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HOLY COW ' Where Have All the General Counsel Gone?
According to an article in Law360, almost 10% of large U.S. companies have selected new General Counsel in 2013. BTI consulting conducted the study soon to be released. And in the first 2 months of 2014, the GC's at Wellpoint, Pfizer and Deutsche Bank have departed.
This is a wake- up call to anyone who believes their 'corporate' relationships are solid. Make sure you and your team members build connections with all of the senior in-house counsel at every client, former client and prospect.
If you have a good relationship with the newly-departed, hopefully you will be engaged when he/she lands a new position. If you and your team have been actively building broader connections within the company's or agency's counsel office, and one of them becomes the new gate-keeper, your work will continue.
This can also present a great opportunity for firms who are not currently working with a particular counsel's office to jump into the vacuum and win a new engagement.
According to an article in Law360, almost 10% of large U.S. companies have selected new General Counsel in 2013. BTI consulting conducted the study soon to be released. And in the first 2 months of 2014, the GC's at Wellpoint,
This is a wake- up call to anyone who believes their 'corporate' relationships are solid. Make sure you and your team members build connections with all of the senior in-house counsel at every client, former client and prospect.
If you have a good relationship with the newly-departed, hopefully you will be engaged when he/she lands a new position. If you and your team have been actively building broader connections within the company's or agency's counsel office, and one of them becomes the new gate-keeper, your work will continue.
This can also present a great opportunity for firms who are not currently working with a particular counsel's office to jump into the vacuum and win a new engagement.
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.