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Law firms once dreamed of owning separate businesses to bring in new streams of revenue, and while some achieved that goal, the industry is now largely backing away from a strategy that provided little economic benefit.
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Videos are popping up increasingly on firm Web sites, but at least one analyst warns that law firms might be paying too much for too little.
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If gratitude is measured in dollars, office managing partners ('OMPs') are a bit taken for granted. In an informal Recorder survey of San Francisco Bay Area office managing partners, 70% say they work more than when they practiced law exclusively. But only 22% say they are earning more than before they took the post.
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To manage today's younger-generations lawyers effectively, law firm and law department managers must relate to them as individuals, validate their self-interest, and communicate with them candidly and realistically.
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This article provides pointers as to how to hire the best consultant for your firm's job and how to ensure the work product you desire.
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When two law firms undertake merger discussions, they eventually exchange financial information. Here, we have compiled a short list of do's and don'ts to combat avoidable problems related to merger financials.
WHAT DID NOT WORK III. This is the third in a series of comments on why in-house counsel rejected law firm business development efforts. In a recent discussion with a group of outside attorneys, they pointed to the following: 1. Make sure your team members talk to the client, not to themselves. Prospective clients want to see how you work together in responding to their questions and deal with strategic issues. Don't be talking "under your breath"'
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While this year's rankings were not heavily weighted on advertising and visual communications, I would be remiss if I didn't highlight two firms that did use visual communications to effect image and change. Herein, Thompson & Knight LLP, and K&L Gates.
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The harms that can result from computer security breaches are largely uncovered by the types of insurance policies most law firms maintain, and that makes those firms subject to unnecessary risk for theft of client data. Combined with the inadequate security most law firms provide for client data anyway, the resulting exposure risk may well violate legal professional ethics.
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Virtual data rooms ('VDRs') offer legal and financial professionals an array of advantages. Overall, VDRs make it possible for lawyers and other deal advisers to focus more on the substantive work to be done and less on procedural aspects of deal management.