Commercial Real Estate Debt Restructuring
October 29, 2013
To restructure loans experiencing maturity defaults effectively, the business, finance, and legal sectors must collaborate in a field that is as much art as it is science.
Financial Considerations That Involve Your Partnership Agreement
October 02, 2013
Becoming a firm partner has long been the unquestioned goal of most lawyers. But in today's large law firms, with many hundreds of partners, is this still a desirable goal when a given partner's voice may have little influence over the direction of the firm, and when a partner's income is determined by a "compensation committee" that lacks transparency?
Subjective And Objective Compensation Systems
October 02, 2013
As we sift through the results from our recently published Partner Compensation System Survey, the data draws us to consider a wide variety of questions about this vitally important management and leadership system. While the majority of our survey respondents report using some form of subjective system, about 15% of the firms report that they use a purely formulaic/objective system.
How Not to Fail On Execution
October 02, 2013
According to the Gartner Group, 70% of outsourcing engagements fail and 90% do not meet their financial goals.
Alternative Fee Agreements
September 02, 2013
There have been a spate of reports the last few months on alternative fee agreements, or AFAs as they are also known. Subsequently these have stirred a tremendous amount of conversation in the industry. Some of the conversation is helpful, some of it is constructively critical, and some of it is quite simply confusing.
Taking Control of Your Partner Education Program
September 02, 2013
After three years of law school, hours spent studying for the Bar exam, and many years toiling away at the associate ranks, new partners often believe that there is nothing new they need to be taught about being a principle of a law firm. The resistance to spending time in a classroom is palpable. It is viewed as tedious and, since partners are rarely compensated for learning or personal development, they are less inclined to "waste" their time.
