Law Firms 'Building a Case' for Automated e-Procurement Solutions
October 29, 2008
Procure-to-Pay automation technology has finally come of age as a user-friendly, flexible, and cost-effective strategic business solution. It is a solution that can ease pressures from the law firm partnership by decreasing the cost of doing business.
Value Behind the Business Process Patent Controversy
September 29, 2008
A decision in the controversial patent case <i>In re Bernard L. Bilski and Rand A. Warsaw v. U.S. Patent and Trademark Office</i> is currently pending in the U.S. Court of Appeals for the Federal Circuit. Nominally, at stake is the future patentability of business methods. In fact, the patent question is but the most visible element. The scope of the underlying topic is far greater. The case highlights the importance of the business processes that link global business networks and create value in the intangible assets that comprise approximately 70% of the average company's market capitalization.
Profits Per Me (PPM)
September 29, 2008
Lateral partner candidates need to look beyond PPP and focus on what the authors call PPM ' "profits per me." Averages are great, but how much of the law firm's profits can one fairly expect to get?
Non-employee Spouse Waivers of ERISA Plan Benefits Not Reliable
September 29, 2008
In an aging population, accumulations in employee retirement plans assume greater and greater importance. Nowhere is this more true than in divorce, when, for many couples, retirement savings represent the most significant part of their savings.
ERRATUM
September 26, 2008
In an article that appeared in the September 2008 issue, <i>Measuring Realization to Improve Firm Profits</i> by K. Jennie Kinnevy, the author's biography was inadvertently omitted.
Unreasonable Compensation to PC Shareholders: The IRS Gains a Victory
September 26, 2008
The general view has been that unreasonable compensation claims against shareholder employees of professional corporations was not an issue. In <i>Pediatric Surgical Associates P.C. v. Commissioner</i>, the Tax Court determined that compensation paid to the shareholder physicians was unreasonably high because it exceeded the value of the services performed. Many law firm professional corporations could face this same issue.
Partner Care
September 26, 2008
In an ever-increasing competitive environment, it becomes more and more difficult for law firms to distinguish themselves from their competitors. A quick scan of some of the better-known firm Web sites shows that many firms often look and sound alike. However, it is the quality and caliber of the attorneys that set the firms apart. Saying you're distinctive is much easier than proving it to the marketplace, your partners and staff. One area in which your firm can build distinction and establish itself as a leader is Partner Care.
Section 79 Planning Opportunities
September 26, 2008
Closely held businesses produce over 50% of the Gross National Product ("GNP"). Less than 50% of these businesses have a continuation plan and almost one-third of these companies (29%) use a buy-sell arrangement to assist in their planning. Buy-Sell agreements are very simple tools that over the years have grown to meet increasing needs of closely held businesses.
The Financial State of the Automotive Industry
September 24, 2008
Despite all the recent media attention focused on bankruptcy concerns among the domestic three automakers, we do not anticipate any domestic OEM filing for bankruptcy protection. However, we anticipate increased bankruptcy activity within the supplier base in the latter part of 2008 and into 2009.
