For almost a year, lawyers from eight of the largest corporations in the country have been meeting and exchanging information. The group, which first came together last fall, includes in-house attorneys from Cisco Systems Inc., E.I. du Pont de Nemours and Co., FMC Technologies Inc., General Motors Corp. and Microsoft Corp. Together they oversee a collective annual legal budget exceeding $1 billion.
In part one of this two-part series [see the June 2005 A&FP edition], we discussed the pathways available for law firm administrative staff with finance and accounting competence to evolve into consulting roles within the legal services industry. Part two focuses on avenues available for individuals with strong skills in these functional areas to advance within their own or other firms.
Statistical reports play an important role in management decisions, so it pays to hone your skills for spotting inaccuracies and distortions. Some flaws are so subtle that even professional statisticians debate their presence, but many errors are easy enough to detect if you just look for them.
This article describes some outright errors along with some suspect practices that often lead to error. After examining a few graph-drawing fiascos, the article examines ranking distortions and other problems that can result from either excess precision, ill-chosen scales, or a disconcerting quirk called Simpson's Paradox. Finally, the article discusses a common survey methodology error that leads not only to slanted results but also to the reporting of nonexistent trends.
For 20 years, The American Lawyer has measured the economics of law firms, first with The Am Law 50 and 75, more recently with The Am Law 200. Throughout, we've kept to the same metrics: gross, revenue per lawyer, profits per partner, and the Am Law Profitability Index (API). These lists helped inform and change the profession. (Note that we didn't say ruin.) We published them again this month with one significant addition that we think reflects the changed nature of the business of law: Value Per Lawyer (VPL).
Information technology has become an invaluable business tool around the world. With it, business ' the traditional kind and those that operate over wires (and wirelessly) ' including law firms are able to increase efficiency and lower costs. After all, information technology is the gateway to one of the e-commerce sector's most important assets: Information.
But what happens when information cannot be trusted? When it is vulnerable and exposed to Internet threats? When information is secure, it is trustworthy; anything less than that, and it simply loses its value.
Recent developments of note in the Internet industry. This month:
Google Sued Over 'Click Fraud' in Web Ads
Tech Firms Call for Approval of Cybercrime Treaty
Commission Proposes Single Online Rights System
Don't you hate it when you ask someone a question and, rather than answering it, they choose to answer a different one? Then you understand the frustration…
Tax officials, state lawmakers and industry representatives agreed last month to establish an 18-state network for collecting taxes on Internet sales, a compact they hope will encourage online retailers and Congress to endorse a mandatory national program.
The blight of spyware has struck tens of millions of computer users across the globe. In fact, according to a recent nationwide survey conducted by the Pew Internet & American Life Project, 91% of Internet users have changed their online behavior for fear of becoming victims.
Recent rulings of importance to you and your practice.
