Finding a Chief Strategy Officer
September 02, 2014
Just as chief marketing and business development officers came to the fore following the recession, "chief strategy officers" are making their way to the managing partner's cabinet.
Quick Tips for Rankings Success
September 02, 2014
Being singled out by one of the research-based legal rankings or directories can be a big client booster, whether it's a practice area or individual lawyers that are recognized. Here's how to achieve those rankings.
Law Firm Clients Defeat Bankruptcy Trustees in New York Court of Appeals
September 02, 2014
The New York Court of Appeals, in response to questions certified by the U.S. Court of Appeals for the Second Circuit, recently held that "pending hourly fee matters are not [a dissolved law firm's] 'property' or 'unfinished business'" under New York's Partnership Law.
Unfinished Business Claims
September 02, 2014
This two-part article describes recent developments with respect to unfinished business claims, discusses the implications that those cases may have on law firm partnerships, and provides some suggestions as to what law firms may do to avoid unfinished business claim litigation.
Changing the Law Firm Business Model
September 02, 2014
Lawyers must understand the process by which they deliver a legal solution. That means they understand every task in the process and who should be performing those tasks, whether it is a partner, an associate, a paralegal, or another professional.
Keep It Under Control
September 02, 2014
Client questions about litigation management are always the same: How likely are we to win? How long will it take? How much will it cost? The answers vary from case to case, but metrics exist to answer the questions and to enhance litigation management.
Using IRA Funds to Purchase Life Insurance
September 02, 2014
Many individuals desire to acquire insurance on their lives using funds held in a qualified retirement plan. The acquisition of insurance using funds within an IRA is beneficial since the Plan uses tax deductible dollars to acquire the insurance. Furthermore, the Plan Funds are not otherwise being directly used by qualified plan participant (Participant) for the Participant.
At the Intersection: Plugging Profitability Leaks
August 02, 2014
We've long known that vague, incomplete or misunderstood instructions from partners to associates is a prime source of profitability leaks ' revenue lost because of all the time spent on reinventing the wheel. We've also long known that an amazingly simple delegation improvement technique can help reduce write-downs of time by up to 18%.
Law 2023: A Look Ahead
August 02, 2014
The future of the legal industry isn't what it used to be. Or so says a recent report issued by Law2023.org, a group of industry insiders ' including the author' who spent a year studying the trajectory of the legal marketplace.
Valuation of a Law Firm and a Law Practice
August 02, 2014
Lawyers leaving a law practice have an economic interest in monetizing their career-long investment in building a client portfolio and a referral network. How each lawyer has accomplished this depends on his or her particular practice, market and style. But while the means may vary, the results are the same ' access to clients who have legal needs. And this is the value the acquirers wish to capture.
