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

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

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 [...]

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 [...]

How do you design profitable compensation plans for your law firm? Follow the wise counsel of the rule of thirds. Read more @ attorneyatwork.com

Flexible payment options help your firm bridge the access to justice gap by easing the financial strain for potential clients. Read more @ www.nylawblog.typepad.com

The billable hour has been discussed for decades. Now, with Generative AI, many believe the legal industry will finally shift toward flat rates and alternative fee arrangements. Read more abovethelaw.com

While it’s possible to compare the cost of an annual fee against a card’s rewards and perks, cards without annual fees often offer benefits and rewards that are just as [...]

The "rule of thirds" ensures that a firm covers its operating expenses, adequately compensates partners for their work and investment, and retains a portion of profit for future stability and [...]