<i>At the Intersection:</i> Cutting Corners
November 30, 2014
If one purpose of a column or blog is to provoke spirited debate, we surely succeeded in our recent posts on whether client-driven pressures for greater efficiency and cost-control compel outside counsel to "cut corners" in legal service delivery. Passionate and pointed comments filled our e-mail inboxes.
Linking Business Development to Partner Compensation
November 30, 2014
In recent years, as client fee pressure has increased and client loyalty has decreased, law firms are investing significant time and money in business development programs. Some partners receive training to dust off selling skills that were largely unnecessary during a time of plenty. Other partners receive training, then individualized coaching, then more training, then more coaching, in an often-futile attempt to turn everyone into a capable rainmaker.
On the Move
November 02, 2014
Who's going where; who's doing what.
Continued Industry Growth Expected Through Year' s End
November 02, 2014
The Equipment Leasing & Finance Foundation has released its Q4 update to the 2014 Equipment Leasing & Finance U.S. Economic Outlook, which forecasts investment in equipment and software to grow 5.5% in 2014. This is revised up from the Q3 update forecast of 2.6% growth issued in July.
Measuring Firm Quality with Client Value Initiatives
November 02, 2014
When it comes to competitive pricing, both clients and law firms are more and more focused on quality. That sounds good, but how can quality best be represented in actual metrics? While quality is a degree of excellence, what makes that degree marketable enough so that customers can swiftly leverage metric "facts" as a guide in the counsel selection process? Furthermore, how can these quality metrics be leveraged to delineate themselves from one another? The goal should be to highlight experience as an actual quality success metric rather than just attractive pricing.
Practice Management Takes Hold in Smaller and Mid-Size Firms
November 02, 2014
Even though lawyer management in most mid-size firms recognize the importance of developing and implementing principles of practice management as a means to insure the high quality service to clients and to improve profitability, the extent to which practice management may be implemented varies greatly from firm to firm.
Case Notes
November 02, 2014
A look at a case in which an ex-employee failed in his bid for Sills Cummins' financials.
Changing the Law Firm Business Model
November 02, 2014
If a law firm wants to conform to a client's need for responsiveness in the new competitive environment, big changes are required in its business model and, culturally, lawyers need to recognize that other professionals are better at certain tasks than lawyers.
Transfer Taxes
November 02, 2014
Last month, we wanted to know the tax consequences to a hypothetical couple of their proposed agreement that husband transfer his interest in a townhouse to wife prior to their execution of a separation agreement, and that wife transfer her membership interest in the company to husbandprior to execution of such agreement. The discussion concludes herein.
