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Features

Security First Approach Provides a Significant Advantage to Law Firms Image

Security First Approach Provides a Significant Advantage to Law Firms

Mark Sangster

Security first is a holistic approach that views security not as an information technology nuisance in need of tight cost-management controls, but as a competitive advantage to differentiation from traditional business offerings. Here's what you need to know.

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How Many Excess Partners Does Your Firm Have? Image

How Many Excess Partners Does Your Firm Have?

Hugh A. Simons

It is widely recognized that Big Law has surplus partner capacity. What is less well recognized is just how massive this surplus has become, how unevenly it is spread across firms in different profitability cohorts, and what it portends for when the next downturn hits.

Features

Getting 'Gig'gy with It: The New 'Gig Economy' Image

Getting 'Gig'gy with It: The New 'Gig Economy'

Michael DeCosta

For the most part, law firms continue to structure themselves in a traditional operating and employment models with a dedicated workforce of talent arranged in an organizational hierarchy. In today's Gig Economy, this will unlikely hold.

Features

Read This Before You Set Your 2018 Billing Rates Image

Read This Before You Set Your 2018 Billing Rates

Hugh A. Simons

Setting the next year's billing rates follows a simple formula at most firms: last year's rate plus a common percentage increase across all lawyer cohorts. A more disaggregated approach is needed -- firms should set higher percentage increases for senior lawyers and lower increases for junior lawyers.

Features

Laterals: When Is the Best Time to Make a Move? Image

Laterals: When Is the Best Time to Make a Move?

Hugh A. Simons & Paola Cecchi-Dimeglio

If you are a partner considering a lateral move, then you are probably focused on the boost a new firm could offer your practice, and on cultural fit. However, the authors' review of the 2,353 partners who moved between Am Law 100 firms in 2010 through 2012 suggests that some more prosaic factors matter too.

Features

What Do Practice Group Leaders Really Do? Image

What Do Practice Group Leaders Really Do?

Joel A. Rose

<b><i>Part Two of a Two-Part Article</i></b><p>Last month, the author discussed the fact that even though managing partners recognize the importance of developing and implementing sound principles of practice management, the extent to which the concept is successfully implemented varies greatly from firm to firm. He concludes his discussion herein.

Features

Are Law Firms Charging Less or Just Making Less? Image

Are Law Firms Charging Less or Just Making Less?

Roy Strom

In a market where clients are struggling to deliver more legal services for less cost (the challenge), RichardSusskind says a law firm may be tempted to undercut its competition on price in hopes of winning more work. But is it actually happening?

Features

What Do Practice Group Leaders Really Do? Image

What Do Practice Group Leaders Really Do?

Joel A. Rose

<b><I>Part One of a Two-Part Article</I></b><p>Managing partners and members of executive committees in the most successful law firms strongly support the concept of having Practice Group Leaders (PGLs) assume a major role in their firms' efforts. Here's why.

Features

The Cost of Making Partner Image

The Cost of Making Partner

Brenda Sapino Jeffreys

Making partner isn't cheap, and the cost is more than just the years of hard work and stress that associates put in as they reach for the brass ring.

Features

Exit Interviews and Your Firm's Culture Image

Exit Interviews and Your Firm's Culture

Sharon Meit Abrahams

Through the process of conducting exit interviews with the good attorneys who have left, along with those the firm has asked to leave, you can gather intel about your firm's culture. The business justification for doing exit interviews is to learn about and improve systematic organizational or interpersonal issues that may be adversely impacting your firm.

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