieving the delicate balance between accessibility and security is a challenge.
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Professional Development: Proactive Marketing for the Win
I Tend to Think of Marketing and Business Development Efforts In Four Buckets: Passive Marketing, Active Marketing, Reactive Marketing and Proactive Marketing The view of (most) law firm leadership has evolved, but there is a long expanse of ground between viewing the marketing function as a cost center and recognizing — and capitalizing on — its potential to drive revenue and profits.
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Effectively Managing Increasing Client Security Requirements
Gone are the days of naively assuming our confidential data is secure. Increasingly, clients, stakeholders, regulators and others are demanding proof that firms are actively protecting the PII to which they have access, and this evidence is being demanded both before and after security incidents. It is imperative law firms have the positions and processes in place to handle security incidents with urgency, accuracy and completeness.
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Professional Development: Reimagining Business Development Training and Coaching
Six Pillars of a Successful Bus-Dev Program For firms wanting to thrive through the next economic downturn and beyond, mastery of business development fundamentals is as essential as mastering legal skills. Yet training and coaching — whether done internally or through outside consultants — requires an investment in time and resources.
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Competitive Intelligence: Assumptions and CI Don't Mix
Sometimes I assume my clients know what I can do for them and what they should ask for. You all have heard the old adage about what happens when you assume. I still laugh when I think of my elementary teacher saying it, but It's such a basic idea, and applies in so many situations. Here are just a few of which I've been reminded.
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Resolving Fee Disputes: It's in Your Best Interest, Too
Lawyers should know that they ignore clients with questions at their peril. The first thing to remember is the client is entitled to an accounting of the fee and costs. No matter how exasperating the client, or how stupid the question appears to be, client questions need to be resolved.
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- Private Equity Valuation: A Significant DecisionInsiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.Read More ›
- The DOJ's Corporate Enforcement Policy: One Year LaterThe DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.Read More ›
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- Protecting Innovation in the Cyber World from Patent TrollsWith trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.Read More ›