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WALK THE WALK - DON'T TALK THE TALK
Walking the walk means following through on what got you selected by inside counsel in the first place. Where 68% of law firms rate themselves an “A” for serving their clients, only 19% of in-house counsel would agree. This is according to the recent 18th Annual Survey of General Counsel by INSIDE COUNSEL. We will be spending the next several weeks reviewing how to avoid this disconnect and what in-house counsel expect their new firms to do with all of the information gathered and commitments made during the selection process.
Walking the walk means following through on what got you selected by inside counsel in the first place. Where 68% of law firms rate themselves an “A” for serving their clients, only 19% of in-house counsel would agree. This is according to the recent 18th Annual Survey of General Counsel by INSIDE COUNSEL. We will be spending the next several weeks reviewing how to avoid this disconnect and what in-house counsel expect their new firms to do with all of the information gathered and commitments made during the selection process.
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.