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
Client-centric payment options can improve a firm’s bottom line
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
Does AI signal the end of the billable hour?
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
Best small business credit cards with no annual fee
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 [...]
Simplifying your law firm’s ‘rule of thirds’ calculation
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 [...]
Navigating rate trends for 2024: strategies for pricing success
Successful rate execution transcends the numbers and relies on a combination of performance ideas, including behavioral science, culture, education, and strategic alignment. Here are the critical elements to consider. Read [...]
Top 5 year-end accounting to-dos for legal teams
Tackling these projects now positions your firm for strategic growth and success in the upcoming year. Read more www.cosmolex.com
Corporate counsel have a new strategy for controlling law firm rates
A Thomson Reuters led survey shows that as law firm rates grew, the effective rates paid by clients contracted. How can this be? Read more www.thomsonreuters.com
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