Richest Firms Pulled Ahead in 2016 as Some Regions Struggled
February 01, 2017
The top performing law firms continued to pull away from the rest of the Am Law 200 last year, according to a report released on January 23 by Wells Fargo Private Bank's Legal Specialty Group. Meanwhile certain regions, including the mid-Atlantic states, struggled to achieve even modest revenue growth.
The Possible Consequences of Pursuing Outstanding Legal Fees
February 01, 2017
The attorney-client relationship is not one that always ends well. The client is able to discharge the attorney at any time, but outstanding legal fees must be addressed. If the client either ignores the correspondence or refuses to pay the fees, the attorney may determine to commence an action seeking the legal fees. What follows is a long, unhappy, expensive experience for each party.
Is Your Data Breach Response Plan Good Enough? Stress Test It
January 01, 2017
As the chances of a data breach incident increase, savvy businesses have invested time and thought in a response plan. But plans never survive first contact with the enemy. Stress test your incident response plan to find and resolve its weaknesses while time is on your side.
Mastering the Art of Self-Promotion
January 01, 2017
Hard work alone will not propel your career forward to its highest possible level; you are going to need to be savvy at the art of self-promotion. This includes going outside of your firm to get new clients and letting those inside your firm know about your accomplishments to propel you up the corporate ladder.
The Power of Monitoring for Recovering Lost Revenue
January 01, 2017
Realization has hit an all-time low of 83%, plunging from 93% just a decade ago. Most firms are building pricing groups as the place to start addressing this pain. This is certainly a good starting point, but if your firm is pricing and not monitoring, you've actually got a problem.
True Partnerships Reward Partner-Like Behavior
January 01, 2017
A true partnership requires a compensation structure that rewards partner-like behavior — collegiality, mentoring, expansion and transition of client relationships to fellow partners, and a consensus to pursue long-term strategies promoting institutional stability rather than maximizing short-term profit metrics.
Elite Law Firms Increasingly Suing Clients to Collect Fees
January 01, 2017
In an era when demand for legal services is softening, the country's largest firms are increasingly going to court and arbitration against their former clients to collect fees in what consultants say is the "new normal."
Estate Planning for the Digital Afterlife
January 01, 2017
This article discusses the importance of accounting for digital assets in an estate plan, provides practical considerations for handling their disposition after death, and describes the current state of the law for the handling of digital assets after death.
