Small law firm billing trends: Collections not slowing
Small- and medium-sized law firms are not experiencing the same slowdown in timely fee collections seen by Big Law, a billing services provider reports. Read more @ 8am.com
Trouble ahead for mid-size law firms?
A new report is reviving concerns that economic pressures will weigh more heavily in the coming years on mid-sized firms than on big or small practices. Read more @ abovethelaw.com
What tax strategies should law firms use?
An expert says most lawyers fail to strategize about taxes as the year unfolds, when the financial decisions that save them money can be made. Read more @ fretzin.com
The legal profession’s new value proposition
The days of selling legal tasks by the hour are waning. In the future, lawyers’ value will be set more by how well they navigate legal obstacles for clients. Read [...]
Why MSOs are a no-go for solo and small law firms
Management services organizations (MSOs) are being billed as the Next Big Thing in law firm finance. But past experience shows the model is not promising for smaller firms. Read more [...]
The hidden economics of student recruitment by law firms
An expert says law firms often don’t realize how much they spend on recruiting students, nor how best to manage the experience for both prospective lawyers and firms. Read more [...]
Adding 20 percent to flat-fee prices and not feeling guilty about it
Lawyers who bill on a flat-fee basis should build a cushion into their charges to protect against their added risk, an expert argues. Read more @ attorneyatwork.com
Consumer gripes appear to be rising over non-attorney-owned firms
A newspaper reports that Arizona’s loosening of regulatory rules against private equity ownership of law firms has left some clients dissatisfied. Read more @ lawnext.com
Mea culpa: What I got wrong about private equity in law firms
This expert says private equity is not waiting for ethical permission from the legal profession before investing in some firms. Read more @ attorneyatwork.com
A law firm’s year-end financial review checklist
Even if you can’t tell a KPI from an IRA, following these three financial tips will help you avoid trouble. Read more @ attorneyatwork.com
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