Law Firm Management

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Business as usual is different now, and we're not going back to the "good" old days when the fa'ade of increasing billing rates masked a multitude of law firm management sins.

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Law firms have begun to recognize that segmenting their services can be a good thing and a legitimate business model to deploy.

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Although happening slowly, project management and process improvement efforts are gradually improving the efficiency of U.S. legal practice, off-setting whatever demand growth the economy would otherwise have produced.

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This article examines the ethics of common partnership restrictive covenants, and suggests ways for firms to ethically protect the firm's interests.

Beginning a series on what it takes to map out the future direction for each lead and opportunity.

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There have been a spate of reports the last few months on alternative fee agreements, or AFAs as they are also known. Subsequently these have stirred a tremendous amount of conversation in the industry. Some of the conversation is helpful, some of it is constructively critical, and some of it is quite simply confusing.

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After three years of law school, hours spent studying for the Bar exam, and many years toiling away at the associate ranks, new partners often believe that there is nothing new they need to be taught about being a principle of a law firm. The resistance to spending time in a classroom is palpable. It is viewed as tedious and, since partners are rarely compensated for learning or personal development, they are less inclined to "waste" their time.

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In recent years, the U.S. Securities & Exchange Commission (SEC) has brought far fewer revenue recognition and other financial reporting cases than it had historically. That leads us naturally to wonder whether this trend will continue in the future. Not likely.