Make More Rain : costs

Know Your Alternatives: Capped vs. Fixed Fees

RussHaskin — Wed, 28 Oct 2009 14:51:00 GMT

In previous posts I have referred to my preference to the fixed fee arrangement . In addition I have also commented that as firms are building their repertoire and gaining trust with clients, capped fee arrangements could be the answer, especially those...(read more)

Thoughts on the ACC/Serengeti Managing Outside Counsel Survey

MichelleStPierre — Thu, 22 Oct 2009 18:16:00 GMT

The 2009 ACC/Serengeti Managing Outside Counsel Survey , as reported at Association of Corporate Counsel's annual meeting this week in Boston , has some interesting notes which are relevant to what we've been blogging about lately: Predictability...(read more)

Bucking the Trend

MichelleStPierre — Wed, 05 Aug 2009 17:07:00 GMT

When I heard last night that casting is going on for Philadelphia's version of the Real Housewives series, "The Women of Rittenhouse Square," as a Philly resident, I thought to myself, "Do we have to repeat everything that is done in New York and North Jersey?"

From a purely economic perspective, better news was delivered today on the Law.com newswire in a summary from the New Jersey Law Journal on the NALP's annual salary survey. In line with the economic pressure on law firms, Philadelphia firms, along with firms nationwide, are expected to drop starting salaries for new associates.

...(read more)

Reducing Headcount May Lead to Less Profit in the Long Run

BrianTaaffe — Thu, 09 Jul 2009 18:00:00 GMT

Very few firms today are 100% utilized. Almost all attorneys within a firm have free capacity, and depending on the firm, this can be a large cost. With profits dropping, layoffs and delayed start dates for first year associates have been seen as a short term solution to increase profits. This may be an effective way to address utilization concerns and bring profits back up to levels that law firms have experienced over the last five years, but it may also have some long term effects related to production.

...(read more)