Features

Jump-Starting Business Development After Living in a Socially Distant World
How do we go back to conducting productive business without seeming callous to the harsh realities many people are experiencing?
Features

Demand for Contract Lawyers Is Rising from COVID-19 Business Disruptions
Recruiters say the demand for contract attorneys in corporate and government legal departments and law firms is rising as the ongoing COVID-19 pandemic creates more of certain types of legal work.
Features

Small Law, Big Changes: The Coming Disruption in the Legal Industry
The billable hour is still profitable from a transactional perspective, but from a strategic perspective, in today's economy, that profitability has begun to erode. That's because our economy has fundamentally transformed into a service economy that is based on leverage and scale.
Features

COVID-19 Downturn Likely Won't Impact Health of Law Firm Billable Hour
Not even the economic downturn imposed by the COVID-19 virus may be able to take credit for eliminating the billable hour. While attorneys could be relying more on legal tech to help defray costs, transitioning to a new pricing infrastructure in the midst of so much uncertainty could prove to be a bridge too far.
Features

2019 Was a Record Year for the Am Law 100 But What Will 2020 Hold?
After a 5% increase in gross revenue and 3% growth in revenue per lawyer, the Am Law 100 were in a good place at the start of 2020. Then a global pandemic started. Now what?
Features

Adopting COVID-19 Cuts, Law Firms Balance Image and Economics
Firms Are Applying Communications Lessons from the Great Recession As They Deliver Bad News During the Coronavirus Pandemic. Many firms have appeared in recent weeks to be signaling compassion, embracing (relative) transparency and sharing sacrifices across lawyers and staff. That can help make even painful cuts less harmful for a firm's internal morale and outside reputation.
Features

Pension Plans Changes: Will Retiring Partners Shoulder the Risk?
For some firms in the Great Recession, reduced revenues combined with the overwhelming pressure from multimillion-dollar pension liabilities — a holdover from the days when pensions were simply a promise firms made to retiring partners — were too much to bear. But with the Great Recession now a decade in the past and another recession brewing, has the industry learned from its mistakes?
Features

How a Law Firm's Comp System Affects Profitability and Partner Satisfaction
Compensation systems are typically a strategic afterthought, seen as the means by which to allocate the spoils of a successful strategy. They're viewed as affecting the level of grousing among partners, but not a firm's performance. The data, however, indicates the reverse is true.
Features

COVID-19: As Coronavirus Ravages the Economy, Bankruptcy Attorneys Prepare for the Flood
Law firms have always counted on bankruptcy as a countercyclical practice in hard times. Now, those that prepared when the economy was booming may be about to get their reward.
Features

How to Survive (and Even Thrive) During and After the COVID-19 Lockdown
The ability to adapt, be nimble and pivot as necessary is crucial to surviving and thriving in ever-changing economic climates. Communicating in the age of social distancing requires a new way of thinking and being — not just in the virtual workplace with our peers but also how we communicate and partner with our clients.
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