Features

Expense Right-Sizing In a Challenging Economy
What strategies can law firms take to rein in expenses during a challenging, down market to avoid further layoffs? Look no further than the firm's back-office operations. This article presents a brief overview of five areas where your firm can not just "cut costs" but actually improve operations while doing so — this is expense "right-sizing."
Features

Billing Rates Have Increased, But Not Enough to Beat Inflation
Law firm billing rates have increased across all law positions in 2022, but not necessarily enough to keep pace with inflation. That's according to news reports that point to some more challenges for law firm profits.
Features

The Four Legal Sales Strategies
The 'best choice' provider pitch may not be the optimal sales strategy. It's better to adjust to where the prospect is in their buying decision process — whether that means they are looking for providers, they are studying the situation, they already have counsel, or they have decided not to address the issue.
Features

How Will the Am Law 200 Use Their 2021 Profits?
While nobody seems to think that the current inflationary period constitutes the new normal for the Am Law 200, the sustained demand has helped firms smooth out some of the challenges that will become sharper when there isn't as much legal work to go around.
Features

Rising Expenses and M&A Slowdown Could Sink Profit Growth This Year
Stifling expenses and a slowdown in transactional work during the first quarter could sink profit growth for the rest of the year, according to a new analysis of legal industry performance.
Features

Law Firm Profits Soared In 2021, Despite Increased Expenses
Strong demand growth led to a war for talent, but it was also a major driver of the industry average double-digit revenue growth seen in 2021.
Features

Are Lawyers Packing More Billables Into Less Time?
Are lawyers working harder than ever? Recent figures in the legal industry show only a slight increase last year in the number of average hours billed per lawyer. Yet analysts and firm leaders say the total amount of hours worked — not just billed — is likely higher,
Features

Sales Speak: Selling Doesn't Cause Buying
Selling doesn't cause buying. Buying is an internal business process and that process is fast becoming out of sync with the sales training we often push on our lawyers. Our buyers know more than we do about what is really important inside companies when they are looking to hire outside counsel. We must get better at that lest many of our practices become even more commoditized.
Features

Rate Hikes Threatening Trusted Status with Clients
After years of clients working to trim their roster of firms to a trusted group that understands the specific challenges of their businesses, rate hikes are threatening to upset these delicate relationships.
Features

How Should Law Firms Use Their Windfall of Profits?
After many firms experienced a highly profitable 2020 and sky-high demand levels in 2021, they found themselves with more cash than usual. While more than enough Big Law money has been lavished on associates and laterals recently, those aren't the only ways firms are spending their riches.
Need Help?
- Prefer an IP authenticated environment? Request a transition or call 800-756-8993.
- Need other assistance? email Customer Service or call 1-877-256-2472.
MOST POPULAR STORIES
- Artist Challenges Copyright Office Refusal to Register Award-Winning AI-Assisted WorkCopyright law has long struggled to keep pace with advances in technology, and the debate around the copyrightability of AI-assisted works is no exception. At issue is the human authorship requirement: the principle that a work must have a human author to be eligible for copyright protection. While the Copyright Office has previously cited this "bedrock requirement of copyright" to reject registrations, recent decisions have focused on the role of human authorship in the context of AI.Read More ›
- Strategy vs. Tactics: Two Sides of a Difficult CoinWith each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.Read More ›
- Sender Beware: Jurisdictional Risks of Pre-Litigation CommunicationsThe Federal Circuit recently clarified — and lowered — the threshold to exercise specific personal jurisdiction over an out of state declaratory judgment defendant.Read More ›
- Beach Boys Songs Written Decades Ago Triggered Current Quarrel With LawyersThere's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.Read More ›
- Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of LicenseeMission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."Read More ›