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Firm Leaders: You Are the Sum of Your Parts Image

Firm Leaders: You Are the Sum of Your Parts

Mike Mellor

Large law firms rode a strong 2024 on the back of broad demand and aggressive rate growth — but the model is wobbling. Expense pressure is up, realization risk is real, and AI is reshaping how clients assess value. Firms that treat their legal and client experience as structured data (and not as anecdotal story sharing at meetings) will plan faster, pitch smarter, cross-sell wider, bill more, and protect margins when market tailwinds fade.

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Five Leadership Tactics That Will Determine Whether AI Becomes a Force for Innovation or Inertia Image

Five Leadership Tactics That Will Determine Whether AI Becomes a Force for Innovation or Inertia

Marcie Borgal Shunk

As law firms race to modernize, the differentiator won't be access to AI, but how leadership guides its adoption. A new era demands a human-driven approach: one that can articulate vision, lead through change, reshape culture and reengage people.

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Incoming Law Firm Leaders Are Not Prepared for Industry’s Transformative Period Image

Incoming Law Firm Leaders Are Not Prepared for Industry’s Transformative Period

Marcie Borgal Shunk

Incoming law firm leaders are not prepared — and the stakes have never been higher. As we enter one of the most transformative periods in the legal industry, marked by an uptick in the influence and power of talent, expanding adoption of AI, major political upheaval and the much-anticipated official entrance of a Big 4 accounting firm into the legal space, the importance and impact of strategic decision-making in the upper echelon of firms has never been greater.

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Legal Leaders Need To Create A High-Trust Culture Image

Legal Leaders Need To Create A High-Trust Culture

Lawrence Center

In any legal office, leaders set the tone, whether they lead a large or small office. Setting the tone means serving as a role model of trustworthiness and trust. Nothing serves to harm an organization more than a failure of trust, which can raise its ugly head in myriad ways on a daily basis.

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Authentic Communications Today Increase Success for Value-Driven Clients Image

Authentic Communications Today Increase Success for Value-Driven Clients

Leander Dolphin & Kent Nevins

As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.

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Elevate Your Thought Leadership: Strategies for Impactful Influence Image

Elevate Your Thought Leadership: Strategies for Impactful Influence

Vicki LaBrosse

Proving your status as an influencer in your industry is the most effective way to stand out in a crowded market. Thought leadership is not a destination but rather a journey of constant evolution and contribution to the collective knowledge of your industry.

Features

What We Should Have Learned from COVID, Part 1: When In Doubt, Communicate Image

What We Should Have Learned from COVID, Part 1: When In Doubt, Communicate

J. Mark Santiago

First In a Series First COVID Lesson: Leaders should communicate regularly to their firms in a more personal way, let their personality shine through, show some vulnerability and maybe reveal that they own a dog.

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The Impact of Gen X and Millennial Law Firm Leaders Image

The Impact of Gen X and Millennial Law Firm Leaders

Marci Taylor

Generation X lawyers stand poised to wield considerable influence. Often the unsung heroes in discussions about generational dynamics, Gen X professionals bring a wealth of strengths to law firm leadership. Their pragmatic outlook, honed by navigating shifts in technology and societal changes, positions them as adaptable leaders.

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Do Gen Xers and Millennials Make Good Law Firm Leaders? Image

Do Gen Xers and Millennials Make Good Law Firm Leaders?

Marci Taylor

Generation X lawyers stand poised to wield considerable influence. Gen X has always served as a bridge — between tradition and innovation, the old and the new. Unlike their predecessors who were more comfortable with tradition and a stare decisis mindset, they infuse a sense of flexibility and agility into management strategies.

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Law Firm Leadership: Beyond Coffee and Client Alerts: Strategizing Your Client Nurture System for Multidimensional Relationships Image

Law Firm Leadership: Beyond Coffee and Client Alerts: Strategizing Your Client Nurture System for Multidimensional Relationships

Yuliya LaRoe

Business development is, first and foremost, about people and your relationships with these people. While marketing and visibility activities (speaking, writing, etc.) are critical, it's the people who ultimately make the hiring decisions. As a lawyer, while time is rarely on your side, developing your Nurture System will help you strengthen and deepen your important relationships in ways that are sustainable and effective.

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MOST POPULAR STORIES

  • Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
    “Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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    There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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