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We found 2,025 results for "Accounting and Financial Planning for Law Firms"...

The Am Law 100: ‘Flexible’ Compensation Systems Lead to Strong Performance
April 30, 2025
Big Law firms have stepped into a whole different world of partner compensation in the last year, by stretching their spreads, increasing bonus pools, moving to “black box” systems, adding nonequity tiers, and implementing “super” points, among other changes.
Gen AI Unlikely to Bring Down Law Firm Rates
April 30, 2025
Clients may hold out hope that the adoption of generative AI tools will bring down the rates they pay outside counsel, but a recent survey suggests they shouldn’t hold their breath.
Create An Operations Blueprint for Efficiency and Profitability In 2025
March 31, 2025
Simply put, the old levers of profitability — billable hours and rate increases — are no longer sufficient. Firms that fail to proactively address inefficiencies risk losing market share to more agile competitors. To remain competitive, law firms must rethink traditional business models and optimize operations at every level.
The Rise and Rise of Hospitality In Law Firms
March 31, 2025
The demand for client-facing hospitality experiences has intensified. Law firms are incorporating more client-centric services, such as personalized spaces for client meetings, high-end catering, and concierge-style offerings during in-person visits.
District Court Affirms Bankruptcy Court Conversion of Subchapter V Case to Chapter 7
March 31, 2025
The U.S. District Court for the Southern District of New York affirmed a decision by the U.S. Bankruptcy Court for the Southern District of New York converting a debtor’s Subchapter V case to a Chapter 7 case. In particular, the district court found that the bankruptcy court’s decision to convert was not an abuse of discretion, especially in light of the serious conflicts of interest that existed between the debtor and the potential target of significant fraudulent transfer claims held by the debtor’s estate.
Soft Touch Prospecting Strategies for Lawyers
March 31, 2025
The law is a complex field. Everyone does not do the same thing. You still need to bring in new clients. What are some “soft touch” strategies that might be more comfortable?
Incoming Law Firm Leaders Are Not Prepared for Industry’s Transformative Period
March 31, 2025
Incoming law firm leaders are not prepared — and the stakes have never been higher. As we enter one of the most transformative periods in the legal industry, marked by an uptick in the influence and power of talent, expanding adoption of AI, major political upheaval and the much-anticipated official entrance of a Big 4 accounting firm into the legal space, the importance and impact of strategic decision-making in the upper echelon of firms has never been greater.
Strategies for Promoting Lateral Hires
March 31, 2025
Firms believe they only get one chance to call attention to lateral partner hires. How the initial splash is handled with clients, as well as internal and external communications, is certainly extremely important. However, maximizing lateral hire announcements should really be viewed as a critical kick-off to the overall timeline and success of lateral integration over the first year and beyond.
CRM As a Growth Strategy: Turning Data and AI Into Business Development Success
March 01, 2025
For years, customer relationship management (CRM) in law firms has often been viewed as a glorified Rolodex — a necessary but often underutilized system primarily seen as a data repository. However, as firms seek to drive business development, client engagement and revenue growth, CRM needs to evolve into a strategic growth platform.
AI for Legal Professionals
March 01, 2025
Mastering AI tools is vital for law firms striving to remain competitive. The increasing demand for prompt and effective services means firms that do not adapt may fall behind.

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  • Delaware Chancery Court Takes Fresh Look At Zone of Insolvency
    Over a decade ago, a Delaware Chancery Court's footnote in <i>Credit Lyonnais Bank Nederland, N.V. v. Pathe Communications</i>, 1991 WL 277613 (Del. Ch. 1991), established the "zone of insolvency" as something to be feared by directors and officers and served as a catalyst for countless creditor lawsuits. Claims by creditors committee and trustees against directors and officers for breach of fiduciary duties owed to creditors have since become commonplace. But in a decision that may have equally great repercussion both in the Boardroom and in bankruptcy cases, the Delaware Chancery Court has revisited zone-of-insolvency case law and limited this ever-expanding legal theory.
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  • The Right to Associate in the Defense
    The "right to associate" permits the insurer to work with the insured to investigate, defend, or settle a claim. Such partnerships protect the insurer and can prove beneficial to the insured's underlying case and ultimate exposure.
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