Proactive pricing for law firms
Law firms which proactively design pricing strategies with clear outcomes in mind will consistently outperform their peers, the author argues. Read more @ lawvision.com
Last-minute tax planning strategies for attorneys and law firms
The tax codes place attorneys and law firms in specialized categories that create unique filing challenges – and financial opportunities – at tax time. Read more @ attorneyatwork.com
A new report shows the legal profession is at a technological crossroads
The survey of more than 2,800 legal professionals takes the industry’s pulse on AI use, fee collection practices, and hybrid work schedules. Read more @ lawnext.com
Three thoughts on legal services pricing
By sticking to the principles of certainty, adaptability, and value, lawyers can set prices that are fair to themselves and to their clients. Read more @ slaw.ca
Advice to attorneys: Make retainers big enough to cover a month’s fees
Following this simple retainer payment rule will protect lawyers from getting stiffed by clients who are being billed on an hourly basis. Read more @ abovethelaw.com
Was 2024 the beginning of the end for the old law firm business model?
While financial returns were generally robust for firms in 2024, a report on the state of the legal industry foresees significant structural changes on the horizon. Read more @ lawnext.com
Challenges to effective law firm pricing
Among the obstacles to accurate pricing strategies at some firms are partners who don’t appear to know the market value of their own work, a new survey indicates. Read more [...]
The bull, bear and base cases for law firm rate-setting in 2025
How firms set and manage realization rates – the actual amount they bill and collect from clients – will play a big role in determining firms’ revenue targets for the [...]
After 35 years, now what’s next for law firms?
The authors look back at how well one of them did in 1989 when she predicted coming trends in the legal industry and what the future looks like from 2024's [...]
The best compensation plans use the rule of thirds
How do you design profitable compensation plans for your law firm? Follow the wise counsel of the rule of thirds. Read more @ attorneyatwork.com
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