As law firms look for opportunities to grow revenue, there really is only once place to look: Down. By down I mean further down the food-chain of legal services. Most lawyers and firms like to hold themselves out as a unique brand: a brand worthy of only the highest levels of legal work.
Even
With great interest, I have been following Bruce’s series on Growth is Dead. Bruce brings a refreshing economist’s perspective to a bear on an important set of issues.
Apart from agreeing with him, I offer yet another economist’s perspective, taking on another dimension of this analysis. Back in the Spring, I dubbed 2012
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My good friend and blogging colleague Jordan Furlong suggested an intriguing idea while we were attending the ILTA Conference. We had started down a path on the sometimes taboo topic of timekeeping and the billable hour. Jordan takes the position that it should be abolished, freeing lawyers from the yoke of
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Recently Greenberg made a Capital Call to its partners. Of course, the market reacted with an expected “Is this the next Dewey?”
My thinking – that is unlikely. Looking beyond the Dewey angle, I think there is a much bigger issue looming here. The issue: The extreme limitations on the
For those of a certain age, the phrase “I read it for the articles” will resonate. Well … I was reading Above The Law this week and stumbled on a substantive article (since I read it for the substantive articles) on law schools. It was actually a thoughtful piece on how ABA accrediting standards have
At 3 Geeks, we have previously touched on the concept of Third Party Litigation Funding (TPLF) and its potential impact on the profession. Today we are fortunate to have Danielle Olofsson, a Knowledge Management Lawyer from Montréal Canada, bring us the Canadian perspective. This guest post highlights the continued evolution and growth of TPLF
In my role, I am fortunate to see the various market updates on demand, productivity and other key legal market stats. One fairly consistent stat over the past few years has been flat market growth (a.k.a. no market growth). Although there have been minor ups and downs on this stat (most recently a slight up-tick),
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In the past I have talked about how law firms have become profit-margin businesses versus their old cost-plus model. And I have alluded to the fact that associates and other non-partners are the source of margins and therefore profit. So I thought I would take a crack at modeling a single associate
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I always enjoy an interesting convergence of ideas. Recently three news items hit my radar that appeared unrelated, until I gave them each a second look and more thought. The first item was the release of the whitepaper from Reuters (of Thomson / Westlaw and Pangea3, the LPO). The paper is entitled,
I recently stumbled upon an alternative pricing scheme that I instinctively felt was wrong. The details are irrelevant, but I was struck by how vastly different the attorney’s point of view was from my own. So I tried to expand my viewpoint and to see the problem from all sides. I came up with three