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Five Quick Takes from the Survey of Law Firm Economics

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After a week of stories about “big law is dying” the continuation of that news angle was somewhat blunted today with the announcement of the 2013 Survey of Law Firm Economics, which was first published in 1972. The study, conducted jointly by ALM and The National Law Journal, is a survey of 2012 economic figures and “contains information about nearly 10,000 lawyers from 159 U.S. law firms,” ... Read More »

Second Hundred Lateral Moves is a Wake Up Call for CRM

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The Am Law 200 has reportedly increased headcount and at the expense of the top tier law firms. Headcount was up 885 or about a 3% increase, versus a 0.8% increase in top tier firms.  There’s a business case for lateral hires: often they come with a book of clients. Under the current economic conditions, law firms have had two broad approaches for ... Read More »

Seven Essential AFA Articles Every Lawyer Should Read

AFAs, legal

So much of the conversation on alternative fee agreements (AFAs) only serves to stir confusion rather than clear it up.  From a business perspective, AFAs are nothing more than a pricing strategy, something both companies that provide products and services experiment with all the time. Think about it in the context of department stores: who is the target market and ... Read More »

5 Timeless Law Firm CRM Lessons from 2008

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Although the modern personalization of search results means different people will see different results, there’s a good chance if you search for the phrase “CRM for law firms,” many of us will see the same top organic or natural search results. The top organic result for this term is likely to be a timeless article from the ABA’s Law Practice Magazine titled, Is ... Read More »