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Realization has hit an all-time low of 83%, plunging from 93% just a decade ago. Most firms are building pricing groups as the place to start addressing this pain. This is certainly a good starting point, but if your firm is pricing and not monitoring, you've actually got a problem.
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In its astonishing "Free the Law" project, Harvard has teamed up with a California start-up called Ravel Law to digitize every state, federal, territorial and tribal judicial decision since colonial times by feeding over 40 million pages physically cut from the books shelved in the Harvard Law Library into a high-speed digital scanner.
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A true partnership requires a compensation structure that rewards partner-like behavior — collegiality, mentoring, expansion and transition of client relationships to fellow partners, and a consensus to pursue long-term strategies promoting institutional stability rather than maximizing short-term profit metrics.
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Self-promotion makes many people uncomfortable and unsure. However, to really maximize your hard work as a lawyer, you need to let the world know about your successes — and nobody can do it all for you.
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In an era when demand for legal services is softening, the country's largest firms are increasingly going to court and arbitration against their former clients to collect fees in what consultants say is the "new normal."
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This article discusses the importance of accounting for digital assets in an estate plan, provides practical considerations for handling their disposition after death, and describes the current state of the law for the handling of digital assets after death.
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Firms place a lot of weight on lateral hiring, but many of them aren't very good at it.
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No one can deny that cyberattacks are the new norm. Such risks will increasingly challenge our ability to operate our businesses. In the world of cybercrime, everyone — from individuals to nation-states — is a target. However, some targets are more alluring than others.
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In the first public data security class action complaint against a U.S. law firm, Chicago-based Johnson & Bell was named in a lawsuit that says the firm failed to protect confidential client information.
The issues that I confronted a dozen years ago when I became a CMO for the first time are very much the same issues that my CMO brothers and sisters face today. Irrespective of whether you've had decades of experience or not, the job is tough. Well, the job is relatively easy, but ensuring that your team members get all the credit and your firm hits its success metrics, while maintaining your visibility and growing your perceived value, remains very much a challenge to even the most seasoned professionals.