The 5 Current Top Law Firm Business Development Trends
August 01, 2023
As firms strive to remain competitive in an increasingly crowded marketplace, marketing and business development professionals can and should play a critical role in driving growth and helping generate revenue.
The Top 5 Law Firm Business Development Trends of 2023
August 01, 2023
The legal industry has undergone significant changes over the years with advancements in technology, shifting client expectations and increased competition driving firms to adapt and evolve. And while legal marketing and business development departments have transformed over as well, there is still much room for improvement to capitalize on the tremendous talent that exists within these teams.
Who Is Legally Liable for Internet AI Deepfake Content?
July 01, 2023
Most agree that internet deepfake (deep learning + fake) content is widespread and may be used to manipulate the public, attack personal rights, infringe intellectual property and cause personal data difficulties. However, little agreement exists as to who is legally liable for internet AI deepfake content.
Legal Tech: TAR As a Reincarnation of Human Review
July 01, 2023
This article seeks to provide clarity and context on the different types of AI available in the legal industry today and how the new GPT technology fits into that landscape. More importantly, it will illustrate the potential impact of the next generation of AI on litigation and legal practice as a whole.
How Law Firms Can Utilize Artificial Intelligence for Marketing
July 01, 2023
Artificial Intelligence will revolutionize law firm marketing forever. Law firms are now (or should be) leveraging the potential of AI in order to enhance their marketing efforts. By harnessing the capabilities of AI, law firms are able to expand their marketing strategies, boost efficiency, accuracy, and overall client engagement.
Converting Debt to Equity: An Alternative to Modification or Extension of Loans
July 01, 2023
Historically, lenders have been unwilling to go into business with their borrowers, preferring to observe a rigid separation between debtor and creditor. However, if an office property can be repositioned for another use, there is a path between extending the term of a loan and hoping for the best, and taking the property back and realizing a catastrophic loss.
Is Non-Lawyer Ownership of Law Firms Coming Soon?
July 01, 2023
Powerful forces are now pushing regulators in the direction of non-lawyer ownership of law firms in the United States. Some of the forces are completely well-intentioned, but some of the forces are not so well-intentioned.
Young Partners Need to Embrace an Ownership Mentality
July 01, 2023
Firms promote associates to partner and then expect them to "act" like a partner. Acting like a partner is an unclear declaration and can cover a wide range of expectations. One of the most important expectations for these newly minted partners is for them to have an ownership mindset. The mindset of a business owner is not something that comes naturally, nor is it in any way developed through the associate years.
Should Law Firms Make Pass-Through Entity Tax Elections?
July 01, 2023
As a result of the TCJA, the owners of pass-through entities are limited in the amount of state and local taxes they can deduct on their Federal income tax return. In response, over 25 states have enacted pass-through entity tax regimes, which allow the owners of law firms to preserve their state and local tax deduction on their income from the law firm.
