I’ve been reading Toby’s last two posts about the questionable financial state of law firms (The Fall of the Legal Cartels? and Warren Buffett Puts Another Nail in the Law Firm Coffin) and wondering to myself “Come on Law Firm Management, do you really not see your future? Do you really not get
Warren Buffett Puts Another Nail in the Law Firm Coffin
Warren Buffett, the quintessential capitalist, was recently quoted:
“[t]he single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by
The Fall of the Legal Cartels?
In chatting with my boss / colleague / mentor about the economic state of the legal industry, we stumbled on an interesting analogy. We were discussing the recent CT TyMetrix Real Rate report and the fact that the number one driver of differences in billing rates is a lawyer’s location. We concluded that law firms
NARA to Abolish the National Archives Library – What Happens to the Collection?
[Note: There has been an update on the status of the Archives Library that says that they will not be abolishing it. Please see the ALA Update.]
The Archivist of the United States (AOTUS), David Ferriero, wrote that the National Archives and Records Administration (NARA) is facing a funding situation where they are
Would You like Fries with Your Merger Agreement?
It seems reality continues to encroach on the practice of law. Announced this week in the UK is “a bid to create the first solicitors franchise.” The idea is to create a standard platform of back-office systems and services and then franchise that out as a law firm platform to different locations and markets. The
Dewey B Strategic Blog Comes Out Swinging on “Vendor Sourcing”
Big firm Library Director, Jean O’Grady, launched her new blog “Dewey B Strategic” yesterday, and immediately went after the inefficient processes of legal publishing vendors and says that it is time to shift those costs back to the publishers. Anyone that has ever talked with O’Grady knows that she’s not afraid to step
PSLs in the US – A Way Forward
[Note: This is part three of a three-part guest-series on Practice Support Lawyers (PSL) and the emergence of PSLs in the United States from our guest-blogger, Ian Nelson.]
PSLs in the US – A Way Forward
So how should US firms adapt and refine the PSL model? The UK experience has shown that
Elephant Post: What Mobile App Do You Use For Work?
We’ve all probably sat through those “60 Apps in 60 Minutes” programs at a conference and watched as a bevy of applications flew past us on the screen. Those are cool, but what how many of those do we actually use when we get back to our office? So, we’ve asked you to share with
“The Game” Is What Happens When a Law Firm and a Video Game Developer Hook Up
Yesterday, I was skimming through my RSS reader and came across the post from Thomson Reuters’ Legal Current blog entitled “The Game” stuns attendees at legal marketing awards program. The more I read and watched, the more my mind was blown. The folks at Legal Current do a great job of describing, in detail,
PSLs in the UK – A Brief History
[Note: This is part two of a three-part guest-series on Practice Support Lawyers (PSL) and the emergence of PSLs in the United States from our guest-blogger, Ian Nelson.]
PSLs in the UK – A Brief History
The PSL role first appeared in the largest UK firms in the early 1990s. These firms gradually