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<b><i>Delaware Bankruptcy Court Protects Communications with Financial Professionals Originating In Delaware</b></i><p>Because state law applies at the time the transaction is negotiated, the parties might assume — reasonably so — that state privilege law will govern communications with their attorneys and financial professionals. But what happens if, years later, a fraudulent transfer plaintiff files suit in federal court and brings claims under federal law? Does state privilege law still apply?
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The government's seizure of attorney-client communications, a headline event when it involves the President's lawyer Michael Cohen, actually is a recurrent problem in white collar criminal investigations due to the convergence of several trends.
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There were elements of the corporate culture in the early Dot-com years that helped shape my perspective on the critical role marketing could (and should) play in driving tangible and bottom-line business results. Those shaping influences, when applied to law firms, can help us legal marketers realize even greater returns for our internal and external clients.
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Cash flow management can be particularly challenging. You need to account for the time lag between cash going out and cash coming in. This requires financial and management discipline, strong internal policies and procedures for billing and collection policies, planning and attention to detail.
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If you listen to the marketplace, you will know what to do in connection with client growth and client retention. Are firms listening to this advice?
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Despite all the strategic planning CMOs may devote to individual attorney coaching and training, it is often not enough to support the lawyer client in connecting the dots of relationship building, reputation enhancing and contact management over the course of a career to make a remarkable difference.
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Growing the top line requires a systematic approach that maximizes your available time and focuses you on the best opportunities.
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<b><i>Law Firms Should Double Down on Their Existing Clients By Focusing on Client Satisfaction and Retention Rates Rather Than Billable Hours and Origination Credits</b></i><p>New client acquisition can cost 15 times more than retaining an existing client, and yet most lawyers spend their limited and valuable time chasing new clients.
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Most of the time, delayed payments are a result of actions by the law firms themselves. Let's take a look at 11 factors impacting the collection of attorney fees on a timely basis and how to avoid these mistakes.
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The increasing competition in the legal industry highlights the importance of differentiation and adding value beyond the work product. Face-to-face interactions with clients are a critical component in differentiation because they provide the opportunity to understand better the nuances of clients' businesses, develop deeper relationships, and drive productive collaboration.