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We found 2,077 results for "Accounting and Financial Planning for Law Firms"...

Embracing Culture As a Path to Survival
Regardless of how technology continues to help the legal industry reinvent itself from a mature industry to a young and thriving one, culture and people will remain a key driver of any firm's long-term success. As a strategic imperative, creating a constructive culture of success takes much more than words with no actions. .
Embracing Culture As A Path to Survival
A strong, powerful and constructive culture has a significant impact on a business's ability to differentiate, to offer top-shelf client service, to attract and retain talent at all levels and to reach new levels of profitability. Regardless of how technology continues to help the legal industry reinvent itself from a mature industry to a young and thriving industry, culture and people will remain a key driver of any firm's long-term success.
The Coming Tsunami in the Legal Profession
There have been four waves of change over the last 50 years. We are now entering the fifth wave and this one will be a tsunami. The lawyers who do not recognize the trends will not be able to enter a new era and survive. The fifth wave will turn partnership leverage, compensation systems and the business model upside down. There is not much time to make the incremental changes that will support sustained profitability in law firms.
To Merge or Not to Merge?
The "one-percenters" that we are hearing so much about in this year's primary election campaigns also have an analogous place in current law firm economics. The rich are getting richer, and most others are struggling to hold their own.
Professional Development: Building Excitement Around Business Development
Ask lawyers what they find EXCITING about selling (it is okay to use the "sales" word) and most will say winning, followed closely by developing new relationships. On the flipside, they fear rejection and failure. Add risk aversion and low resilience to the mix and business development can feel daunting.
This Very Curious Real Estate Cycle
Every commercial real estate cycle is basically the same ' including that point, somewhere in the mid to end of the cycle, at which people become convinced that this one will be different for some specific reason. And here we are at that point again.
Business Crimes Hotline
In-depth discussion of two major cases, one out of Colorado, the other from New York.
How To Run Your Law Firm More Like a Business
If your firm is like most law firms, your top goals include growing revenue, and in turn, increasing profitability. You've implemented practice management software, and probably even a customer relationship management (CRM) system to help you achieve those objectives.
What Non-Delaware Lawyers Need to Know About e-Discovery in Delaware
Many non-Delaware lawyers will, at some point in their careers, find themselves practicing in a Delaware court after being admitted pro hac vice. For those that do, it is important to note that the Delaware courts take e-discovery seriously and have a sophisticated understanding of it. This article serves as a primer on conducting e-discovery in the Delaware courts.
Seventh Circuit Voids Lien-Securing Rescue Loan
A "bank [making a secured rescue loan] had information that should have created the requisite suspicion ' to conduct a diligent search for possible dirt" ' <I>i.e.</I>, whether the debtor had the right to pledge $312 million of customer securities, held the U.S. Court of Appeals for the Seventh Circuit on Jan. 8, 2016.

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  • The 'Sophisticated Insured' Defense
    A majority of courts consider the <i>contra proferentem</i> doctrine to be a pillar of insurance law. The doctrine requires ambiguous terms in an insurance policy to be construed against the insurer and in favor of coverage for the insured. A prominent rationale behind the doctrine is that insurance policies are usually standard-form contracts drafted entirely by insurers.
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  • Abandoned and Unused Cables: A Hidden Liability Under the 2002 National Electric Code
    In an effort to minimize the release of toxic gasses from cables in the event of fire, the 2002 version of the National Electric Code ("NEC"), promulgated by the National Fire Protection Association, sets forth new guidelines requiring that abandoned cables must be removed from buildings unless they are located in metal raceways or tagged "For Future Use." While the NEC is not, in itself, binding law, most jurisdictions in the United States adopt the NEC by reference in their state or local building and fire codes. Thus, noncompliance with the recent NEC guidelines will likely mean that a building is in violation of a building or fire code. If so, the building owner may also be in breach of agreements with tenants and lenders and may be jeopardizing its fire insurance coverage. Even in jurisdictions where the 2002 NEC has not been adopted, it may be argued that the guidelines represent the standard of reasonable care and could result in tort liability for the landlord if toxic gasses from abandoned cables are emitted in a fire. With these potential liabilities in mind, this article discusses: 1) how to address the abandoned wires and cables currently located within the risers, ceilings and other areas of properties, and 2) additional considerations in the placement and removal of telecommunications cables going forward.
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