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Features
The law firm business model of the past is under attack. Slowly, private legal is responding with things like developing knowledge management systems, establishing jobs for data analysts who can establish pricing of services and beginning to look at ways to outline workflows and processes. Unfortunately, corporate clients are impatient and are beginning to push harder for improved efficiency and increased speed of service delivery.
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By handling all involuntary terminations with professionalism and formality, law firms can limit the potential for conflict and give proper attention to the potential ethical and legal issues. Here are three tips for handling the transition of attorneys and staff from the firm.
Features
<b><i>How to Successfully Hire Lateral Partners</b></i><p>While a law firm asks for specific education, experience, contacts and portables at certain law firms, what if the candidates were to ask for their own list of must-haves? How would a firm measure up?
Features
The two major challenges now facing lawyer management in many of these mid-size firms are: 1) how to motivate the non-entrepreneurial attorneys to achieve and to perform; and 2) how to retain the "over-achiever" attorneys so they will remain with the firm.
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The role of chief strategy officer (CSO) — increasingly common in corporate America — has been adopted by relatively few law firms. Consultants say perceptions of what the position entails and whether it's necessary vary widely throughout the legal industry.
Features
No longer are law firms the only option for clients with legal work; they now have a wider menu of providers from which to choose. But what are the contours of that Alternative Legal Services (ALS) market? How are these new providers being used by corporate clients and law firms? What's driving that usage? And what does it mean for traditional law firms?
Features
The nature of legal work today and the need to consume vast amounts of unstructured text make our profession a ripe target for the promise of machine learning and artificial intelligence.
Features
Not too many years ago, good decisions made by smart lawyers were sufficient. Law firms were raising their fees substantially every year and attorney incomes were soaring. Now, corporate buyers are largely calling the shots, and excellent decision-making by law firm leaders is required as firms work to maintain their profitability.
Features
Marketing and business development in law firms is no longer the exclusive domain of marketing and business development executives. Many more executives are pursuing revenue in one form or another, and those dedicated to the function should welcome this development rather than feel threatened by it.
Features
Anyone following the news headlines of late is aware that artificial intelligence (AI) is being heralded as the technology that will transform industries far and wide — including the legal profession. The evolution of technology in the practice of law today has already led to significant advances in data analytics and data visualization, each of which are having a significant impact on legal work.