Features
By Dan Felz, Wim Nauwelaerts, Paul Greaves
&
Josh Fox
Part One of a Two-Part Article
Corporate legal departments are increasingly receiving requests from business clients to use ChatGPT or similar AI-powered tools in their operations. These requests can be urgent, with business clients demanding enablement from legal. This article is in two parts: Part One briefly details what "generative AI" tools like ChatGPT are and provides an overview of key legal considerations, including by looking forward to upcoming AI-specific legislation in the EU and the U.S.
Features
By Mark Masson, Ed Estrada
&
Jay Russell
While the practice leaders, partners and lawyers in a practice know their clients best, they focus most of their time and energy on being legal experts. This is where practice, operations, and firm-level leadership need to provide focus, process and resources to help their legal experts deliver their unique value to clients.
Features
Cassandre Coyer
&
Justin Henry
While the law firm model has historically rewarded inefficiencies, recent trends show that model is reaching its expiration date.
Features
Mike Henderson, Whitney Jones,
&
Bill Pitcairn
Uncertain and challenging markets are times when firms and organizations of all types conserve cash. If this can be achieved without cutting needed projects, equipment or services to ensure successful returns to the office, then this is clearly an ideal financial strategy. In fact, leasing and financing not only helps firms conserve cash, but when done right, helps firms also maximize their IT budgets.
Features
Mike Henderson, Whitney Jones,
&
Bill Pitcairn
Shifting large IT purchases over to a predictable monthly expense is a pricing model that has taken over most industries with the introduction of cloud services, and this can be a particularly useful model during challenging markets.
Features
Ari Kaplan
In the uncertain economy that is characterizing the first quarter of the year, there remains a significant emphasis on demonstrating value to secure new resources.
Features
Jason Noble
Looking forward, firms appear to be counting on rate increases to maintain profitability, but there are signs that clients are likely to be more resistant to further rate hikes as payments slow down and realization was in decline at the end of 2022.
Features
J. Mark Santiago
Future partners will be identified, developed, and elected from the associate ranks, so they truly represent the future of the firm. Reducing the number of associates from which to choose future partners is a risky undertaking.
Features
Mike Henderson, Whitney Jones,
&
Bill Pitcairn
Uncertain and challenging markets are times when firms and organizations of all types conserve cash. If this can be achieved without cutting needed projects, equipment or services to ensure successful returns to the office, then this is clearly an ideal financial strategy.
Features
Andrew Maloney
Rate increases across the legal industry haven't been as big as the conventional wisdom implies, and clients have more room to negotiate than they probably realize.
