New video: How to create a culture of innovation within a law firm
“Innovation can be a whisper, not a scream,” says Anne Stemlar, Managing Director of Knowledge Management and Research at Goodwin, in this new video from the Thomson Reuters Institute. It is not...
View ArticleNew podcast: A commitment to changing law firm recruiting
Diversity in law firm recruiting practices is a much-discussed topic, and rightly so. In this latest podcast on the Thomson Reuters Institute Market Insights channel, we speak to Elizabeth Robertson, a...
View ArticleCaptive law firm ALSPs provide potential growth engines
To dissect some of the key findings of Thomson Reuters recent 2021 Alternative Legal Service Providers report, it makes some sense to start small, meaning starting with the smallest segment of...
View ArticleNew podcast: The legal market in 2020 and beyond
Throughout the course of 2020, many stakeholders in the legal market found themselves seeking timely, accurate data to help guide decisions with a new fervor. The attention paid to the recent Report on...
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Serving those who serve, through Reed Smith’s RS Vets
The National Guard holds a unique place in the US military apparatus. As an extension to the already all-volunteer military, members of the National Guard not only serve their country in uniform, the...
View ArticleAlternative fee arrangements in the legal industry: Recognizing firms that excel
While the popularity of alternative fee arrangements (AFAs) seemed to have plateaued in recent years — at least in terms of AFAs as a percentage of law firm revenue — that does not mean that all, or...
View ArticleLaw Firm Partner Profits: What really stands in the way of profit growth?
Even before the onset of the global pandemic, law firms of all sizes were concerned about how to continue growing their bottom line into the future. For most of the decade following the Great Recession...
View ArticleHow will legal operations teams shape the “New Normal” for legal?
The “new normal” is something more to be guessed at than completely understood at this point, as there remains a high degree of uncertainty around so many facets of life. This holds equally true for...
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Law firm billing in a crisis: No time for a free-for-all
I’ve written recently about the need to be cautious about how your law firm approaches discounts to clients in crisis. The same pricing leaders from the Legal Value Network (LVN) who inspired that post...
View ArticleLarge law firms in LA band together to provide pro bono in a crisis
This year has brought no small number of crises and challenges to the fore, one seemingly on top of another — and hot on the heels of each new crisis is a raft of legal challenges. Lawyers, law firms,...
View ArticleTop performing lawyers excel by focusing on business savvy, say Acritas’...
Star Lawyers — those nominated by clients as stand-out attorneys in terms of their performance and the service they provide — deliver greater value to clients through excellent business savvy,...
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Forum magazine: Sharing ideas for how to become EQUAL in LEGAL
This article originally appeared in the Spring 2020 issue of Forum magazine. Lawyers thrive on evidence and precedent. This is nearly universally true, whether one is referring to how a legal matter is...
View ArticleWhat can lawyers learn about innovation from SpaceX?
Lawyers are not known for being particularly quick to innovate, particularly when it comes to client service delivery strategies like alternative fee arrangements or legal project management. SpaceX,...
View ArticleLaw firm billing in a crisis: Beware the optics of discounts
We are in a period right now where many clients, perhaps more than even during the Great Recession, are experiencing acute cash flow issues. As a consequence, law firms are feeling a distinct...
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Does Talking with Your Lawyer Make You Happy? It Can, but It Depends on the...
Like so many others, I’ve spent a good amount of time recently looking for examples of how the current crisis is changing how law firms do business and interact with their clients. One of these...
View ArticleRemote Work Checklists: Helping Your Law Firm’s Disaster Preparedness & Response
We are living in a time when it’s critical to respond to the crisis in front of us — but it’s also vital to prepare for what comes next. That means planning for business continuity, which in today’s...
View ArticleSmall Law Firms, Take Advantage of Your Agility in Times of Struggle
A lot of law firms are suddenly finding themselves treading water in uncharted territory. Courts are closed. Deals are on hold. Clients’ businesses are facing stoppages. That’s a lot to have to manage...
View ArticleIntersect 2020: Lessons from a Law Firm Pricing Master Class
MIAMI — Last week I was fortunate enough to attend the 6th annual meeting of the True Value Partnering Institute, which kicked off with an outstanding pricing master class put on by Kevin Doolan of the...
View Article2020 Report on the State of the Legal Market: From Incremental Change to...
Ever heard of the “Fosbury Flop”? Whether you have or not, if you’ve watched the sport of high jumping anytime in the past 50 years or so, you’ve likely seen it in action; it’s the current “state of...
View ArticleLaw Firms Feeling Headaches from Outside Counsel Guidelines, Struggling to...
For law firms and their clients, Outside Counsel Guidelines (OCGs) are simply a fact of life. More than 80% of corporations reported they use some form of OCGs to manage the work and billing practices...
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