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Features

Understanding Your Clients' Changing Needs In a Post-Pandemic Legal Market Image

Understanding Your Clients' Changing Needs In a Post-Pandemic Legal Market

Marci Krufka Taylor

If it was challenging to get facetime with clients pre-pandemic, that challenge has only multiplied in the post-pandemic world. As firms look for creative ways to reconnect with clients, client interviews and surveys have become more important than ever for ensuring client satisfaction, loyalty and profitability.

Features

Process Automation: Increase Competitiveness By Going Paperless Image

Process Automation: Increase Competitiveness By Going Paperless

Adam Levithan & Laura Whitman

This last year has brought an ever-increasing pressure to be competitive and retain the margin that pays salaries and powers growth. One outlet to maintain and increase competitiveness is the reduction of paper processes and increasing the use of technology.

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How to Create a Law Firm Culture That Supports 'The Hustle' Image

How to Create a Law Firm Culture That Supports 'The Hustle'

Randi Rosenblatt

Whether they practice at global firms consisting of thousands of lawyers or decide to hang a shingle and put their name on the door, lawyers chose a path requiring continuous, never-ending hustle. Not only do they need to master the practice of law, they need to master the art of driving revenue.

Features

Despite Pandemic, Profits At Am Law 100 Firms Leapt to New Heights Image

Despite Pandemic, Profits At Am Law 100 Firms Leapt to New Heights

Brenda Sapino Jeffreys

The past year posed new and unusual challenges for U.S. law firms, rattled by economic uncertainty, remote work, stay-home orders and social distancing. Despite the turmoil, profits at the Am Law 100 leapt to new heights.

Features

Law Firms Need to Look At Partnership Behaviors to Manage Profitability Image

Law Firms Need to Look At Partnership Behaviors to Manage Profitability

Hugh A. Simons

In the decade ahead, the mechanism for offsetting the effects of external market forces on profitability will shift from changing partnership composition to transforming a partnership's behavioral norms, centering on how partners behave toward each other and help each other become the best possible version of their professional selves.

Features

How Do Business Development Efforts In High-Performing Law Firms Differ? Image

How Do Business Development Efforts In High-Performing Law Firms Differ?

Meghan Frank

As firms and their clients continue to navigate ongoing business challenges in 2021, BD and marketing professionals first need to understand how mature their efforts are in specific areas. Then, they can look at what the successful firms are doing differently, so they can position themselves to join those ranks.

Features

Utilizing Accountability Partners to Build Business Image

Utilizing Accountability Partners to Build Business

Randi Rosenblatt

Attorneys can utilize accountability partners to fuel the advances one truly wants to make in their efforts to build books of business.

Features

Firms Adding Financial Analysts to Calculate Profitability Image

Firms Adding Financial Analysts to Calculate Profitability

Andrew Maloney

Law firms are increasingly adding new staff members and software to calculate their profitability, helping firms determine partner compensation and make other business decisions.

Features

Late Year Collections Could Make or Break 2020 Profitability Image

Late Year Collections Could Make or Break 2020 Profitability

Lizzy McLellan

Success in 2020 is likely to come down to who your clients are. If they were hit hard by the pandemic that will trickle down to their vendors, including law firms. But for others, the top line could come out nearly unscathed.

Features

It's 2025: What Did We Do to Successfully Shift Law Firm Operations? Image

It's 2025: What Did We Do to Successfully Shift Law Firm Operations?

Rob Mattern

A Look Back from the Future If we look back at 2020 five years from now, what will we point to as the key actions that brought law firms back, and which of those are still in play.

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    “Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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