News of the legal market is all over the map. In April, The American Lawyer reported the Am Law 100 was amidst a modest rebound in both revenue and profit. “So as long as the global economy continues to do well, BigLaw will continue to do well,” said the publication’s editor-in-chief during an interview with Bloomberg. Two months later, several ... Read More »
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The integrity and usefulness of your data are the most important items to safeguard so that people w...
The following is a guest blog from PeopleLinx™ by Michael Idinopulos. In today’s legal ...
ALM’s 2013 Am Law Tech Survey recently released indicates clients are increasingly considering IT se...
It is that dreaded time of the year again when law firm CMOs are asked to come up with their budgets...
As you follow the enlightened path toward lateral recruitment success, remember the encouragement from my last blog: it’s essential to define your firm’s business strategy and understand your areas of profitable growth early in the process. If you do, you’re well on your way to a good outcome. If you don’t, it’s unreasonable to expect any lateral to fill-in-the-blanks and ... Read More »
So much of the conversation on alternative fee agreements (AFAs) only serves to stir confusion rather than clear it up. From a business perspective, AFAs are nothing more than a pricing strategy, something both companies that provide products and services experiment with all the time. Think about it in the context of department stores: who is the target market and ... Read More »
If you’re looking for bold, innovative ideas that can save a law firm significant dollars, you’ll be hard-pressed to top one approach used by Pillsbury Winthrop Shaw Pittman. Martin Metz, Chief Information Officer, was part of a team of Pillsbury’s top management who evaluated moving many of the firm’s non-legal functions from its largest cities to a less-expensive location. The thought ... Read More »
First order of business: My last post contained an open solicitation for your cheesy tourist photos. Rest assured, there are some wonderfully terrible pictures out there! As long as you feel like sharing them, I’ll be pleased to show a few favorites; here’s the first. If you’re hearing a shifty-eyed Susanna Hoffs singing in the background like I am, you ... Read More »
No doubt you’ve heard the definition of insanity is doing the same thing over and over again and expecting a different result. It’s a popular quotation which is often “mis-attributed to Albert Einstein, Benjamin Franklin, and Mark Twain,” according to Huffington Post reporter Clara Santa Maria. Regardless, it accurately reflects the sentiment expressed by Jordan Furlong in a post titled Design ... Read More »
In my last blog post, I expressed concern about a serious conundrum: so many legal firms forego organic growth to pursue lateral hires … even when the results and success rate for lateral acquisitions remain poor. Half of all laterals turn out to be failures, and an additional group falls short of meeting expectations. When you factor in the hard ... Read More »
Mobile isn’t a technology that’s coming—it’s arrived. Google’s mobile guru Tim Reis demonstrated this when he spelled out some compelling facts about the impact of mobile technology in a digital world: Mobile internet users will outpace desktop internet users this year By 2015 mobile transactions will reach $1 trillion (with a “T”) 50% of US mobile users have smart phones Therefore we ... Read More »
Last week, ALM published a new white paper titled Alternative Fee Arrangements at Legal Departments and Law Firms, largely based on a newly completed survey of law firms. Alternative Fee Agreements, or AFAs, have become an increasingly common word in the legalese lexicon and the survey may offer indications as to why.The report finds, “19 percent of corporate legal departments ... Read More »
Business conditions over the past few years have been … trying. And all the changes impacting the legal profession haven’t made things any easier. Is there any rock of stability in the midst of large law bankruptcies, alternative fees, globalization, technology shifts, new partnership models, legal process outsourcing, lateral hiring bubbles and overcapacity projections? Regardless of how conditions have changed ... Read More »