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Economics tells us an industry that experiences a drop in aggregate demand, adds production capacity, and increases the market overlap among competitors will suffer price erosion and profitability decline. Law firms fit this profile. Yet, in talking with law firm partners, you don't get the sense that any such "disruption" is happening. Perhaps economics has bypassed law?
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Cyber attacks and theft are on the rise around the country, and law firms are becoming prime targets. Unlike manufacturers, banks and retailers, law firms are unique organizations that are highly vulnerable.
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When it comes to practicing litigation, the use of technology is no longer optional. What is optional, however, is under which business model firms deliver this service to their clients, and how to determine which model balances the most value — to the client and the firm.
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This article examines the cyber threat facing benefit plans, explores the applicable legal landscape, and recommends steps to better equip plans to prepare for and manage data breaches.
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Overall global spending in the information security services and products sector will total $86.4 billion this year, an increase of 7% over last year.
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One aspect of law firms that is becoming increasingly of interest to clients — and an area that might offer opportunities for differentiation — is law firm commitment to increasing and sustaining diversity.
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This article explores whether or not it makes sense to organize your law firm as a professional benefit corporation and/or B Corp to help you attract the growing number of clients seeking a law firm aligned with their social and environmental values.
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What is missing in driving revenue growth at law firms is accelerating leadership. It is one of 12 exceptional management practices that firms should focus on, including branding, building client value, strategy, team building, and so forth.
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Law firms may want to leverage a specific law firm management technology to gain a competitive advantage in the marketplace, but might not want to purchase those tools outright. How are you equipping your firm to succeed both in the present day and into the future?
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Matter profitability matters. Yet most firms struggle to measure it in a manner that is accurate, focused on the levers partners control, and inclines partners to take action. Using margin per-partner-hour (MPH) to measure profitability delivers on these objectives.