Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
A recent study published by Altman Weil listed the ways in which chief legal officers would like to see their outside counsel embrace service improvements and innovation. The top four responses were greater cost reduction, non-hourly pricing, more efficient project management and improved budget forecasting. To anyone paying even cursory attention to the legal marketplace in the last half decade, these should not come as a surprise. In fact, as the study goes on to report, a significantly higher number of law department budgets experienced reductions in 2012 than in the three years prior, so the pressure on outside counsel is likely to increase rather than abate. But are law firms listening? Several managing partners speaking on a panel at the recent College of Law Practice Management Futures conference reported that their greatest leadership concern is increasing revenue, and the leading tactic to accomplish this is attracting lateral partners with portable, healthy and profitable books of business. Of lesser importance, though certainly on the radar, is the desire to institutionalize clients so they are less likely to depart when partners go. It's unclear whether these leaders see the irony. What is clear is that many law firm leaders struggle with the apparently opposing goals of improving client service and improving law firm financial performance.
Nostalgia Isn't What It Used to Be
Many lawyers lament the bygone era when they performed interesting and quality legal work, clients were satisfied and hired them again and again, invoices were paid promptly and the billable hour was a perfectly satisfactory method for capturing the value of legal work product. Trouble is, as with most nostalgia, this was more fantasy than reality. In 2002, when the ABA issued its report encouraging the demise of the billable hour, it relied on research conducted in the 90s, which was based on decades of complaints and general unrest from both corporate counsel and private practice lawyers alike. In fact, the Association of Corporate Counsel (ne' American Corporate Counsel Association in 1982) was formed in part to give a stronger voice to client concerns, one of which was, and remains, the billable hour.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.