Features
The Expanding Influence of Legal Operations: New Report Focuses on AI, CLM, and Law Department Transformation
Operations leaders are driving efficiencies, helping manage the growth of data, and harnessing the power of digital transformation to fuel business success while minimizing risk. They are also taking on greater roles and helping general counsel shape strategies that include embracing CLM, AI, and other tools to enhance the way their teams work.
Features
The Business Benefits of Leasing When Combatting the Increasing Costs of Operating a Firm
There's a wide range of business benefits to leasing that help firms better manage current market challenges beyond cash management — so we asked our law firm clients what they saw as the most compelling business benefits of leasing in today's challenging economy.
Features
Should Law Firms Make Pass-Through Entity Tax Elections?
As a result of the TCJA, the owners of pass-through entities are limited in the amount of state and local taxes they can deduct on their Federal income tax return. In response, over 25 states have enacted pass-through entity tax regimes, which allow the owners of law firms to preserve their state and local tax deduction on their income from the law firm.
Features
Big Law Leaders Grappling With Attorney Disengagement
Unlike burnout or "quiet quitting," which arguably stemmed from mostly short-term dynamics, observers point to a collision of current and long-term trends, such as post-pandemic work and generational shifts, that have led lawyers today to be less committed to or fulfilled in the profession as they were a decade ago.
Features
4 Pitfalls To Avoid In Legal Operations (and How to Deal With Them)
For legal stakeholders seeking to take their existing legal operations programs to the next level or start new programs from scratch, there are a few all-too-easy traps that can stunt growth, cost political capital and cause headaches. Having a strategic plan, budget and critical executive buy-in is not enough to avoid these four common issues.
Features
Four Legal Ops Traps That Can Stunt Growth
For legal stakeholders seeking to take their existing legal operations programs to the next level or start new programs from scratch, there are a few all-too-easy traps that can stunt growth, cost political capital and cause headaches. Having a strategic plan, budget and critical executive buy-in is not enough to avoid these four common issues.
Features
Using the Generational Gap To Enhance Engagement
In an era where the power dynamics in the legal industry are shifting decidedly to talent, a firm's ability to tap into generational differences to invigorate, attract and retain talent is a competitive advantage.
Features
Law Firms Saw Moderate Revenue Growth In Q1 Despite Challenging Demand Environment
Strong inventory levels at the end of 2022 helped the law firm industry post moderate average revenue growth during the first quarter of 2023, though the demand environment remains challenging for law firms.
Features
Why Law Firms and 3Ls Alike Should Consider Deferring
We can expect that soon some enlightened Big Law firms will level with their incoming associates (or at least the corporate ones) and explain that market conditions are such that the firm cannot assure them of the volume of work necessary for their normal growth and development and, accordingly, the firm is offering a stipend (and health insurance) to those who choose to defer for a year.
Features
3 Common Pitfalls Lawyers Face Without Legal Analytics
Without the right tools, even the most skilled lawyers can fall victim to common pitfalls that can cripple their performance and success. This article discusses three of these pitfalls and how legal analytics can help lawyers stay ahead of the competition and provide the best counsel to their clients.
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