We found 2,062 results for "Accounting and Financial Planning for Law Firms"...
Sales and Service Strategies
January 31, 2007
Lawyers know that business development is a must. Too many of them, however, approach it as random acts of golf and lunch. There's nothing wrong with that in theory. Clients purchase legal services from people they like, and golf and lunch are fine marketing activities, very conducive to relationship building. The problem, though, is with the word 'random.' The top rainmakers do nothing randomly. They have identified those persons they want to know better and, from there, they develop a systematic plan to go about building and enhancing relationships with them. As I emphasize to my clients, the key word is <i>plan</i>.
The Not-So-Simple Employee Disclipline Matter
January 31, 2007
In the new age of the whistleblower, an employment lawyer who one day advises on a routine employee discipline or discharge may the next day find him- or herself directing a multi-disciplinary investigation of alleged corporate malfeasance, guiding a team of forensic accountants, private investigators, and public relations experts.
You Thought You Had a Radius Clause: Wells Fargo v. Diamond Point Plaza May Change Your Mind
January 31, 2007
A landlord secures an anchor tenant with a big-name, stable, and successful chain store. The landlord negotiates that a percentage of this successful tenant's gross sales out of the landlord's location will constitute a portion of the rental payments. In order to protect his percentage rent, the landlord ensures that the lease contains a provision that (it thought) would forbid the tenant from opening another store in close proximity to the landlord's property. Therefore, the landlord has sufficiently guaranteed not only a base rental payment, but also a portion of the tenant's success, and it is confident the tenant will be very successful in the area. The landlord is thrilled, right? Maybe not. New case law indicates that courts may interpret the landlord's lease provision protecting against a new store, a radius clause, in a manner different from the way the landlord had intended.
Compliance with Non-U.S. Environmental Health and Safety Regulations
January 31, 2007
Most U.S.-based companies have fairly sophisticated environmental, health and safety ('EHS') programs that are designed to ensure compliance with applicable EHS rules and regulations. The reasons for such programs are obvious: EHS compliance represents the floor for most, if not all companies, and non-compliant companies are likely to experience adverse financial, environmental, health and safety impacts as a result of non-compliance.
DMS Matter-Centric Architecture Update: One Year Later
January 26, 2007
Modern Document Management Systems (DMS) provide ways of creating structures for organizing content that go beyond old-fashioned 'folders.' 'WorkSpaces' can contain folders (static containers for content) and stored searches (dynamic, predefined ways of finding current content that meets specific search criteria) organized under 'Tabs.' Security and metadata (document-specific profile information) can be assigned to different levels of the structure, and lower levels can be set to 'inherit' higher-level security and metadata values.<br>In a law firm environment, it is natural, considering the way matters are handled and taking into account important business processes (including new matter opening procedures and records management requirements), that each matter be allocated a WorkSpace ' leading to the 'Matter-Centric' architectural paradigm.
The Bleeding Edge of Change: Getting Control of Client Files
January 26, 2007
Lawyers are not necessarily known for being cutting-edge adopters of technology, particularly those in small- to medium-sized firms. In fact, it's more of a bleeding edge, as lawyers in all size firms are being painfully thrust into using sophisticated technology solutions to manage cases along with all the attendant print and electronic records. A comprehensive and reliable enterprise-wide electronic records management system is critical for tracking, storing and retrieving client files to reduce ethical, malpractice and compliance risks for law firms.
More from the Best of MLF 2006
December 28, 2006
In last month's issue, we covered the best of MLF from February to and including June 2006. In this issue, we will take a look back at July through November.
Offshore Outsourcing: Protecting Privacy A World Away
December 28, 2006
Business process outsourcing (BPO) to offshore service providers has become an integral part of the global economy ' and integrally 'e' ' finding particular success in the financial services, health care and IT industries.<br>Studies confirm that offshore BPO will not only continue to grow, but accelerate in the years to come. One study projects that by 2010, the world's 100 largest financial institutions will move $400 billion of their cost base offshore, saving an average of just under $1.5 billion annually each. <br>This explosive trend will continue to create economic, political, cultural and legal challenges for all types of companies dealing with personal data and the regulations that cover the collection, movement, storage and accessing of it ' in the United States and abroad. And, given the popularity of financial services and health care BPO, privacy concerns are certain to figure largely in these challenges. This article provides an overview of some of the legal and practical implications of BPO to offshore vendors.
Special Issue: The 'Hottest Issues' Get Hotter; The Bayou Hedge Funds Fraud
December 27, 2006
Investor confidence and market behavior can be impacted greatly by events that do not necessarily correlate. In the case of the Bayou Hedge Funds fraud, these unique and non-recurring events fueled a fire in the hedge fund industry that has spread, but not necessarily due to the particulars of the Bayou Hedge Funds failure. But, when dealing with significant investments made by pension funds, corporate entities, along with foundations and trusts, a healthy dose of skepticism is natural and appropriate. Not unlike the transition from the Enron scandal to the formation of the Public Company Accounting Oversight Board, hedge fund investors may extrapolate the troubles at the Bayou Hedge Funds to all hedge funds. As a result, questions of the need for regulatory oversight for a stronger accountability within the industry arise.
The Growth of Litigation: A Global Trend
December 26, 2006
For the past three years, our law firm, Fulbright & Jaworski LLP, has conducted its Litigation Trends Survey, based on responses from senior-level in-house lawyers at companies in a variety of industries and at various revenue levels. In the first year, we surveyed only United States companies. Last year, we expanded our survey to encompass companies in the United Kingdom as well. This year's edition of the Litigation Trends Survey ' in recognition of the increasing globalization of the world economy and our own firm's rapid international expansion ' drew on responses from companies around the world. The survey results generally confirmed what prompted us to expand the scope of the Survey to begin with ' that companies are increasingly operating more globally and therefore face greater and more frequent challenges in protecting their interests in areas far from home.
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