Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Measurement is an essential management tool for law firms to monitor performance, manage resources, and highlight areas that need improvement. Utilizing Key Performance Indicators (KPIs) in a law firm is crucial for evaluating performance, profitability, client satisfaction, and overall success. Understanding which attorneys are the most profitable, which matters are the most lucrative, and the cost of acquiring new clients is crucial for making informed business decisions.
By tracking and analyzing key indicators, law firms can identify strengths and weaknesses, monitor goal achievement, and adapt strategies to stay competitive in the evolving legal industry. KPIs also serve as early warning signals, allowing firms to take corrective action swiftly, ensuring competitiveness and profitability. Overall, these measures are essential in enabling law firms to measure success, set goals, and make data-driven decisions that lead to better business outcomes.
While these metrics offer valuable insights for law firms, there are concerns to consider. Law firm KPIs could be misused or misinterpreted, potentially negatively impacting client satisfaction if focused solely on billable hours. Pressure to meet performance targets can lead to burnout and turnover among lawyers, and the time and costs associated with data collection pose additional challenges. Information overload is also a risk if too many KPIs are being tracked simultaneously.
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
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Ideally, the objective of defining the role and responsibilities of Practice Group Leaders should be to establish just enough structure and accountability within their respective practice group to maximize the economic potential of the firm, while institutionalizing the principles of leadership and teamwork.
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?