Columns & Departments
<b><i>At the Intersection:</i></b> Making Your Net Work
Those who gauge networking success by the sheer number of contacts they can cultivate digitally need to get this through their heads: You are not "networked" unless you make your net work, which is to say, unless you work your net.
Features
<b><i>Business of Branding</i></b>: The Grand Rebrand
All rebranding projects are unique ' no two are the same. Here are a few tips that will help make your rebranding project ' should you dare to take one on ' a success.
Features
Sales Speak:Stop 'Selling Stuff '
Given that lawyers are not sales professionals and only spend a small amount of their time focused on business development, and given that they already have a full-time job, it's important to keep the business development approach as simple as possible. Some ideas related to keeping it simple follow:
Features
Equity Joint Ventures
When a client seeks representation on an equity joint venture, there are eight primary structural considerations that provide the framework for documenting the venture: 1) initial capital contributions; 2) future capital needs; 3) cash distribution waterfall; 4) governance; 5) transfers; 6) exit rights; 7) restrictive covenants; and 8) affiliate transactions.
Features
The Paper-to-Digital Law Firm
Even though the costs and inefficiencies of paper records are an obvious strain on the law firm business model, law firms struggle with less-paper initiatives for one key reason: according to ILTA members informally surveyed in over 20 cities domestically, about half of today's attorneys would still prefer to work with paper, even if the entire file is digitally available from the DMS.
Features
Deferred Compensation Plans Under Section 409A
Everything you need to know about deferred compensation plans.
Features
Linking Business Development to Partner Compensation
In recent years, as client fee pressure has increased and client loyalty has decreased, law firms are investing significant time and money in business development programs. Some partners receive training to dust off selling skills that were largely unnecessary during a time of plenty. Other partners receive training, then individualized coaching, then more training, then more coaching, in an often-futile attempt to turn everyone into a capable rainmaker.
Features
Social Media Scene: Using Your E-mail Newsletter
Attorneys are at a disadvantage when it comes to marketing themselves and their firms. So, how does a firm balance its need for client touch points without annoying a client who doesn't need these services at the moment?
Features
Proactive Information Governance
Information governance (IG) is how organizations tackle growing data volumes ' identifying what's important, what isn't, and what to do with it all.
Features
Marketing Tech: Five Steps to a Strategic Marketing Technology Budget
Drafting a technology budget that adds value to the firm is increasingly important, and following these five steps will go a long way in ensuring that is the case.
Need Help?
- Prefer an IP authenticated environment? Request a transition or call 800-756-8993.
- Need other assistance? email Customer Service or call 1-877-256-2472.
MOST POPULAR STORIES
- Top 5 Strategies for Managing the End-of-Year Collections FrenzyEnd 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.Read More ›
- The Self-Service Buyer Is On the RiseLaw 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.Read More ›
- Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.Read More ›
- Sink or Swim: The Evolving State of Law Firm Administrative SupportThe paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?Read More ›
- Tax Treatment of Judgments and SettlementsCounsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.Read More ›