This week's post comes from the preface to my new book . The preface starts by explaining how to use the book's tools and templates to improve profitability and client service, then transitions to the material below, explaining why project management is becoming a critical component of many firms'...
This series of posts is a slightly
extended version of an article that appeared in the July 2011 issue of Managing Partner magazine .
download a PDF of the published version of my article, click here.
Firms that are looking for more
affordable solutions sometimes start by focusing on the...
When I interviewed chairmen, senior
partners, and C-level executives from AmLaw 100 firms (in the LegalBizDev
Survey of Alternative Fees ), nine types of AFAs were reported most
Fee caps : In
a fee cap, hourly rates are charged up to an agreed maximum amount for a
Some law firms are going to large companies and offering to
do all their legal work for one fixed price, but the firms don't know how it
will work out in the long run. I suspect in some cases it will come out
This prediction was made in 2009, by
a senior partner from an AmLaw...
A few weeks ago, when I gave a
speech at the retreat of a 1,000 lawyer firm, a senior partner asked: "In
your experience, how do large firms determine costs?" I replied:
"Mostly, they don't. Until recently, most firms were making so much money
they didn't need to precisely...