Some Law Firm Leaders See Rosy 2018 Ahead
When it comes to law firm business, not everyone is depressed about the slow growth that plagued many firms in 2017, and that's predicted to persist into the new year. Or at least they won't admit it.
Five Ways to Eliminate the Need for a Corporate Monitor
Government-imposed corporate monitors — once a rare occurrence in the U.S. — are now commonplace, not only with domestic regulators, but also with regulatory agencies in various other countries, in connection with enforcement proceedings and prosecutions for criminal offenses such as anti-corruption violations and other misconduct.
Controlling Costs in Worker's Comp
<b><i>The Rolling Stones Were Wrong — Time Isn't on Your Side</b></i><p>Almost every business owner loathes worker's compensation insurance — costs are high and can go up significantly in the event of a claim or multiple claims. Also, worker's comp can be a cost center that is heavily impacted by fraud and abuse. If employers can control the number and severity of claims and lower worker's comp costs, they can put the money to better use.
The Uber Breach and the Need for an Independent Privacy Function
Uber has incurred significant legal and reputational exposure as a result of the way that the company handled the breach. In the coming months, there will be a great deal of information and regulatory and judicial action that will act as guidance, or more precisely, a checklist of what-not-to-do, for companies that suffer a data breach.
How Blockchain Technology Can Drive the Legal Industry Forward
A new legal structure that bestows and monitors trust must be employed. Is decentralization of traditional, gigantic central bank repositories of data the answer? Is blockchain technology the new path that the legal industry should take to sustain in the digital age? Let us consider the most significant implications of decentralized technologies to the legal industry.
<i>Legal Tech:</i>Looking Ahead: 2018 Legal Technology Predictions
At law firms and legal departments, preparing for the new year should mean looking back at the last year and prioritizing revenue-driving activities, identifying strategies to grow your firm or company while mitigating risk and budgeting for new projects to meet client demands.
Examine KPIs on a Micro-Level to Boost Law Firm Profitability
You say your law firm is profitable. How do you know? To fully understand your law firm's results of operations and financial condition, you should measure and examine key performance indicators (KPIs) on a granular level. Looking beyond high-level KPIs can provide actionable information to make operational and strategic decisions.
2017 Roundup: Equity vs. Non-Equity Membership
<b><i>Last Year Saw a Number of Interesting Decisions Concerning the Identity, Rights and Obligations of Non-Equity Owners, Including Partners and Shareholders</b></i><p>2017 saw a number of interesting decisions concerning the identity, rights and obligations of non-equity owners, including partners and shareholders. As more firms utilize non-equity members to play vital roles within their firms, it will become more important for them to take note of these decisions and the guidance they provide.
Surviving the Retail Shift
<b><i>Looking Ahead: Lessons Learned.</i></b><p><i><b>Part Five of a Five-Part Series.</i></b><p>As Mark Twain quipped, "The reports of my death are greatly exaggerated." So too is the reported retail "apocalypse" and "death" of the shopping center. In fact, U.S. retailers opened 1,326 more locations in 2017 than they closed. When restaurants are added to the mix, there were a total of 4,080 new openings in 2017 and another 5,050 openings planned this year.
Do Mergers Increase Profitability?
<b><i>The Numbers Say Yes, But Not for the Reasons Many May Think</b></i><p>Conventional wisdom has it that mergers enhance profitability through increased revenues and reduced costs. However, the numbers contradict this view: post-merger revenues are lower relative to competitor firms than are the sum of the predecessor firms' revenues, and costs per lawyer increase markedly.
