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This article focuses on what a firm can do now that will improve future firm economics regardless of what the future may hold. It identifies three areas that offer the great opportunity for improving a law firms' economics and better positioning them for whatever the future may bring.
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The most popular justification for avoiding business-development activities is a lack of time. There are, however, a number of strategies that will allow you to execute and produce results in minutes — or even seconds.
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This article provides a general introduction to social media influencers and discusses common tax issues arising on the income side of the equation. What is taxable income? What happens if the influencer's compensation is paid in equity?
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Data is taking over our lives. And preceding that is all of the applications and technology that exists that helps us measure that information. But technology and data are not going to be the only growth drivers of a firm in the future. What's going to become most important in the face of the technological changes that are occurring in law firms is a lawyer's "soft-skills."
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An attorney's reputation may be one of the most important factors that clients consider before hiring counsel. In today's world of online reviews, managing your reputation can be challenging. How should you manage online reviews to ensure your reputation and trustworthiness are intact?
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The Fifth Circuit Court of Appeals recently issued a decision that explains some of the requirements for deducting litigation expenses. The facts of the case are bizarre, but the controlling legal principles are not.
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At the end of the day, a lot of noise is created in the effort to hear the voice of the client. We propose that while these efficiencies and innovations in law are valuable, the clients keep asking for something different: a lawyer who deeply understands their business and their specific issue — at the time they need it.
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<i><b>Ready, Set, Benchmark! </i></b><p>Underlying great client service is a strong understanding of the client's business and goals. There are many barriers to success when it comes to helping lawyers develop a strategic client mindset. So, how do you break down these barriers to create a Client Intelligent Law Firm?
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<b><i>Part Two of a Two-Part Article</b></i>
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The legal industry saw greater revenue growth during the first quarter of 2019 than it did to start the strong year of 2018. However, the drivers of that growth were much different, as the demand growth that characterized 2018 gave way to a demand decline during the first quarter of 2019, and much of the revenue growth came in the form of cash collections from 2018 inventory.