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LAW FIRM MERGERS - WHO CARES?
April 09, 2008
LAW FIRM MERGERS – WHO CARES? is the second in our series on law firm mergers and the importance of integrating the marketing leadership from both firms as early in the process as possible. Since clients and internal stakeholders will be the most impacted,how should a firm get more people to care? Well, what do people care about? While marketing in a merger situation is not conceptually unique, it is exponentially more complicated because now you must refine the message and re-identify the messengers across multiple fronts. These fronts encompass the capabilities of the merging firms and the altogether new capabilities that the merged firm presents.With this premise set, our next column will focus on how you show – not tell – the marketplace that your intellectual and professional platform is indeed broader and deeper.
LAW FIRM MERGERS – WHO CARES? is the second in our series on law firm mergers and the importance of integrating the marketing leadership from both firms as early in the process as possible. Since clients and internal stakeholders will be the most impacted,how should a firm get more people to care? Well, what do people care about? While marketing in a merger situation is not conceptually unique, it is exponentially more complicated because now you must refine the message and re-identify the messengers across multiple fronts. These fronts encompass the capabilities of the merging firms and the altogether new capabilities that the merged firm presents.With this premise set, our next column will focus on how you show – not tell – the marketplace that your intellectual and professional platform is indeed broader and deeper.
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.