Many firms continue to act as if billing a particular number of hours is the most valuable use of every attorney’s time. In the grand scheme of things, however, devoting time and resources to strategizing the firm’s positioning in the market can be more lucrative. Firm leaders, having never been taught to value management time […]
Members of the State Bar of California’s Closing the Justice Gap working group are split over how broad to make the state’s trial of regulatory changes. The board of trustees approved the working group, which is tasked with considering changes in nonlawyer ownership and fee sharing, in May 2020. Its SCOPE subcommittee is currently debating whether or not the organizations […]
In Their Own Words, a report from the American Bar Association’s Initiative on Long-Term Careers for Women in Law, sheds light on the complex reasons experienced women lawyers leave law firms or legal practice entirely. The document summarizes findings from interviews and focus groups with over one hundred women, each with fifteen or more years […]
The past year has only fueled the move toward a more digital world. By now, many law firms have made use of Facebook or LinkedIn to bolster their online presence, but the utility of any online platform can wane quickly as potential clients and referral sources move on to other alternatives. There’s a lot of […]
As more and more of our professional interactions move online and the number of emails we receive on our smartphones continues to mushroom, law firms that serve businesses and other entities need to devote more resources to creating engaging content. The bar is higher now than ever before as law firms, HR and accounting firms, […]
Too many lawyers have the misconception that flat fees are only appropriate for small, simple matters such as basic wills and trusts or entity formation. There is, however, a much broader range of work where flat fees are appropriate. Flat fees should be considered when one of the following factors is present: The value […]
On March 10, the American Bar Association’s Standing Committee on Ethics and Professional Responsibility published Formal Opinion 498 permitting the virtual practice of law. A year into pandemic shutdowns which included the widespread closure of courts and law offices, this is unsurprising. With much of the industry forced to practice remotely during this period, it’s […]
According to a report from Clio entitled “Legal Trends for Solo Law Firms,” revenues for solo law practices fell by 5-7% more than those of larger firms at the start of the pandemic (April-June 2020). In covering the report, ABA Journal fails to recognize the limitations of solo practices more broadly. Even in the best […]
Thomson Reuters’ Peer Monitor Index, issued earlier this month, draws attention to the root of the strong profit growth with which law firms ended a turbulent year. With some practice areas, including corporate and tax work (as well as bankruptcy) experiencing around 4% growth or more, reduced demand in areas like litigation was partially offset. […]
Traditionally, consumer-facing law firms have paid much more attention to online reviews on places like Yelp and Avvo than their B2B counterparts. But even firms that cater to businesses should be thinking about their searchability online. Potential clients may not be looking for directions to your office right now, but they are still using Google […]