Leasing Can Make Your Information Security Processes Bullet Proof
April 01, 2016
Security issues are cited repeatedly as the number one concern for law firms and most recently topped all other current trends. This year, firms are estimated to spend more than $6.9 million or 1.92% of their gross annual revenues on information security.
The Coming Tsunami in the Legal Profession
April 01, 2016
There have been four waves of change over the last 50 years. We are now entering the fifth wave and this one will be a tsunami. The lawyers who do not recognize the trends will not be able to enter a new era and survive. The fifth wave will turn partnership leverage, compensation systems and the business model upside down. There is not much time to make the incremental changes that will support sustained profitability in law firms.
The Power of the Business Plan
April 01, 2016
A powerful business plan can change your life, especially if you are in a moment of transition with your practice. Any lawyer who wants to have his or her own clients ' or more of their own clients ' should outline their plan to obtain that goal. Arguably, the most critical juncture is when you are looking at other firms in hopes of making a lateral move, but there are no bad times to put together an action plan for expanding your practice.
Sexual Harassment in the Legal Profession: It's Time to Make It Stop
April 01, 2016
In 1992, the American Bar Association called upon members of the legal profession to provide leadership and education in eradicating sexual harassment. According to the 1992 ABA report, "[l]awyers play a special role in educating society about sexual harassment and eliminating it from the workplace.
Leading the Law Department: Hire the Best
April 01, 2016
For the inside counsel revolution to succeed, the General Counsel must follow a basic dictum: Hire the best. The key to the legal function's credibility with the CEO and senior line executives is to seek broad-gauged lawyers who are outstanding technical experts, wise counselors and effective leaders to occupy the top specialists jobs in the company and to be general counsel in the main operating divisions.
When a Law Firm Partner Divorces
April 01, 2016
Going through a divorce can be tumultuous for everyone involved. When one of the parties is a partner in a law firm, those challenges are sometimes elevated for both the partner and the law firm.
Entity Selection for Attorneys
February 29, 2016
One of the most significant early decisions attorneys make when deciding to hang out a shingle is what type of entity would be best for their practice. Choosing the right entity is a must. The right legal structure can save taxes, minimize legal exposure and avert costly business hassles. But is the right choice for yesterday still the right one for today?
Cost Recovery in 2016
February 29, 2016
2016 is in full swing and we will soon be conducting the 2016 Mattern & Associates Cost Recovery Survey. We've been conducting this bi-annual survey since 2004 and, during that time, it has become an industry resource for tracking the cost recovery practices of law firms across size and geography.