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Happy Thanksgiving

happy-thanksgiving

Note: The Business of Law Blog will return on Monday, November 28, following a brief Thanksgiving holiday hiatus. No matter how you look at it, we all have much to be thankful for—friends, family, freedom and the rule of law, to name just a few of the many things that come to mind. The LexisNexis Business of Law Blog is also thankful ... Read More »

“Issue Spotting” for Law Firms: Using eDiscovery Tech in Government Investigations

issue-spotting

Providers of eDiscovery services to law firms need to be technically proficient, adept at using software, cost-conscious and focused on quality, among other things. But according to one leading eDiscovery firm, there is another ingredient that is sometimes overlooked. “Our view is that eDiscovery is not a technical issue, it’s a legal issue with a technical solution,” said Dana Conneally, ... Read More »

Demo PCLaw or Time Matters for a Chance to Win an Amazon Echo or Other Great Prizes

Demo PCLaw or Time Matters for a Chance to Win an Amazon Echo or Other Great Prizes

It’s that time of year again … we can almost smell the turkey roasting in the oven and the apple pie bubbling over with delight, which can only mean one thing, Thanksgiving is coming! While most of us are getting ready to enjoy, arguably, America’s most anticipated meal, the impending Thanksgiving holiday also means the season of giving is upon ... Read More »

Data Security Audits: Start with the Resources Under Your Roof

Data Security Audits

Perhaps no topic has attracted as much attention – and angst – in the legal profession this year than data security. One strategy that many corporate clients are employing to try to minimize their risk profile in working with outside law firms and their third-party information service providers is to require them to undergo intensive data security audits. Earlier this ... Read More »

The Key to Success in a Client’s Market, Know Your Firm’s Financials

the-key-to-success

Note: The following is a digest version of the post we published last Wednesday, November 9. On the chance that a portion of our Business of Law Blog readers may have been distracted by the day’s election news, we’ve decided to provide a second opportunity to read this valuable information on law firm economics. Law firms ought to focus less ... Read More »

5 Ways Government Agencies Can Automate FOIA Compliance

5 Ways Government Agencies Can Automate FOIA Compliance

Complying with the Freedom of Information Act (FOIA) is an important way that our government agencies serve our democracy, but the fact is that complying with these mandates is incredibly time-consuming and expensive. A 2016 report from the U.S. Department of Justice found that the 100 agencies subject to FOIA transparency requirements received more than 713,168 requests in 2015 while ... Read More »

3 Reasons Law Firms Should Care About Passive Data Capture

3 Reasons Law Firms Should Care About Passive Data Capture

As they say in the legal profession, time is money. While most attorneys are measured by their proverbial “books of business,” the last thing they want to do is spend valuable time updating their client rolodexes. After all, clients pay top dollar for expert legal counsel, not data entry. Last week, we shared an anecdote about a database administrator at ... Read More »

Why Understanding Economics is the Key to Law Firm Profitability

Why Understanding Economics is the Key to Law Firm Profitability

“One of the biggest flaws with alternative fee arrangements (AFAs) not succeeding in law firms, is most law firms don’t understand their economics,” says Frederick J. Esposito, Jr., CLM, executive director of Long Island, New York and New Jersey based regional law firm, Rivkin Radler, LLP. Mr. Esposito believes law firms focus too heavily on rate setting. By contrast he ... Read More »

Streamlining Technology Procurement for Government Agencies

Streamlining Technology Procurement for Government Agencies

On October 24th, the General Services Administration (GSA) released its “Making It Easier to do Business with the Government Report,” summarizing accomplishments by the program last year and goals for next year. As reported by Federal Times, “the GSA’s plan to streamline acquisition is about to find its second gear.” At the federal, state and local levels, government agencies are ... Read More »

How to Go from 40K Known Law Firm Contacts to 250K Using InterAction IQ

InterAction IQ

Lateral hiring is a tried and true growth strategy for many law firms and with good reason. Each time a lateral is hired, that attorney brings a wealth of new and existing connections which ideally helps the firm grow its business pipeline. The only trouble is this strategy assumes that attorneys who are newly hired as laterals to the firm ... Read More »