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On Feb. 13, 2012, the Internal Revenue Service issued Revenue Procedure 2012-17, which in part provides that partnerships may furnish their partners with an electronic copy of their Schedule K-1 if the partner has affirmatively consented to receive the K-1 in electronic format, such as in pdf form in an e-mail.
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Firms are increasingly using alternative fee structures to meet clients' demands for billing based on the perceived value they have received. This article discusses the reasons why, regardless of your firm's method of billing clients, it is still critical to track attorney billable and non-billable hours.
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This article provides for the legal marketing professional a guide to the basics of law firm economics, and includes sample metrics and ideas as to how to improve the contributions of the marketing department to the bottom line of your law firm.
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While rainmaking is probably one of many good reasons an individual is moved into an Office Managing Partner leadership role, the more distance from the day-to-day requirements for rainmaking, the more inevitable is the erosion of those skills.
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The information generated by web analytics is a valuable tool to help lawyers and law firms plan ' and continuously improve ' their content and their online content distribution campaigns.
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Law firms are trying to shift from survival tactics to the "New Normal" by addressing, not only the challenges they face, but also the changes they may have to make. However, there are few precedents for addressing many of the concerns.
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Not doing something how others expect it to be done or not getting the result others anticipate or assume will be had can give rise to resentment, loss of trust, and ruined client relationships.
LEADING LAW FIRM RAINMAKERS - Part II. Continuing commentary from top rain makers in the U.S. " . . . go where there are people willing to invest in [your] training and offer real opportunities to build a book of business." " . . . believe strongly in mentorship as a key component in law firm business development." " . . . never overlook anyone. The associates and junior business people of today are the gatekeepers of tomorrow." Note, no…
LEADING LAW FIRM RAINMAKERS - Part I. There will be no commentary, just their quotes which say it all! " . . . lawyers need to be not only expert practitioners, but also must know how to build relationships and market themselves." " . . . focus on business development with the junior people at [your] level in your clients' offices." " . . . the trick for a new lawyer is to focus on generating new relationships as…
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Although mobile shopping and electronic wallets are expected to grow significantly this year, neither will have any noticeable impact on law firms or the practice of law. What, then, are the technology trends that law firms should pay attention to and how will they uniquely impact the legal industry?