How to Approach a Law Firm Merger/Acquisition
November 30, 2014
Many law firms ' of all sizes and types ' believe that their future organizational and financial security is linked to growth and/or diversification. They are seeking the lateral addition of experienced lawyers through the acquisition and merger of practices. These firms are seeking to anticipate trends of their clients and in legal practice.
New Fee Models for the New Economy
November 30, 2014
To remain competitive in the new economy, both inside and outside leasing counsel are exploring and utilizing various alternative fee arrangements (AFAs). This article explores the use of AFAs by leasing counsel, and offers some insight into how they may be more effectively utilized.
Law Firm Security Pressures Alleviated with Financial Strategies
November 30, 2014
We know the consumer-industry stories of hackers infiltrating Target and, more recently, Home Depot. "Here's the thing about breaking into a multi-billion-dollar company and stealing the credit card information of millions of customers: It's just not that hard." -- Mashable.com
<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.
