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KEY QUESTIONS FOR DEVELOPING NEW BUSINESS
KEY QUESTIONS FOR DEVELOPING NEW BUSINESS – Polls and surveys of in-house counsel reveal that, during the selection process, greater or lesser emphasis may be placed on: * Diversity * Pro Bono Activity * Community Service.Some companies heavily weigh these factors as they apply to competing law firms. Others may believe the activities of individual team members are more important.Some buyers place equal weight on firm reputation and individual practice in selecting outside counsel. Some CEOs or Boards of Directors demand the best law firm to solve a problem without much concern about who the individual lawyer is. From what you can see are they really looking to protect themselves with a safety buy, a top firm “brand” so that, if the engagement goes south, they can still say they makde the reasonably smart move? — Do you know? — Do you WANT to know? — Do you know how to find out?Stay tuned!
KEY QUESTIONS FOR DEVELOPING NEW BUSINESS – Polls and surveys of in-house counsel reveal that, during the selection process, greater or lesser emphasis may be placed on: * Diversity * Pro Bono Activity * Community Service.Some companies heavily weigh these factors as they apply to competing law firms. Others may believe the activities of individual team members are more important.Some buyers place equal weight on firm reputation and individual practice in selecting outside counsel. Some CEOs or Boards of Directors demand the best law firm to solve a problem without much concern about who the individual lawyer is. From what you can see are they really looking to protect themselves with a safety buy, a top firm “brand” so that, if the engagement goes south, they can still say they makde the reasonably smart move? — Do you know? — Do you WANT to know? — Do you know how to find out?Stay tuned!
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.