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A close look at the standards for determining what documents a lawyer may take upon departing a law firm reveals a startlingly unclear and tangled area of legal ethics and law that should give any careful lawyer real pause.
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Over the past three years of tough times, many law firms have put up with "jerks" in their partnership ranks in order to hold on to the portfolios of work controlled by those people. But there are ramifications to this decision ...
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This article focuses on employee benefits decisions and the flexibility of your firm with respect to direct hires of non-partner and non-associate attorneys.
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Although many firms operate in corporate, LLC or even LLP form in order to protect partners individually from liabilities, their partners may be surprised to learn that they may be personally liable if the firm fails to fulfill its obligations associated with employee compensation and benefits payable by the firm.
MYTH # 2 - Attorneys should step in to the business development process only after the marketing department develops a strategy. Ultimately, the onus is upon the attorneys to bring in (and keep) the business. The role of law firm marketing should support these goals with collateral materials, public relations activities, social media and identifying seminars and workshops that help facilitate network development. Once you have the information and sales training, plan a strategy to pursue the…
Here's a little secret about professional services marketing. It always comes down to selling the individual clients ' one by one. And it doesn't matter if your firm is the largest or the smallest.
MYTH #1: BUSINESS DEVELOPMENT AND LAW FIRM MARKETING ARE INTERCHANGEABLE TERMS Law firm marketing is about being found, not chosen. How you get found is through publicity, media outreach, networking, collateral materials, conducting and attending workshops. These tactics are the eyes, ears and interests of your potential client. But first you have to locate the target -- that's business development. Perhaps a more appropriate term for business development is "business generation," which requires (dare I write it)…
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On Feb. 13, 2012, the Internal Revenue Service issued Revenue Procedure 2012-17, which in part provides that partnerships may furnish their partners with an electronic copy of their Schedule K-1 if the partner has affirmatively consented to receive the K-1 in electronic format, such as in pdf form in an e-mail.
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Firms are increasingly using alternative fee structures to meet clients' demands for billing based on the perceived value they have received. This article discusses the reasons why, regardless of your firm's method of billing clients, it is still critical to track attorney billable and non-billable hours.
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This article provides for the legal marketing professional a guide to the basics of law firm economics, and includes sample metrics and ideas as to how to improve the contributions of the marketing department to the bottom line of your law firm.