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With overall law firm billing rates rising fast, firms that increased their rates more slowly are reaping rewards in the form of greater revenue growth, according to a new study.
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Mentorship is a key element of associate engagement and retention. While most law firms have formal and informal mentoring programs, not all firms give explicit instructions on how to be a good mentor to junior attorneys. Here are some tips that can prepare you to be a great mentor to the associates at your firm.
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<b><i>Warning from the SEC</b></i><p>In two recent orders, the U.S. Securities and Exchange Commission (SEC) signaled that it is paying particular attention to attempts by companies to prevent former employees from whistleblowing through restrictive covenants contained in severance agreements.
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High profile cyberattacks and data breaches have become routine occurrences. Cyber threats are so pervasive that many privacy and security experts advise that responsible parties ' like fiduciaries of employee benefit plans ' should prepare for <i>when</i> a data breach occurs, not </i>if</i>. Plan sponsors and fiduciaries should be aware of, and address, security and privacy issues in connection with personal information.
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With 70% of law firms outsourcing a portion of their back office and 45% considering outsourcing some middle office functions, it is clear that outsourcing is on the rise in law firms. This is because, when executed correctly, it can be an excellent management tool to increase service levels, broaden talent and manage costs.
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On June 30, securities litigator James Benedict, 66, walked out of his office at Milbank, Tweed, Hadley & McCloy for the last time as a partner and caught a plane to Vail, Colorado, to begin the next chapter of his life.
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Since the dawn of the new millennium, technology has been expanding the reach and ability of criminals at breakneck speeds. Regulators have constantly found themselves running behind a new era of cyberthreats and dangers, struggling to respond to accidents while fortifying the road ahead.
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Analyzing data and providing the right kind of data is critically important to every aspect of legal activities. When you're expecting data to act as a secret weapon in the sales process, the courtroom, or to provide a strong foundation for your firm, the quality of your information is priceless. To uphold your firm's integrity and ensure its success, it's time to get your staffers off Google and arm them with data intelligence.
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With all of society's technological advancements, it is a bit shocking that there has only been ONE technology ever developed to sniff out lies. The polygraph, invented in 1921, has barely advanced since.
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When lawyers and marketers think about losing clients, they think primarily of being displaced by another law firm or, these days, by technology, in-sourcing, or an alternative service provider ' or even having the relationship partner take the client with her to another firm. But what if that big client was no longer buying from anyone?