The Relationship Between Leadership and Management in More Successful Law Firms
March 01, 2018
Financial stability within a law firm practice does not guarantee harmony within the partnership itself — far from it. Law firm management that does not acknowledge or reflect the importance of firm leadership and the contributions and needs of its members endangers a firm's cohesiveness and its very existence, no matter how many clients come through the front door.
Cost Recovery in 2018: An Evolving Internal and External Strategy
March 01, 2018
It's now been 10 years since the economic crisis of 2008, and just under 10 years since we saw the greatest dip in demand for services experienced by the legal market. The market has stabilized since then, but growth has remained, year-over-year, flat. The Thomson Reuters 2018 Report on the State of the Legal Market shows this trend will continue as we see a market characterized by flat to sluggish growth, a continued decline in productivity, modest rate increases and the continued downward pressure on realization.
Online Marketing Practices Continue to Pose Regulatory Threats for the Financial Services Industry
March 01, 2018
Last year, the FTC released a staff report on Cross-Device Tracking, which added to the FTC's efforts to regulate emerging issues in the ever-evolving area of online behavioral advertising. The advertising in question involves the collection of data from a particular computer or device regarding a user's Internet-viewing behavior over time and across non-affiliate websites. Cross-device tracking is the logical next step for this technology.
Tax on Excess Tax-Exempt Org. Executive Compensation
February 01, 2018
Under the Tax Cut and Jobs Act, should certain employees of a tax-exempt organization receive compensation greater than $1,000,000 during the tax year from any combination of a tax-exempt organization and/or its related organizations, the organizations would be subject to an excise tax on that employee's compensation in proportion to their payments to the employee.
How Will Generation X Lead Big Law?
February 01, 2018
<b><i>Stop Obsessing About the Millennials (for Now)</b></i><p>For decades, members of Generation X have been stuck between two behemoth, attention-draining generations, wondering if they would forever be relegated to back-bench leadership — mere seat-warmers for ambitious millennials waiting for baby boomers to retire. Now, as boomers slowly face their own mortality and aging bodies after a lifetime of devotion to work, there is no longer a need to question whether Gen X will have an opportunity to lead.
Some Law Firm Leaders See Rosy 2018 Ahead
February 01, 2018
When it comes to law firm business, not everyone is depressed about the slow growth that plagued many firms in 2017, and that's predicted to persist into the new year. Or at least they won't admit it.
Five Ways to Eliminate the Need for a Corporate Monitor
February 01, 2018
Government-imposed corporate monitors — once a rare occurrence in the U.S. — are now commonplace, not only with domestic regulators, but also with regulatory agencies in various other countries, in connection with enforcement proceedings and prosecutions for criminal offenses such as anti-corruption violations and other misconduct.
Controlling Costs in Worker's Comp
February 01, 2018
<b><i>The Rolling Stones Were Wrong — Time Isn't on Your Side</b></i><p>Almost every business owner loathes worker's compensation insurance — costs are high and can go up significantly in the event of a claim or multiple claims. Also, worker's comp can be a cost center that is heavily impacted by fraud and abuse. If employers can control the number and severity of claims and lower worker's comp costs, they can put the money to better use.
