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
The new frontier of law firm ownership: Private equity
The ownership of American legal firms is fragmented. That makes it an attractive target for private equity investment, despite ethics barriers. Read more @ royginsburg.com
Law firm metrics: What to do about data chaos?
QuickBooks says one thing, the practice management system another. The internal spreadsheet says something else. How a firm can tell what its revenues really are. Read more @ attorneyatwork.com
Can you retire on $1,000,000 in 2025?
The question is not only whether your money will last. But will it support a fulfilling life without the familiar routine of billable hours and court deadlines? Read more @ [...]
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