Employee Claims in Bankruptcy Pose Significant Liability Exposure
December 01, 2017
<b><i>Lessons Learned From In Re FPMI Solutions Inc.</i></b><p>When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.
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.
How Many Excess Partners Does Your Firm Have?
December 01, 2017
It is widely recognized that Big Law has surplus partner capacity. What is less well recognized is just how massive this surplus has become, how unevenly it is spread across firms in different profitability cohorts, and what it portends for when the next downturn hits.
<b><i>Voice of the Client:</i></b> What Does 'Different' Mean?
December 01, 2017
As firms turn their focus to revenue generation, some of the more progressive firms look to their clients to help them create their strategic priorities. In some cases, they even ask their clients to be involved in the planning process.
The Dark Web
November 02, 2017
The goals of this article are: 1) to provide a basic outline of the structure of the Web and to provide some insight into the purpose for and content housed on each level; and 2) to give some practical tips on preventing your company's data from ending up on the Dark Web.
Read This Before You Set Your 2018 Billing Rates
November 02, 2017
Setting the next year's billing rates follows a simple formula at most firms: last year's rate plus a common percentage increase across all lawyer cohorts. A more disaggregated approach is needed -- firms should set higher percentage increases for senior lawyers and lower increases for junior lawyers.
The Administrative Services Hat Trick
November 02, 2017
At the ALA annual conference in Denver, I was speaking on how law firms could provide better administrative support for their attorneys and how alternative strategies were being deployed by some law firms to achieve those goals. After my session, the discussion continued with a group of participants and the hat trick metaphor was born.
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.
Are Law Firms Charging Less or Just Making Less?
November 02, 2017
In a market where clients are struggling to deliver more legal services for less cost (the challenge), RichardSusskind says a law firm may be tempted to undercut its competition on price in hopes of winning more work. But is it actually happening?
Recognizing the Signs of Financial Distress
November 02, 2017
Diagnosing financial distress, and the ability to address the relevant issues, is a necessary role of board members and senior executives. This article examines the types of distress, how to measure it versus how the capital markets measure it, and some of the tools and solutions a company has to address the issues during times of stress.
