The Drive Toward Performance Measurement in Law Firm Administrative Functions
January 29, 2010
In response to increased pressure, administrative leaders are seeking out ways to measure the performance of administrative functions ' to justify the function's staffing and costs and to demonstrate the group's value to firm leadership. The drive for performance measurement programs in law firms entails a shift toward careful assessment and analysis of the overall performance of various law firm administrative functions and their respective value to the firm.
Valuation of a Law Practice
January 29, 2010
My firm has emphasized valuation services for over two decades, with a particular recognition for our work with professional service firm valuation, and more particularly in valuing law firms and ownership interests in law firms for a broad array of purposes ranging from dissolution of marriage, estate tax, shareholder disputes, and more recently in engagements to assist law firm ownership to protect and enhance value.
Strategic Sourcing
January 29, 2010
Law firms face an ongoing challenge to reduce costs. Proactive firms can reduce their recurring costs for goods, equipment and services while maintaining quality and service levels by developing and implementing strategic sourcing programs. Strategic sourcing involves systematically examining spending as a whole and developing a holistic strategy to achieve greater savings than could be gained by "one off" cost-cutting measures. While strategic sourcing does not include payroll costs, enhancing the quality of non-payroll services will indirectly help payroll cost management.
An Economic and Demographic Case for Alternative Fee Arrangements
January 29, 2010
We have known for some time that the law profession is aging. Until now, the effect that such aging could have on law firm revenues has been entirely masked by law firms raising hourly billing rates well in excess of general inflationary pressures, rising costs of operations and the increased experience of its practitioners. Now we are in an environment where competitive and market forces will almost certainly alter the ability to raise hourly billing rates consistent with historic patterns. The time has come to embrace alternatives to hourly pricing.
Braving Tempestuous Times
January 28, 2010
Hell-or-high-water" protection has long been considered a commercial necessity to ensure the free flow of equipment lease financing and now, bolstered by recent changes to the Uniform Commercial Code (UCC), it has been extended to accounts receivable financing of goods and services.
When It's Better to Be in Bed with the IRS
January 27, 2010
Individuals who live above their means generally pay off their marital debt with a portion of the proceeds from the sale of the marital home. But what happens when the client and his or her spouse have been living above their means by failing to file their federal and state income taxes?
How to Succeed in a Relocation Case
December 18, 2009
It can be a difficult task to persuade a court that it should permit the relocation of a child. Here are some of the pitfalls and how to avoid them.
Restructuring in Canada
December 17, 2009
This article is an attempt to familiarize American readers with some of the nuances and new amendments you may encounter if you are involved in a Canadian insolvency situation.
Leadership Isn't Management
December 17, 2009
Most marketing professionals and other non-attorney management realize that developing one's leadership skills is critical to success in a law firm. There is lots of guidance available ' in books, articles, blogs, conferences and more. Fortunately, much of it is specific to the business models of the service industry.
'VAT Package' Will Impact Law Firms
December 17, 2009
As of Jan. 1, 2010, law firms with offices in the EU that make taxable supplies of legal services to business customers in other EU countries have new monthly value-added tax reporting obligations. Failure to comply with these monthly reporting obligations can result in severe penalties.
