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Are Large Firm Rates Pushing Clients to Seek Other Alternatives?
Firms have been especially deliberate during the pandemic to increase the number of touch points they have with existing business, deepening ties with their roster of current clients by referring matters across practices and rewarding partners for that kind of origination. But with marketing spend surging and clients increasingly willing to move work around, Big Law firms' incumbent advantage could begin to wane.
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Current Economic Climate Likely to Cause Law Firms to Offer Flexible and Creative Fee Arrangements
The current economic climate will incline lawyers, specifically litigators, to rethink their fee structures. With inflation at a 40-year high, residential and commercial rents rising, and a predicted looming recession, clients are tightening their budgets, but also demanding the same level of service and results from their attorneys.
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While Associate Salaries Rise to Fight Talent War, Counsel Are Asking, 'Where's Mine?'
Uncertainty at most firms has led some Big Law counsel to become unhappy or disgruntled. They may be working the same long hours as their firms' associates, but, in some cases, they're now making less than lawyers with less experience. As a result, many counsel have been reaching out to recruiters.
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Rate Hikes Threatening Trusted Status with Clients
After years of clients working to trim their roster of firms to a trusted group that understands the specific challenges of their businesses, rate hikes are threatening to upset these delicate relationships.
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Enabling Monetization of Non-Monetary Victories
This article proposes language to include in retainer agreements to enable the monetization of non-monetary victories and compensate attorneys for all their work on behalf of their contingency clients.
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How Many Is Too Many? Billable Hours Can Reach Diminishing Returns
By now, it is well known that this year has been defined, at least in part, by the furious pace at which lawyers have been working. At what point do high billable hours mean diminishing returns for both the lawyer and the firm?
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Update on Business Bankruptcy Legal Fees and Professionalism
A review of recent cases shows that poor billing judgment and unreasonable billing have been with us for decades.
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How to Create a Law Firm Culture That Supports 'The Hustle'
Whether they practice at global firms consisting of thousands of lawyers or decide to hang a shingle and put their name on the door, lawyers chose a path requiring continuous, never-ending hustle. Not only do they need to master the practice of law, they need to master the art of driving revenue.
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How to Create a Culture In a Law Firm That Supports 'The Hustle'
Whether they practice at global firms consisting of thousands of lawyers or decide to hang a shingle and put their name on the door, lawyers chose a path requiring continuous, never-ending hustle. Not only do they need to master the practice of law, they need to master the art of driving revenue.
Features
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COUNSEL CONCERNS: Legal Fees Fallout From WWE Litigation
K&L Gates is being accused by a Massachusetts-based plaintiffs' attorney — who sued longtime K&L Gates client World Wrestling Entertainment in Connecticut federal court and is now saddled with sanctions — of making exorbitant demands for more than half a million dollars in legal fees.
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