While there has been a slow pivot toward alternative fee arrangements in the last decade, many firms still cling to the tenet of the billable hour, even as artificial intelligence reimagines its contours.
January 01, 2025Caroline Byrne
The legal industry is at an inflection point, grappling with challenges that range from rising client demands to technological disruption. There are five critical areas where firms can take a proactive, strategic approach, including actionable insights and recommendations for navigating 2025 and beyond.
December 01, 2024Dan SafranAs the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.
November 01, 2024Leander Dolphin and Kent NevinsWith law firms continuing to face heightened market and industry pressures, business development is essential for both law firm growth and individual lawyer success. However, coaching lawyers to become effective rainmakers presents unique challenges.
November 01, 2024Yuliya LaRoeLaw firm operations are different now. Obviously, the biggest impact of COVID has been the inception and continuation of the hybrid work environment. This has been a kick in the pants for law firms to migrate to a digital working environment
November 01, 2024Rob MatternGetting new business doesn't always involve knocking on doors. It can often be gained by whispering in the right ears.
November 01, 2024Bryce SandersAt best, it is difficult to budget for external legal fees. Needs are uncertain at the beginning of the year, and there is constant pressure to hire the best firm possible. Here are three suggestions to help you reduce your external legal spend.
November 01, 2024James J. StapletonWith a growing number of firms moving to a two-tier partnership structure, the question becomes what comes next for the dwindling number of major firms that don't have a nonequity tier. At what point do tradition and culture yield to change and progression?
November 01, 2024Patrick SmithEnd 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.
October 01, 2024Saurabh MehraLaw 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.
October 01, 2024Patricia Nagy
