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Law firm management should ensure that partners and senior associates (potential partners) understand the basic concepts pertaining to partners' capital accounts.
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The expectations of today's clients cannot be met by the trappings of traditional law practices. Considering the way clients now expect and demand that their lawyers engage with them, using project management is a perfect way to support the process.
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This article focuses on the specific areas of law firm partnership agreements that require an accountant's input and expertise.
2013 - BUSINESS DEVELOPMENT IS RARELY SIMPLE OR EASY Growth in a free market is there to be gained. Firms can always find ways to use growth as a powerful marketing asset. But for firms that finally recognize the need to pursue legal business development, two questions need to be asked: First, how can your firm exploit the current marketplace? And second, what long term strategic and pragmatic business development lessons can you learn, firm size…
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For legal professionals, the only real choice remains Apple's iPad. The wide selection of legal-specific apps for the iPad cannot be matched by competing Android tablets. Whether intended or not, Apple is winning that market. However, with success comes responsibility, and when it comes to lawyers, accountability, security and saving time is extremely important when serving clients. Here are my "best-practice" recommendations and tips to make the most effective and safest use of iPads for lawyers.
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Bring-Your-Own-Device (BYOD) programs, which allow employees to use their personally owned smartphones, tablets and laptops in and out of the work environment, are significantly changing information technology (IT). Law firms around the country are embracing BYOD as it lets executives and employees use the mobile devices, service providers and operating platforms of their choice.
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The BYOD movement sprang up from employees' desire to have and use their own choice of a smartphone and to be able to better mix their business and work lives. Yet, this modern-day nod to the 19th Century company town has its dark sides.
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A significantly higher number of law department budgets experienced reductions in 2012 than in the three years prior, so the pressure on outside counsel is likely to increase rather than abate. But are law firms listening?
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Why do law firms assume that one of their most important marketing communications tools can simply be designed and developed in a few short months? Effective websites take foresight and strategy, says the author.
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This article provides an overview of the Summary of Benefits & Coverage (SBC) disclosure and employer-shared responsibility mandate implemented under the Affordable Care Act. Information on SBC compliance and your firm's exposure to the shared-responsibility rules follows.