Determining Who Should Serve As the Billing Partner
November 01, 2019
Due to a law firm's team-oriented approach to business development and client service efforts, it is not always clear who should logically and most efficiently serve as the billing partner for a client or a particular client matter. A person should only be a billing partner if he or she is or will be performing the functions outline herein.
D&O Policy 'Bankruptcy Exclusion' Held To Be an Unenforceable 'Ipso Facto' Clause
November 01, 2019
The new decision is significant because lawsuits against former (and current) officers and directors of debtors commonly are brought, as here, by trusts established under plans of reorganization. Because insurance policies often are the only viable source of recovery for the claims asserted in such lawsuits, this decision potentially opens a pathway to creditor recovery in other similar matters.
Preparing the Next Generation of Lawyer Leaders
November 01, 2019
A new crop of leaders is gearing up to take the helm. Like their brethren before them, they have little in the way of formal experience or training for the roles they are about to inherit.
The Global 100 Are in the Midst of a Growth Spurt
November 01, 2019
The World's Largest Firms Turned In a Second Straight Year of Robust Revenue Gains Amid Near-Universal Progress
Mergers, rapid growth among Chinese law firms, and a healthy American market coalesced to turn 2018 into a spectacular year for the world's largest law firms.
Resolving Fee Disputes: It's in Your Best Interest, Too
November 01, 2019
Lawyers should know that they ignore clients with questions at their peril. The first thing to remember is the client is entitled to an accounting of the fee and costs. No matter how exasperating the client, or how stupid the question appears to be, client questions need to be resolved.
The 'Silly Season'
October 01, 2019
That term refers to the months of October through December. It's a way of pointing out to partners that the necessary activities of practice management that so many of them had avoided for the first nine or 10 months of the year now had to be addressed. Clients that had not been billed now had to be invoiced. Outstanding invoices, many issued in the cold days of early March and April, now had to be collected and current work would not only have to be billed but collected as well.
What Is Your Dashboard Report Telling You? Chances Are, Not Much.
October 01, 2019
Firms are struggling to capture compelling business intelligence about themselves. Until recently, most operated with a cadre of legacy operating systems, financial platforms and reporting technologies from different manufacturers that have no mechanism for connecting with each other. The disparate nature of these technologies has exacerbated the struggle to leverage data and display results in a reporting mechanism that helps direct the firm's decision-making.
Producing Breakthroughs in Client Development
October 01, 2019
It is easy to understand why many lawyers feel that only certain special individuals are blessed with the qualities necessary to be rainmakers. But almost anyone willing to develop the qualities necessary can become a rainmaker.
