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| Image [cc] doni19 |
Apple gets a lot of flack for creating a closed platform that economically locks its users into their products. After all, if you’ve already spent $200K on iOS apps, why would you switch to Android or Windows phones or tablets and have to repurchase all of that software? It’s a reasonable argument, but it totally
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| image [cc] Andrew Mangum |
Following on the heels of recent posts on the market value of BigLaw and the behavior of partners as workers, we explore the merge-point for those two topics in discussing partners as equity owners.
The market refers to the owner level of law firm partners as “equity partners.” After giving
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| Image [cc] StockMonkeys |
Some recent activity on Twitter got me thinking. People love to bag on BigLaw (me included). Much like taking shots at Microsoft or Blackberry, BigLaw is an easy target for many. Large firms move slow, are managed by committee too often, and appear to have an aversion to decision making (see how
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| image [cc] KevinLouage |
Answer: Zero
An old economics adage is that the value of anything is the price someone will pay to purchase it. Therefore the market value of any large law firm will be zero.
When valuing a company for a potential purchase, buyers will determine the various assets held by the target,along with
The popular series on Growth is Dead from Bruce MacEwen at Adam Smith Esq blog is now available in e-Book form.
Bruce brings insightful information and commentary on the state of the legal profession and how it can adapt to the changing market. He peels back the layers of the economic forces pushing the legal market in to new
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| Image [cc] loungerie |
I have previously called out 2012 as The Year of Pain for law firms. The basic premise is that market demand is flat (per the many market reports) and that firms have run out of cost cutting ideas, such that costs are rising (also per the many market reports). The
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| Image [cc] cliff1066 |
The recent Ark-group KM conference left me with a new thought on why law firms have rewarded hours to the exclusion of so many other worthwhile metrics. This new thought is a new dimension on the challenge. The old arguments stand, however, taken from another angle:
Partners think like workers, not owners.
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| Image [cc] ell brown |
An article on a recent PWC survey of UK law firms caught my eye. So I dug into it. The title “Top 10 UK Firms Use Int’l Growth To Grab Huge Revenue Slice” gave me the impression these firms were doing well by growing in international markets. So the questions for me were:
