Business owners, among their numerous tasks, should seek to minimize income taxes as they would any other expense, of course accommodating to the extent necessary the needs of their business. In this regard, building a documentary record to support the various tax positions being taken may preserve an income tax deduction that otherwise would be lost
This article delves into the multifaceted implications of discounting corporate legal fees, exploring both the potential benefits and the risks associated with this strategy.
If you open the door to helping clients with financial planning, it can also make sense that a law firm might address the same concerns internally. In that case, the financial planning questions a forward-thinking attorney might ask of a client are also questions that attorney should be considering in their own life.
The past decade has brought a significant rise in internal conflict within partnerships. Partners are wielding their autonomy to speak out (often forcefully) in favor of or opposition to broader firm decisions. This dynamic is leaving many law firms at a disadvantage.
It is not uncommon for practitioners and law firms to employ the services of temporary (or contract) attorneys as the need may arise in contemporary practice. This article discusses the ethical obligations and associated risks that flow from engaging the services of a temporary attorney.
If legal marketing professionals are looking for the absolutely clear and consistent rules about attorney advertising that every firm can or should follow, know that the search is futile because the states not only modified the rules but called them by other names including codes, guidelines, standards, oaths, principles, pillars or tenets.
A new American Bar Association ethics opinion touches on what has been a risky business area for Big Law in the emergence of generative AI: billing and fees related to AI-supported legal work.
The LJN Quarterly Update highlights some of the articles from the nine LJN Newsletters titles over the quarter. Articles include in-depth analysis and insights from lawyers and other practice area experts.
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.
In the ever-evolving legal landscape, mid-size law firms find themselves at a critical juncture. Seismic shifts, accelerated by the pandemic, have reshaped the very fabric of our industry. Now, more than ever, agility, innovation, and a steadfast commitment to meeting client needs are not just desirable traits, but essential for business survival.
