Legal Tech: The Evaporation of E-Discovery
December 01, 2021
The thinking in the legal world regarding e-discovery has so changed that, as with many other ideas and tools that were once novel, those ideas lost their novelty as those in the legal community became comfortable with them and thought of them as simply different ways of articulating ideas and tools long used in the legal world.
How Law Firms Can Gain a Competitive Advantage With Financial Intelligence
December 01, 2021
The results of a new report — Implementing Financial Intelligence to Give Law Firms a Competitive Advantage in 2022 and Beyond — revealed a striking shift in the role of law firm finance leaders, both in their value and impact. Many are using data to drive change in their organizations, amplifying the power of profitability, and leveraging their skill to fuel innovation. Ultimately, they are helping their firms gain a competitive advantage.
Rate Hikes Threatening Trusted Status with Clients
December 01, 2021
After years of clients working to trim their roster of firms to a trusted group that understands the specific challenges of their businesses, rate hikes are threatening to upset these delicate relationships.
How Should Law Firms Use Their Windfall of Profits?
December 01, 2021
After many firms experienced a highly profitable 2020 and sky-high demand levels in 2021, they found themselves with more cash than usual. While more than enough Big Law money has been lavished on associates and laterals recently, those aren't the only ways firms are spending their riches.
Report: Talent War Heating Up to 'Boiling Point'
December 01, 2021
Law firms are paying more for talent than ever before. But like other industries that've been hit by a so-called "Great Resignation," they're also hemorrhaging it like never before, and the result is a diminished return on investment that could reach a "boiling point" in the near future.
Lessons from 2021 That Will Help Prepare for 2022
November 01, 2021
Many firms are projecting that 2021 will be an improvement over 2020's average revenue growth and PPEP growth, which in January was not the common wisdom. But we have also learned some things in 2021 that should not be forgotten or overlooked in the rush to year-end.
New York Cannabis Law's Lease Mandate Catch-22
November 01, 2021
New York's recently enacted cannabis law, the Marijuana Regulation and Taxation of 2021 (MRTA), created a maze of new legal requirements that affect not only cannabis companies, but also the companies that conduct business with them.
Disruption, Opportunity and Outsourcing In a Post-COVID World
November 01, 2021
Law firms are at a crossroads triggered by the transformational impact of the pandemic, and wondering whether the mandate for change will continue or shrink back to pre-2020 operations. For most firms, the answer is to continue on the road for change, including reengineering the delivery of legal services.