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What do New Law Firm Owners Fear? Old Firm Mistakes…

What do New Law Firm Owners Fear

What could possibly be more frightening than starting a new law firm? All too often, dealing with the problems that plague so many older, more established firms.

Like troubles getting paid, protecting confidential data in an era when data thefts are everyday news, or worries about malpractice.

What do New Law Firm Owners Fear Old Firm Mistakes…getting paid

Confidential Materials. Stop Reading Immediately!

What’s the good news if you’re trying to protect your new law firm from confidential data theft? According to a 2012 article in GPSolo, proper email encryption can be “so effective that law enforcement and federal agencies are complaining that they are unable to retrieve encrypted data in criminal investigations.”

The bad news? According to a 2014 LexisNexis document security survey, more than three-quarters of law firm respondents employ security methods somewhat akin to protecting an unlocked bank vault with red-velvet ropes.

Similar findings stemmed from the most recent ABA Technology survey.  Sam Glover of Lawyerist didn’t pull any punches in his assessment: 70% of Lawyers Think Words Make Email Safe, Are Incompetent.

Confidential Materials Stop Reading Immediately

The Super-Small Guide to Avoiding Malpractice

Think going out on your own to start a law firm makes you more vulnerable to malpractice?

In reality, solo law firms have the lowest chance statistically of being hit with a malpractice action.

Even though they constitute the largest percentage of total law firms (48%), they’re responsible for a significantly lower percentage (34%) of claims according to the most recent ABA Profile of Legal Malpractice Claims (2011).

The Super-Small Guide to Avoiding Malpractice

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Webinar:  Boot Camp for Hanging a Shingle

Interested in discovering even more ways to make your new firm successful? We’re hosting a webinar for attorneys thinking about starting a new law firm in early November with Small Law Firm Bootcamp pros Ernie (aka Ernie the Attorney) Svenson and Craig Bayer:

Check out the entire Independents’ Guide infographic now to learn about the advantages new law firm owners have over well-established firms (no registration required).

If you enjoyed this post, you might also like:
Six Business Metrics Every Law Firm Should Measure 

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About Paula Avery

Paula Avery
Paula Avery is the Creative Manager, Content for the Business of Law and Litigation Software Solutions (BLSS) group at LexisNexis Legal & Professional. With a long background in advertising and marketing – including 20 years running her own advertising/consulting firm – Avery’s focus is on helping companies better connect with and communicate what makes their customers’ lives better, a focus she continues in her work with LexisNexis today. Paula has a Bachelor’s Degree in Journalism from the University of North Carolina at Chapel Hill.
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