Features
Law Firm Profitability: The Art and Science
The Manner in Which Law Firm Leaders Measure Profitability Has the Potential to Have a Profound Impact on Behavior and Motivation, Particularly As More Firms Integrate This Metric Into Their Compensation Systems The manner in which law firm leaders measure profitability has the potential to have a profound impact on behavior and motivation.
Features
Big Law's Trojan Horse: Are the Big Four Preparing an Invasion?
<b><i>Law Firms Partner With the Big Four to Serve Their Clients, But the Accountants Pose an Existential Threat. What Will Happen If — or When — They Turn Competitive?</b></i><p>For law firm leaders, rank-and-file partners and everyone else in the law firm ecosystem, the Big Four shouldn't be a laughing matter. They are serious about selling legal services, and clients are listening.
Features
The Strategy of What You Don't Invest In
Advanced technology isn't free. Outfitting your team with equipment that will move the needle can require an impossibly large capital outlay. The solution may not be, therefore, to purchase all that gear. It may be to lease or finance it.
Features
New Department of Labor Regulation Expands Access to Employee Benefits
The rule, overseen by the DOL's Employee Benefits Security Administration, modifies the definition of “employer” under ERISA regarding entities that could sponsor group health and benefit coverage.
Features
New Partners Don't Know What to Expect After Promotion, Survey Shows
<b><i>More Law Firms Are Paving the Path to Partner, But What Happens Once One Gets There Is Less Than Certain</b></i><p>In some ways, the country's most recently promoted partners are more prepared than ever to take on their new roles. But the change still comes with its surprises.
Features
Financial Milestones on the Path from New Associate to Retiree
A rundown of the top items lawyers should have on their financial checklists, based on their career stage.
Features
Only 30% of Workday Is Spent on Billable Hours, Report Says
U.S. lawyers are still spending too little of their workday on billable hours, a year after an eye-opening report found lawyers devoted only 29% — 2.3 hours — of each eight-hour workday to billable hours.
Features
Valuation Implications of the Tax Cuts and Jobs Act of 2017
This article focuses on the impact of tax reform on C corporations and looks at the significant and complex changes to pass through entities.
Features
Law Firms Are More Profitable Than Ever. How are They Doing It?
<b><i>Given the Obstacles Law Firms Are Facing, Profitability Shouldn't Be Increasing</b></i><p>Rising competition from alternative service providers and the ever-forward march of technology adoption should be having a similar, negative, effect on profitability. This raises an obvious question — how are law firms doing it?
Features
Outsourcing the Back Office?
Outsourcing is supposed to be the new wave of the future that will fundamentally change the way that law firms provide services to their clients and partners. But is this so?
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