Law Firm Financials

Given the Obstacles Law Firms Are Facing, Profitability Shouldn't Be Increasing

Rising competition from alternative service providers and the ever-forward march of technology adoption should be having a similar, negative, effect on profitability. This raises an obvious question — how are law firms doing it?

Outsourcing is supposed to be the new wave of the future that will fundamentally change the way that law firms provide services to their clients and partners. But is this so?

Aggressive Poaching In the Market Is Forcing Leadership to Contend With the Delicate Balance of Equality, Culture and Compensation In their Firms

Many leaders are no longer focused just on business development but are also trying to figure out how to continue making money and structure their firms in a way that allows them to spend the requisite money to pay top talent.

Phil Jelsma, a partner and chair of the tax practice team at a San Diego-based commercial real estate law firm talks about the changes to carried interest, how this will impact commercial real estate investment and what investors should do now to comply.

A survey of more than 160 law firm executives (from medium to large firms) found that law firms are among some of the highest spenders on security yet were susceptible to some of the most common risks. And the issue will grow over the coming years as the demands of the business drive the adoption of emerging technologies, such as cloud and Artificial Intelligence (AI).

A survey of more than 160 law firm executives (from medium to large firms) found that law firms are among some of the highest spenders on security yet were susceptible to some of the most common risks. And the issue will grow over the coming years as the demands of the business drive the adoption of emerging technologies, such as cloud and Artificial Intelligence (AI).

Strong Hands-on Leadership is Crucial in Today's Competitive Practice Environment

A financially and professionally successful law firm does not simply evolve. It must be built in an orderly and systematic manner. The values important to a firm have to be identified, defined, organized and centrally placed. The responsibility for achieving these goals must be keyed to an organizational factor. Whether this is a committee or an individual, ultimately someone must be responsible.

Back in March of this year, we predicted changes and trends the results of the 2018 Mattern Cost Recovery Survey would reveal. At that time, we got our…