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We found 2,056 results for "Accounting and Financial Planning for Law Firms"...

'Do More With Less' Is Theme from New Legal Ops Report
November 01, 2023
The overarching finding of Thomson Reuters Institute's "2023 Legal Department Operations Index" is that workloads are increasing but budgets aren't. The phrase "do more with less" appears three times in the report and similar sentiments appear on nearly every page of the its 25 pages.
Embracing Drivers of Performance Other Than Billable Hours Can Be More Efficient and Resilient to Change
November 01, 2023
By shifting some focus away from input (billable hours) and embracing output (results), law firms can become more efficient and resilient to industry changes, improve client satisfaction, attract top talent and be better equipped to meet other, more long-term financial targets.
Lack of a Succession Plan Can Lead to the Death of a Law Firm
October 01, 2023
Firms with aging managing partners should develop a succession plan for transferring clients and management responsibilities (over a five-to-ten-year transition period) to the firm's younger attorneys.
New Partner Training Is a Key Component of Law Firm Success
October 01, 2023
Training new partners helps them develop the necessary skills to become successful attorneys and eventually leaders in their firms. This investment demonstrates the commitment the firm has to the young partner which will reduce attrition and enhance engagement.
Billing Harmony: 5 Tips for Crafting Clear Billing Guidelines
October 01, 2023
Clear billing guidelines are essential for effectively managing client relationships and preventing costly and time-consuming billing disputes. Well-defined billing standards set expectations upfront, ensure consistent application of rates and procedures and provide transparency around what work will be performed and how it will be billed.
Best Practices In Building Contingency Fee Practices
October 01, 2023
There are two major factors motivating firms to move in the direction of more risk sharing and more contingency work. The first is client-driven, the second is basic law firm economics.
2023 GC Compensation Survey: Pay Rises, But Not Everyone Is Happy About It
October 01, 2023
Tech companies grabbed six of the top 10 slots on the list, which ranks by total compensation. The five most-highly paid legal chiefs received more than $20 million, while all the top 10 collected more than $15 million.
New Report Focuses on How Modern Law Firms Are Navigating Digital Transformation
September 01, 2023
Leadership, Growth, and Profitability in a Post-Pandemic Era: Insights on Navigating Digital Transformation in the Modern Law Firm emphasizes the connection between legal technology and law firm success, the importance of training to ensure technology adoption, the influence of automation and document management on digital transformation, and how law firms are deploying data to create a competitive advantage.
How to Build the Law Firm of the Future
September 01, 2023
The onus is on law firm leaders to balance risk and opportunity. How can firms guide through an increasingly perilous landscape rife with opposing hazards to start building the law firm of the future today?
The Flight to Quality and Workplace Experience
September 01, 2023
That the pace of change is "accelerating" is surely an understatement. What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from "office optional," to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.

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  • The Article 8 Opt In
    The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
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  • The Anti-Assignment Override Provisions
    UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?
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  • Chambers & Partners: What's New After Sale
    On Nov. 10, 2023, Abry Partners, a leading North American middle market private equity firm, announced that it had acquired Chambers & Partners for $449 million from Inflexion, the UK private equity firm that purchased Chambers in 2018. What will this mean?
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  • Strategy vs. Tactics: Two Sides of a Difficult Coin
    With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
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  • Major Differences In UK, U.S. Copyright Laws
    This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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