Law Firm Management

Showing 49–64 of 208 results

  • Some firms able to shine in a flat market

    Fall 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 403

    Abstract: Overall, the large law firm market is generally experiencing flat to little growth. Yet some firms have been able to notably outperform their peers. This article highlights a recent report from Thomson Reuters Legal Executive Institute that found that investments in areas such as business development, marketing and technology may make the difference for high-performing firms.

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  • Beyond checks: Alternative methods of payment gaining ground

    Fall 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 660

    Abstract: Paper checks are on the road to becoming obsolete in today’s digital-dominated world. Consumers are more likely to turn to other methods of payment, including credit cards and payment apps. Although law firms have long relied on checks, in part for reasons related to ethics rules, this article examines why it may be time to consider the alternatives.

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  • It’s time to pay – Revenue vs. profit-based compensation

    Fall 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 614

    Abstract: Today’s partner compensation typically goes beyond the traditional lockstep pay structure of years past. The question for firms may revolve around whether to compensate based on the revenue or profit each partner generates. But is a revenue-based compensation system effective? This article explains why a profit-based system may be the better way to achieve a firm’s long-term goals.

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  • When should you buy or lease office space?

    Fall 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 827

    Abstract: Like many businesses, law firms often face the quandary of whether to purchase or lease office space. While property ownership comes with several potential financial and tax benefits, it also frequently brings hassles and headaches law firms usually can avoid by leasing space. This article discusses the pros and cons of both buying and leasing office space. A short sidebar looks at cash flow considerations in the decision process.

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  • Get smart: Relationship intelligence for law firms

    Summer 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 428

    Abstract: New business is the lifeblood of every law firm, but few attorneys enjoy cold-calling. Firms with effective relationship intelligence systems, however, have a leg up on the competition. This article describes some ways law firms can use relationship intelligence to create profitable relationships among colleagues and clients.

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  • Tips to improve attorney timekeeping — and your profitability

    Summer 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 568

    Abstract: Timekeeping is a “necessary evil” for every law firm. Even attorneys who work on a contingent or flat-fee basis must track their hours to provide accurate time estimates and confirm they’re charging appropriate fees. This article highlights ways to get attorneys to better track their time.

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  • Making the most of lateral hires

    Summer 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 635

    Abstract: Many law firms use lateral hiring as part of their growth strategy. These lawyers can bring new clients, management experience and niche expertise. But recruiting and assimilating lateral hires can be expensive. This article explains ways to integrate lateral hires successfully.

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  • To merge or not to merge? 5 suggestions for making a good decision

    Summer 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 804

    Abstract: The past year has reaped a bumper crop of law firm mergers. While such announcements garner headlines, less attention is paid to the fact that nearly half of law firm mergers fail to meet financial and other expectations. This article reviews five critical factors firms mulling mergers should consider and includes a sidebar reviewing both good and bad reasons for firms to merge.

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  • What’s your firm worth?

    Spring 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 429

    Abstract: Law firms generally don’t pay as much attention to their value as technology companies or public corporations, but a variety of circumstances can trigger the need for a firm valuation. Although attorneys may often deal with business valuations in the course of their work for clients, they might be surprised to learn how law firm valuations can differ. This article summarizes what law firms need to know about valuing their own firms.

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  • 4 financial threats to your firm’s long-term survival

    Spring 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 500

    Abstract: Even with the economy on the upswing, many in the legal industry face precarious times, and they may not realize it. This article summarizes four threats in particular that could jeopardize a firm’s financial future: long-term debt, unfunded obligations to retired partners, overcompensation of current attorneys and ill-advised expansion.

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  • How paralegals affect your bottom line

    Spring 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 596

    Abstract: Although the roles and responsibilities of paralegals (or legal assistants) can differ widely by firm, these employees ideally should spend minimal time performing clerical or other work suited to legal secretaries and administrative staff. By the same token, paralegals shouldn’t do work that’s best handled by lawyers. This article explains why this matters and how it can affect a law firm’s profitability.

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  • Looking ahead: Is your succession planning up to speed?

    Spring 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 925

    Abstract: Millennials’ emergence as a prominent demographic highlights the need for many workplaces to prepare for a generational shift. Law firms are no exception, particularly those founded by dynamic Baby Boomer rainmakers. If firms are going to survive and thrive, they must think about how to transfer management and primary client relationship responsibilities from senior partners to their younger colleagues. This article highlights the need for law firms to engage in comprehensive and formal succession planning. A sidebar discusses replacement of a managing partner.

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  • 3 best practices for more effective budgeting

    Winter 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 401

    Abstract: The budgeting process may seem tedious and time-consuming, but it’s important. A law firm’s budget is more than a financial document ¬— it’s a roadmap that demonstrates goals, sets expectations and benchmarks, and guides decision making on critical issues related to partner distributions, resource allocation, financing and more. This article explains three key budgeting best practices.

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  • What do Millennial lawyers want?

    Winter 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 576

    Abstract: Millennial employees — generally defined as those born after 1980 — became the largest generation in the workplace in 2015, and now account for more than one-third of the U.S. workforce and as much as 21.5% of U.S. attorneys. As their predecessors move closer to retirement, Millennial attorneys are poised to play a critical role in the survival of law firms. This article reviews what experiences and expectations they bring to the workplace and ways to successfully recruit and retain these attorneys.

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  • Fraud prevention – It’s time to update your firm’s internal controls

    Winter 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 632

    Abstract: Most lawyers know how big a problem occupational fraud is in corporate America. Yet a “not at my firm” attitude persists. This article explains the unique risks that law firms face and offers a number of specific internal controls firms should have. It also discusses educating employees regarding preventing and deterring fraud.

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  • Ramp up your referrals – How to take an active role in generating new business

    Winter 2017
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 821

    Abstract: Referrals are typically the leading producer of new business for law firms. In other words, referrals mean revenues. Coming as they do from third parties, referrals might seem to be out of your control, but you can actually take an active role in generating more referrals. This article highlights several steps in particular that can pay off when practiced regularly. A sidebar looks at ethics issues in regard to referrals.

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