LexisNexis® CLE On-Demand features premium content from partners like American Law Institute Continuing Legal Education and Pozner & Dodd. Choose from a broad listing of topics suited for law firms, corporate legal departments, and government entities. Individual courses and subscriptions available.
With all of the reporting capabilities of sophisticated time and billing systems, it is easy to lose sight of the most basic rule of law firm economics: Cash in must exceed cash out. To that end, one of the most valuable assets any business can have is a cash cow. Yet, many law firms never benefit from practices that could be cash cows because they just don't seem to understand the concept. It sounds pretty simple -bleed as much revenue as you can out of practice areas in which your firm has a dominant position. But, somehow, they keep screwing it up.
Read the full article.