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We found 2,025 results for "Accounting and Financial Planning for Law Firms"...

AI and the Billable Hour
January 01, 2025
While there has been a slow pivot toward alternative fee arrangements in the last decade, many firms still cling to the tenet of the billable hour, even as artificial intelligence reimagines its contours.
Navigating AI Risks: Best Practices for Compliance
December 31, 2024
The most forward-thinking companies embrace AI with complete confidence because they have created governance programs that serve as guardrails for this incredible new technology. Effective governance ensures AI consistently aligns with an organization’s best interests, safeguarding against potential risks while unlocking its full potential.
Live Streaming Accelerates Business Growth
December 10, 2024
Live streaming has evolved significantly and is a widespread phenomenon for retail, gaming, and influencers but is now providing competitive advantages for leading accounting, management consulting, and other professional services firms and B-to-B companies looking to build their brands and increase business.
Adapting for Success: Strategic Insights for Law Firms in 2025 and Beyond
December 01, 2024
The legal industry is at an inflection point, grappling with challenges that range from rising client demands to technological disruption. There are five critical areas where firms can take a proactive, strategic approach, including actionable insights and recommendations for navigating 2025 and beyond.
Trends In Outsourcing: How Suppliers Are Meeting Demands In a Challenging Talent Market
December 01, 2024
In an era where skilled professionals are in high demand and hard to find, companies across industries are increasingly turning to outsourcing partners to fill critical roles. The outsourcing landscape has evolved significantly, shifting from a cost-saving measure to a strategic partnership that helps organizations meet their talent acquisition goals.
Navigating ‘Click to Cancel’ Regulations
December 01, 2024
Automatic renewals have become a preferred method of goods and service delivery for many businesses, particularly in the context of e-commerce. The patchwork of state and federal laws and regulations makes absolute compliance a difficult proposition for many companies. In a purported effort to provide clarity to companies regarding their compliance obligations in this space, the FTC recently finalized its Rule Concerning Recurring Subscriptions and Other Negative Option Programs. While the Final Rule has reached the last stage of the FTC’s rulemaking process, questions remain.
Creating an LPM Function Is the Start — Implementing It Is the Goal
December 01, 2024
On the one hand, Big Law is locked in this endless struggle to compete on metrics: revenue per lawyer; billable hours; realization rates, and of course profit per equity partner. The fact that these are all the wrong metrics to define success is a separate discussion. On the other hand, many of these firms don’t have profitability models. And even those who do, struggle to implement them. This is super-important, so let’s break this down.
Can Your Spouse Help You Find New Clients?
December 01, 2024
Sooner or later, everyone needs a lawyer. It has been said the average American knows 600 people. You might have done a good job at raising awareness among your friends about how your can help them. Your partner likely knows 600 people too. There is overlap, but plenty of new names. Can they spot a business opportunity and tell your story?
The Risks of Office-to-Residential Conversions
December 01, 2024
Office-to-residential conversions present significant challenges to owners and developers that arise from the interrelationship among the regulatory regime, the legal restrictions and requirements of the site and the physical requirements of conversion; the resulting incremental cost of conversions mean that many potential conversions just do not pencil out.
Defining ‘Alter Ego’ and Its Application to Determine Corporate Taxability
December 01, 2024
Creditors of corporate entities will, at various times, pursue the controlling shareholders to satisfy an undercapitalized corporation’s indebtedness. Following along these lines, when it comes to income taxation, it is always important to be able to identify the proper taxpayer. Alter ego concepts may aid in any such determination, i.e., determining whether a corporation that presumably realizes the income should be taxed, or whether the controlling shareholder realized the income and, therefore, should bear the tax liability.

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    The "right to associate" permits the insurer to work with the insured to investigate, defend, or settle a claim. Such partnerships protect the insurer and can prove beneficial to the insured's underlying case and ultimate exposure.
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  • Delaware Chancery Court Takes Fresh Look At Zone of Insolvency
    Over a decade ago, a Delaware Chancery Court's footnote in <i>Credit Lyonnais Bank Nederland, N.V. v. Pathe Communications</i>, 1991 WL 277613 (Del. Ch. 1991), established the "zone of insolvency" as something to be feared by directors and officers and served as a catalyst for countless creditor lawsuits. Claims by creditors committee and trustees against directors and officers for breach of fiduciary duties owed to creditors have since become commonplace. But in a decision that may have equally great repercussion both in the Boardroom and in bankruptcy cases, the Delaware Chancery Court has revisited zone-of-insolvency case law and limited this ever-expanding legal theory.
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