Can Millennials Save Your Law Firm?
December 01, 2017
<b><i>After Years of Complacency About Their Business Model and the Pipeline for Talent, There's a Reason Law Firms Are So Worried About Managing the Millennial Generation</b></i><p>For law firms wringing their hands about how to manage the millennial generation — or asking why they should adapt to this crop of young lawyers in the first place — here's the bad news: If you're still clinging to traditional models for training associates and running the partnership, you've already fallen behind. The millennials are here, they're climbing the ranks, and they've already begun to transform the industry.
Security First Approach Provides a Significant Advantage to Law Firms
December 01, 2017
Security first is a holistic approach that views security not as an information technology nuisance in need of tight cost-management controls, but as a competitive advantage to differentiation from traditional business offerings. Here's what you need to know.
Industry Growth Trending Up for the Year
December 01, 2017
The Equipment Leasing & Finance Foundation has released its Q4 update to the 2017 Equipment Leasing & Finance U.S. Economic Outlook, which increased its yearly equipment and software investment forecast to 4.3%, up from 3.6% forecast in the Q3 Outlook.
Getting 'Gig'gy with It: The New 'Gig Economy'
December 01, 2017
For the most part, law firms continue to structure themselves in a traditional operating and employment models with a dedicated workforce of talent arranged in an organizational hierarchy. In today's Gig Economy, this will unlikely hold.
NAFTA Renegotiation: Fourth Round
November 02, 2017
<b><i>Difficulty Making Headway on Thorny Issues</i></b><p>As the fourth round of the renegotiation of the North American Free Trade Agreement (NAFTA) with Canada and Mexico drew to a close on Oct.17, the parties opted to push back the starting date of the fifth round until mid-November to allow the negotiators more time to work on the most controversial issues that remain to be addressed. This article explains the issues.
Engaging Lawyers in a Follow-Up Initiative: A Case Study
November 02, 2017
A look at a recent group coaching initiative at a major law firm. Having had success with group coaching in the past, the CMO established a six-month pilot program and chose eight attorneys to participate. Here's what happened.
Laterals: When Is the Best Time to Make a Move?
November 02, 2017
If you are a partner considering a lateral move, then you are probably focused on the boost a new firm could offer your practice, and on cultural fit. However, the authors' review of the 2,353 partners who moved between Am Law 100 firms in 2010 through 2012 suggests that some more prosaic factors matter too.
Law Firms, Partners Await Answers on Trump Tax Plan
November 02, 2017
Will big law firms and their partners benefit from the new Republican tax plan promoted by President Donald Trump? Not necessarily, according to tax experts who say some gains may be eroded by loss of crucial deductions.
What Do Practice Group Leaders Really Do?
November 02, 2017
<b><i>Part Two of a Two-Part Article</i></b><p>Last month, the author discussed the fact that even though managing partners recognize the importance of developing and implementing sound principles of practice management, the extent to which the concept is successfully implemented varies greatly from firm to firm. He concludes his discussion herein.
Cyber Disaster Recovery
November 02, 2017
<b><i>How to Take a Law Firm Beyond Insurance</i></b><p>With expectations for an always-on law firm, significant challenges within the legal industry to maintain competitiveness and perform due practice for cybersecurity and other disaster scenarios come from both clients and regulatory bodies.
