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BD: The Causes and Solutions to Slow Law Firm Growth

The Causes and Solutions to Slow Law Firm Growth

Three key aspects are the underlying reasons for slow law firm growth, according to Laura Meherg, a founding Partner with the Wicker Park Group.  She’ll be presenting at the first-ever LexisNexis® InterAction® business development conference – LexisNexis Accelerate – in March 2016.  We caught up with her to ask her a few questions about the state of BD in the ... Read More »

Insurance: Legal and Claims Rate Metrics with Most Value

Insurance Legal and Claims Rate Metrics with Most Value

If corporate attorneys across the market are seeking a sharper understanding of legal department metrics, then they might do well to review what peers in the insurance vertical are doing to measure litigation costs. In legal and claims work, in the property & casualty insurance vertical, efficiency matters. As a result, legal professionals working in insurance claims tend to be ... Read More »

Big Data: Steady but Subtle Increase in AFAs Use

Big Data Steady but Subtle Increase in AFAs Use

Subtle but steady – that’s what the data has to say about alternative fee arrangements (AFAs) – according to our own Kris Satkunas writing for InsideCounsel: AFAs rising: Data shows subtle but steady increase in non-traditional billing. The study reveals the overall number of legal departments actively engaging in AFAs grew sharply, to the tune of 76 percent, up from ... Read More »

How to Use Analytics to Improve Litigation

How to Use Analytics to Improve Litigation

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. Many progressive corporate legal departments have moved analytics to the front-end of their litigation management efforts. The idea is to get their arms around the litigation data as early as possible so the team can map out the size, ... Read More »

YouTube Friday:  Quantifying the Value of Client Retention

Quantifying the Value of Law Firm Client Retention-2

A new promotional video from the LexisNexis® InterAction® team underscores the significance relationships have on client retention.   More importantly, it expresses the significance client retention has on law firm financial health: “If you don’t know who your clients are then relationships are at risk and strategy is meaningless.” For most observers, the concept isn’t a stretch and we’d venture the ... Read More »

Virtual Stocking Stuffers:  Legal Tech Resources for December

Virtual Stocking Stuffers Legal Tech Resources for December

Legal tech nerds won’t have to wait until the holiday to unwrap new bits and bytes.  For the monthly legal tech roundup, we’re presenting several webinars, unveiling a law firm conference on business development and providing links to two newly published white papers. Most webinars are recorded, so even if you can’t make the live presentation, be sure to register to ... Read More »

Summary Judgment: 5 Legal Industry Studies in Brief

Summary Judgment 5 Legal Industry Studies in Brief

The legal industry is awash in studies and surveys.  We’ve been keeping track of a few reports that have recently appeared on the business of law on the radar and poured over the subsequent analysis and commentary.  The studies cover: IT security, law firm M&A, economic confidence, attorney lifestyle and eDiscovery. Summaries to five recent legal industry studies follow below – ... Read More »

Inside Counsel Salaries Brighten as Skillsets Widen

Inside Counsel Salaries Brighten as Skillsets Widen

A handful of recent surveys indicate that in-house compensation is rising even as businesses expect more from corporate lawyers – both in terms of workload and skillsets. “An in-house attorney with 10 or more years’ experience working at a large company (with $250 million in revenue or more) can expect to take in 3.4 percent more in 2016 than in ... Read More »

5 Immediate Needs in Hanging out a Shingle

5 Immediate Needs in Hanging out a Shingle

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Any new small business owner runs into immediate needs the moment the door to the shop swings open.  New law firms, whether a newly minted attorney or a veteran litigator breaking off from Big Law to go it ... Read More »

Dear Legal:  Happy Thanksgiving!

Dear Legal Happy Thanksgiving

We stumbled upon a contributed article by Roy Ginsburg, and published on Attorney at Work about this time last year and thought it worthwhile to share here. The article – Lawyers, Give Thanks: You Have It Better Than You Think! – identifies three things lawyers, and perhaps the legal professionals that support lawyers have to be thankful for: “First, we ... Read More »