Just Updated

Five Answers to the Question, “What Is the Law Cloud?”

law-cloud-legal-cloud-what-is

Type the words “law cloud” into Google and you’ll get, as of this writing, some 395,000,000 results. Change the search up slightly to “legal cloud” and there are slightly fewer results, at around 250,000,000. This makes it clear that there are a lot of people searching for information about cloud-based technology within the legal profession. And while the cloud isn’t new ... Read More »

Five Quick Takes from the Survey of Law Firm Economics

Five-Quick-Takes-from-the-Survey-of-Law-Firm-Economics1

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

Second-Hundred-Lateral-Moves-is-a-Wake-Up-Call-for-CRM

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 »

This is Not Your Father’s Law Firm

FathersLawFirm

Note:  the following is a contributed post by Micah Johnson.  Several weeks ago, I had the privilege of attending the CounselLink Annual Customer Conference. The “privilege” part is sincere. It’s a valuable learning experience any time you get the opportunity to sit down and sample the opinions of inside and outside counsel … even more so when they’re clients. One ... Read More »

Seven Takeaways from BTI Corporate Counsel Benchmark Study

MoneyMagnet

BTI Consulting Group just released its newest study: Benchmarking Corporate Counsel Management Strategies which is based on 240 interviews with corporate counsel at large and Fortune 1000 companies. The data were collected between March 22 and September 12, 2012. Here are seven takeaways: General Counsel priorities are changing. The survey found the top goal for corporate counsel is delivering more ... 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 »

Proving Value – Looking Beyond the Wallet

Wallet-1024x683

One of my favorite topics during meetings and presentations with General Counsel is measuring the value of legal departments. In my experience, nearly everybody in a corporation recognizes that the legal department adds value, but very few have concrete ideas regarding the right metrics to quantify that value. The default result has all the metrics focused on cost, thus perpetuating ... Read More »

5 Timeless Law Firm CRM Lessons from 2008

CRM-for-Law-Firms

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 »

Law Firm Housekeeping: Bill or Goodbye, Partners

law-firm-housekeeping

Note:  This post was originally published by Loretta Ruppert.  In today’s legal economy, it’s not enough to be a good lawyer and practice law. Whereas in the past a law firm evaluated performance of junior and senior associates and acted accordingly, these days even partners are being targeted. But this is not totally new news. In a recent Wall Street Journal article, ... Read More »

Partner Compensation models drive law firm culture

Partner Compensation models drive law firm culture

Note:  This post was originally published by Loretta Ruppert.  “If you want to understand a firm’s culture, start by understanding the firm’s compensation procedures,” wrote Eric Goldman, an Associate Professor of Law at Santa Clara University School of Law.  From personal experience compensation does drive behavior in a law firm – good and bad. And culture is really just the result ... Read More »