In Part 1 of this series, we introduced the concept of tying Legal KM (LKM) closer to a law firm’s bottom line  We also introduced the concept of law firm profitability  In Part 2 we explore the first 2 (of 4) profit drivers for firms: Rates and Realization

The Profit Drivers:

Rates

Although obvious, the point needs to be made. Billing Rates

For my role in the 2012 Ark-group KM Conference, I am talking about the economics of the practice of law to set the stage for how KM can better align itself with the bottom line. This series is from my materials for that conference. The first part describes the challenge for Legal KM and then moves to the economics – specifically talking

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