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 [...]

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 [...]

Tackling these projects now positions your firm for strategic growth and success in the upcoming year. Read more www.cosmolex.com

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

Rate tiering is a pricing strategy where law firms offer different rate schedules for their services. Each schedule typically includes the same set of timekeepers but at different hourly rates. [...]

A federal judge questioned how much of a $6 billion settlement for military veterans injured by faulty 3M Co. earplugs will go to outside investors. Disclosure is a contentious topic [...]

Keep in mind that legal billing software tools are not all the same. Some are basic and assist with invoicing, while others include time-tracking, accounting, online payments and more. Read [...]

Three reports that will answer most of your financial questions. Read more at www.lawtechnologytoday.org

It’s all too common for legal professionals to log billable hours, send out invoices and not get paid.  Here are a few best practices that will lead to an improved [...]

Whether you are employed by a mid-size firm or have your own practice, opening a separate credit card account for business expenses makes sense for multiple reasons. Read more at [...]