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Friday Share:  LexisNexis Software and a Sign of the Times

LexisNexis Raleigh NC

While we completed the office relocation to NC State’s Centennial Campus last summer, just yesterday we got our sign.  Literally…we got a big sign on our new building, as the photo nearby illustrates. To commemorate the occasion, we’re forgoing legal infographics and YouTube videos that are normally found in the Friday Share series for a humble brag today.  And we’ll ... Read More »

What Size is the Addressable US Legal Market?

how big is the US legal market

We know the legal market is large but just how large, is largely dependent, on the parameters in use. In the US, the venerable BTI Consulting puts that number at more than $100 billion.  Richard Granat, in a presentation about the latent market for legal services, says it’s roughly $145 billion.  In an article on his Legal Transformation Institute website ... Read More »

How Buyers Seek Out Small Law Firms and Determine Expertise

How Buyers Seek Out Small Law Firms and Determine Expertise

Note:  The following is a guest post by Lee Frederiksen a managing partner at Hinge Marketing. Understanding how buyers check out your law firm is an important element of creating the right messaging and marketing strategy required for growth and profitability. The more you know about your prospects’ purchasing behaviors and preferences, the more you can cater your moves to ... Read More »

Research: GC Reassign Litigation Work to Innovative Law Firms

General Counsel Reassigning Litigation Work to Innovative Law Firms

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. Each year, BTI Consulting Group surveys more than 300 general counsel at major American corporations and publishes its annual BTI Litigation Outlook report. There are five top litigation market drivers for 2015, according to BTI: 1. ... Read More »

5 Essential Practice Management Reports for Small Law Firms  

5 Essential Practice Management Reports for Small Law Firms

A recent survey of 309 small law firm billing practices in the U.S. found that about 80% use software for legal billing. That’s great news and as a legal technology vendor we are, unsurprisingly, big advocates of using software. About 67% – still a wide majority – say this software is “legal specific software” meaning it was designed for law ... Read More »

Infographic Friday:  6 Key Questions about BYOD

Infographic Friday 6 Key Questions about BYOD - header

BYOD, or bring your own device, is a hot issue in legal circles.  For corporate counsel, BYOD carries inherent risks.  For law firms, BYOD is yet another aspect of technology that contributing to “soft target” perception, and may be a contributing factor that some market watchers predicting a major breach in 2015. To be sure, there are strong and often ... Read More »

Law Firm Bill Rates Rising?  Update on Key Legal Spend Metrics

Enterprise Legal Management Trends Webinar-header

Are law firm bill rates rising?  The data suggests they are but, there’s a caveat, which we detail below in a brief summary of the latest CounselLink Enterprise Legal Management Trends report. It is important to note that this data is not based on survey information but rather based on actual invoices.  It is derived from nearly $17 billion in ... Read More »

10 Takeaways from the Shelton Leadership Forum

Culture Leadership Tips from an NC State Conference

One of the benefits of relocating the LexisNexis software division on NC State’s Centennial Campus is the access the university provides to a wealth of resources.   One of those resources is the Shelton Leadership Center which advocates the importance of “values-based leadership development for corporations, educational institutions, community agencies and public officials.” The center, which bears the namesake of General ... Read More »

Webinar:  Optimizing Law Firm Business Development

Optimizing Law Firm Business Development

“Law firms clearly are reinventing their organizations to support clients across the business development lifecycle. They are onboarding business development directors and managers, coaching attorneys in business development best practices, and hiring CMOs with sales experience,” said Krista Fuller in a blog post published by fSquared Marketing and titled Legal Marketing Trends 2015. The post, compiled by Lynn Foley, offers ... Read More »

5 Litigation Support Tech Trends from 2014 ILTA Survey

5 Litigation Support Tech Trends from 2014 ILTA Survey

Note:  The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. The International Legal Technology Association (ILTA)’s annual Technology Survey was just released, reporting on a wide range of legal IT trends across the past four years, based on the input of 454 law firms nationwide. One of the areas ... Read More »