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The onus is on law firm leaders to balance risk and opportunity. How can firms guide through an increasingly perilous landscape rife with opposing hazards to start building the law firm of the future today?
Features
That the pace of change is "accelerating" is surely an understatement. What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from "office optional," to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.
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This article maps out a system that would enable law firm management to implement a meaningful pay-for-performance system that drives positive associate performance and enhances the firm's culture.
Features
Law firms have traditionally been large consumers of contract labor for a variety of purposes. These workers are traditionally classified as independent contractors, issued a 1099 and treated as ineligible for employee benefits. In recent years, many states have started to adopt the "ABC" test to determine whether a worker should be classified as an independent contractor or an employee.
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Some large law firms are doubling down on billing discipline, as Big Law clients take longer to make payments and the legal industry continues to see demand declines.
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A new report emphasizes the connection between legal technology and law firm success, the importance of training to ensure technology adoption, the influence of automation and document management on digital transformation, and how law firms are deploying data to create a competitive advantage.
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Automate Onboarding & Offboarding Processes for Smoother Transitions Questions about the role of AI in the legal market continue to dominate current headlines, but firm consolidation remains a big part of the transformation the industry is undergoing. And yes, technology and automation are playing key parts in this. As firms merge or acquire others to expand their capabilities and client base, a streamlined approach to attorney onboarding and offboarding has become essential.
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In Polselli v. Internal Revenue Service, the U.S. Supreme Court unanimously refused to limit the IRS's ability to issue summonses without notice to situations in which it seeks records of accounts in which a delinquent taxpayer has an interest. This article discusses the court's decision, Justice Jackson's concurring opinion, and the potential for future challenges to the IRS's issuance of summonses without notice.
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The economy, technology, and practice preferences continue to influence a reconfiguration of the corporate legal department in a post-pandemic period.
Features
There's a wide range of business benefits to leasing that help firms better manage current market challenges beyond cash management — so we asked our law firm clients what they saw as the most compelling business benefits of leasing in today's challenging economy.