Legal Business

Recent Posts

LexisNexis Business Solutions Webinars: Do You Have an Alternate Fee Arrangement Solution?
Posted on 12 May 2010 by Legal Business Community Team

The 9th Annual Chief Legal Officer Survey (2009) shows more than 40 percent of CLOs require outside counsel to provide AFAs to help ensure legal cost certainty. Do you have an AFA solution to meet your customers' needs? Or is your current AFA solution... Read More

Lawyers Rethink 'Billable Hours' in Down Economy
Posted on 8 Mar 2010 by Legal Business Community Team

For the graduating law class about to embark on a career that lives and breathes in six-minute increments, Stephen Ellis had an unusual message. The commencement speaker at Case Western Reserve University Law School told students that a mainstay of the... Read More

What every lawyer needs to know about project management, Part 1 of 5
Posted on 24 Mar 2010 by Jim Hassett

This five-part series is an expanded version of an article I published last week on AmericanLawyer.com entitled "Teaching Lawyers How to Manage: Can It Improve the Bottom Line?" When I interviewed AmLaw 100 chairmen, senior partners and C... Read More

A Qwest for fair billing arrangements – four arguments against fixed fees
Posted on 22 Mar 2010 by Rees W. Morrison

Richard Baer, general counsel of Qwest Communications, recently made several points against fixed fees. He gave four reasons for his opposition to them in an interview by Corp. Counsel, March 2010 at 18. His points don't persuade me. Baer begins... Read More

Legal Project Management (Part 6) – Budget problems and solutions
Posted on 28 Apr 2010 by Jim Hassett

Many lawyers believe that it is simply not possible to predict the costs of complex legal matters. As the managing partner of a firm with more than 1,000 lawyers put it in The LegalBizDev Survey of Alternative Fees : [Some] litigators say [a fixed... Read More

Why project management is becoming increasingly important to law firms
Posted on 21 Jul 2010 by Jim Hassett

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... Read More

On Adam Smith Esq. and “Good Enough”
Posted on 5 May 2010 by Steven B. Levy

A recent Adam Smith, Esq. column raises the critical question around "good enough" cost-limited legal work : What happens when something goes wrong? He titles it The Coming Debate Over Defining "Quality." I think it's a debate... Read More

Risk collars: A great way to start offering alternative billing
Posted on 3 Mar 2010 by Jim Hassett

Whenever I give speeches about alternative fees, lawyers who are just starting to consider this approach are fascinated by the idea of risk collars. These arrangements are essentially the same as hourly billing, with one giant exception: risk collars... Read More

The Revenue Impact of Alternative Fees (Part 1 of 2)
Posted on 2 Mar 2010 by Jim Hassett

Last month, Of Counsel, the Legal Practice and Management Report, published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This... Read More

The Revenue Impact of Alternative Fees (Part 2 of 2)
Posted on 2 Mar 2010 by Jim Hassett

Last month, Of Counsel, the Legal Practice and Management Report , published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This... Read More

Alternative fee strategies (Part 2 of 3): Conservative risk avoidance
Posted on 13 Oct 2010 by Jim Hassett

This three-part series is reproduced from the LegalBizDev Survey of Alternative Fees , a research report based on in-depth interviews with chairmen, senior partners and C-level executives at 37 of the largest law firms in the US. More conservative... Read More

A Radical Future For The Legal Industry?
Posted on 14 May 2010 by Martindale-Hubbell Connected

Rory Webber, Martindale-Hubbell Connected's Marketing & Community Development Manager interviews legal journalist and MH Connected member, Richard Parnham. In today's difficult economy, many law firms are focusing on how to survive over... Read More

More On The Reality of Alternative Fees
Posted on 19 May 2010 by Tom Kane

During Jackson Lewis ' annual corporate counsel conference, as reported in The National Law Journal and on Law.com's Small Firm Business , alternative fees are "putting down deep roots." This got my attention, because although there... Read More

An Interesting Point in Support of AFAs
Posted on 3 Mar 2010 by Steven B. Levy

Anthony Tijan's article in the Harvard Business Review about bundling services and goods goes on to make an intriguing point about Alternative Fee Arrangements (AFAs): "I remember receiving a legal bill that carefully showed the breakdown... Read More

In-house lawyers admit some resistance to alternative fee arrangements, but blast law firms, perhaps unfairly
Posted on 9 Apr 2010 by Rees W. Morrison

A survey of corporate lawyers conducted by Serengetti asked them to scale their own resistance to alternative fee arrangements (AFA) and their perception of law firm resistance to AFAs. On the scale given, a 1 means "no resistance"; a 3 presumably... Read More