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21 Expert Predictions for the Legal Industry in 2014

Expert-Predictions-for-the-Legal-Industry

The years end is a time for both reflection and forecast.  It’s a chance to step back, to consider what happened in the last 12 months, and how that will impact the industry in the next 12 months. To that end we reached out to several experts in the legal industry.  Some of these predictions are from practicing attorneys and ... Read More »

Legal Industry Predictions for 2014 and Beyond

legal industry predictions

Note:  We recently asked several smart people for legal industry predictions for 2014 by email. Sam Glover provided such a compelling response we asked his permission to publish it as a guest post.  * * * Barring the occasional economic meltdown, the business of law does not change much from year-to-year, so it is more than a little pointless to try to predict ... Read More »

Eight Simple Tactics to Minimize Attorney Malpractice

top 5 alleged errors

Statistically, every practicing lawyer will face three malpractice claims in his or her career, according to Todd C. Scott, a risk management advisor with Minnesota Lawyers Mutual Insurance Company. Some practice areas, such as personal injury, will incur more than three – and the odds have seemingly increased in the last several years.  In fact, malpractice claims in that specialty rose 30 ... Read More »

5 Takeaways from a Law Firm CRM Survey

Barriers-to-CRM-success

Last week we published the results of a new survey on law firm CRM in 2013. Certainly the survey’s purpose was market research, but we also set out to test some of the ideas we’ve heard (and written about) in the marketplace. Here’s what we found at a glance: 1. CRM projects in law firms are maturing. It’s no surprise perhaps that CRM projects ... Read More »

New Survey: Insight Into The State Of Law Firm CRM

Law-firm-CRM-investment

Note:  This post was originally published by Ted Seward. It is never sufficient to just have a CRM system; the real value comes from use.  We recently completed a CRM survey that provides insight into the state of CRM in the legal market. The findings can be summed up by saying: you get back what you put into it. The ... Read More »

9 Must Read Reactions to the ELM Trends Report

litigation spending matters

What set the first-ever Enterprise Legal Management Trends Report apart wasn’t just the conclusions, but the data set that produced those conclusions. This study was not a survey but rather an analysis of invoices paid. In other words, we didn’t ask corporate counsel what they were doing, or even what they planned to do but rather, we looked at what they did. ... Read More »

ELM Trends Report: Turning Information Into Action

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As previously discussed in this blog, LexisNexis CounselLink recently published its first Enterprise Legal Management Trends Report. This report contains a wealth of information on evolving practices by corporate legal departments regarding legal spend management. An important question for individuals in roles responsible for managing legal spend – be it General Counsel, legal department operations managers, or in-house counsel – is ... Read More »

New Infographic: What Attorneys Need to Know about Malpractice

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According to the ABA the likelihood of a private practice attorney being sued for malpractice in any given year runs between 4% and 17%.  Further, attorneys who are establishing their firms can expect, on average, at least three malpractice claims over their careers. Clearly this isn’t a happy subject, and to help, the Law Firm Practice Management team has put ... Read More »

Measuring What Matters About Matters

enterprise legal management trends

Recently, LexisNexis CounselLink published its first Enterprise Legal Management Trends Report. One of the key metrics included in the report is blended average matter rates, which I think warrants more discussion. When I talk to most managers of legal departments or their procurement partners, their efforts to manage rates usually focus on individual timekeepers. It’s time to look at the big ... Read More »

4 Useful Studies that Help Law Firms Understand the Cloud

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More and more studies suggest law firms are increasingly adopting cloud-based services, from secure file sharing to law firm practice management tools. But just because everyone else is doing it isn’t always the best reason to follow suit.  Besides, there are still a lot of smart and savvy people with that basic burning question:  What is the law cloud? Knowledge can reduce anxiousness – especially ... Read More »