Law Firm Performance Metrics: Broadening Our Discussion
June 01, 2004
Last month's medley of views on law firm ranking metrics, while diverse, by no means exhausted what <i>A&FP</i> Board members and other contributors have to say about this important subject. The following two mini articles continue to address ranking-related problems, but will also help us broaden the scope of our discussion.
It's Back To Playing By The Rules: Sec. 412(i) Retirement Plans
June 01, 2004
A common expression in the tax arena is the "red flag" ' the concern that a tax deduction is so large, or the tax benefits of a transaction are so favorable to the taxpayer, that it is comparable to waving a red flag at the IRS, inviting scrutiny and possible adverse consequences. Over the past few years, certain retirement plans created under the provisions of Section 412(i) of the Internal Revenue Code have been designed using methods that are questionable, at best, in terms of compliance with the tax code and regulations. This problem became so pervasive that it was widely anticipated the IRS would respond to the red flags, and put an end to the abuses. Last month, it happened. IRS guidance and proposed regulations were enacted to try to get everyone to play by the rules. Not that the rules are bad; a 412(i) plan could still be right for you.
AHLA Seeks Clarification on Malpractice Insurance
May 28, 2004
<b>Part One of a two-part article</b>. Proper malpractice coverage is essential to any physician's practice. When that coverage is not readily available or premiums skyrocket, that essential can seem like a luxury. Physicians facing other economic pressures in their practice not infrequently opt to reduce their insurance limits, increase their deductible, drop their coverage altogether, retire or leave the area, or discontinue what they view as high-risk portions of their practice (eg, serving on ER call rosters or accepting Medicaid or indigent patients). As a result, physicians' personal assets (and careers) are more at risk, hospitals face more liability exposure as the "deep pocket," and patients face significantly reduced access to care.
Anti-Spam Law Impacts Legitimate e-Mail
May 26, 2004
Despite its clever name, the recently enacted CAN-SPAM Act does not in fact prohibit "spam." What the law does do is regulate "commercial e-mail," which is defined broadly. Accordingly, the legal department of every business that uses e-mail should be advising its employees to take immediate steps to comply with the Act, as violations carry stiff penalties.
Small Firm Marketing: How to 'Think Big'
May 01, 2004
The competition is heating up and smaller firms are in the hunt for ways to appear larger and have capabilities generally reserved for larger firms. The good news is that perception can become reality. Here are a few ways to "think big."
Advanced Professional Education for Law Firm Managers
May 01, 2004
A Chinese proverb states: "Learning is a treasure that will follow its owner everywhere." This proverb clearly applies to law firm administrators, due to the ever-increasing complexity of law practice management and the competitive pressures facing today's firms. Experienced and well-educated professional managers are being sought out in increasing numbers by firms of all sizes to assume responsibility for the administrative management of the enterprise. The field of legal administration has therefore continued to grow and evolve, as evidenced by the 9500-member Association of Legal Administrators. <br>Fortunately, there are a number of higher learning opportunities for legal professionals, and this article explores three of them.
Ranking Law Firms by Economic Performance: Divergent Views
May 01, 2004
In the decades since <i>Fortune</i> magazine's landmark ranking of the nation's wealthiest corporations (during the Great Depression, of all times), the passion for ranking in our business and general cultures has grown to what can well be described as an obsession. Almost 20 years ago, law firms were finally drawn into economic ranking ' or rather, reportedly, were dragged into it kicking and screaming ' by the AmLaw listings, published by American Lawyer Media, the parent corporation of this newsletter. <br><i>A&FP</i> readers should be able to guide their firms in how to contribute and use ranking data fairly and wisely. To that end, the following article excerpts and <i>A&FP</i> author commentaries assess the challenges of law firm ranking.
Why U.S. Franchisors Should Care About the Winds of Change in Ontario
May 01, 2004
For U.S.-based franchisors seeking international expansion, Canada is often the first choice for a host of obvious reasons: proximity; common language (almost); similar purchasing patterns; reaction to Canadian-tourist expression of interest; cross-border spill-over advertising; relatively low incremental cost to service a nearby 51st market area with a population roughly the size of California; etc.
