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Nearly one-third of senior law department leaders expect their annual operating budget to increase in 2017. That’s according to recently released data in ALM Intelligence’s Corporate Counsel Agenda, an annual survey of corporate counsel at large U.S. corporations. With almost half of respondents saying they expect no increase in 2017, that means three-quarters of law departments expect their budgets to either remain flat or increase — down from last year’s 84%.
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How to Create a Law Firm Culture That Supports ‘The Hustle’
By Randi Rosenblatt
Whether they practice at global firms consisting of thousands of lawyers or decide to hang a shingle and put their name on the door, lawyers chose a path requiring continuous, never-ending hustle. Not only do they need to master the practice of law, they need to master the art of driving revenue.
Despite Pandemic, Profits At Am Law 100 Firms Leapt to New Heights
By Brenda Sapino Jeffreys
The past year posed new and unusual challenges for U.S. law firms, rattled by economic uncertainty, remote work, stay-home orders and social distancing. Despite the turmoil, profits at the Am Law 100 leapt to new heights.
How Do Business Development Efforts In High-Performing Law Firms Differ?
By Meghan Frank
As firms and their clients continue to navigate ongoing business challenges in 2021, BD and marketing professionals first need to understand how mature their efforts are in specific areas. Then, they can look at what the successful firms are doing differently, so they can position themselves to join those ranks.
Law Firms Need to Look At Partnership Behaviors to Manage Profitability
By Hugh A. Simons
In the decade ahead, the mechanism for offsetting the effects of external market forces on profitability will shift from changing partnership composition to transforming a partnership’s behavioral norms, centering on how partners behave toward each other and help each other become the best possible version of their professional selves.
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