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Due to a law firm’s team-oriented approach to business development and client service efforts, it is not always clear who should logically and most efficiently serve as the billing partner for a client or a particular client matter. A person should only be a billing partner if he or she is or will be performing the functions outline herein.
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By David Thomas
After a 5% increase in gross revenue and 3% growth in revenue per lawyer, the Am Law 100 were in a good place at the start of 2020. Then a global pandemic started. Now what?
By Dylan Jackson
For some firms in the Great Recession, reduced revenues combined with the overwhelming pressure from multimillion-dollar pension liabilities — a holdover from the days when pensions were simply a promise firms made to retiring partners — were too much to bear. But with the Great Recession now a decade in the past and another recession brewing, has the industry learned from its mistakes?
By Hugh A. Simons
Compensation systems are typically a strategic afterthought, seen as the means by which to allocate the spoils of a successful strategy. They’re viewed as affecting the level of grousing among partners, but not a firm’s performance. The data, however, indicates the reverse is true.
By Valerie Chan
The ability to adapt, be nimble and pivot as necessary is crucial to surviving and thriving in ever-changing economic climates. Communicating in the age of social distancing requires a new way of thinking and being — not just in the virtual workplace with our peers but also how we communicate and partner with our clients.