Law Practice Management

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    • 9 May 2019

    "Hold on. Let Me Text My Lawyer Real Quick."

    Are Pocket-Sized Legal Services a Sustainable Way to Meet Legal Needs? In access-to-justice circles, it is well known that 80 percent of legal needs go unmet, meaning that every lawyer in the U.S. only services one out of five legal issues they are presented; the rest go unresolved and can end poorly for those who go unrepresented. Many people with moderate-to-low incomes assume that lawyers are out of reach due the ...
    • 23 Apr 2019

    The Sustainability of Midsize Firms: Surviving the Big Law Invasion

    Over the last decade, small and midsize law firms have grappled with industry consolidation—primarily Big Law firms moving into their neighborhoods. According to data from Altman Weil, there were 106 law firms acquired in 2018, and overall the year saw a record pace for Big Law mergers. A whopping 80 percent of firms acquired were those with less than 20 lawyers—small law firm acquisition has long been a common ...
    • 15 Apr 2019

    Product Spotlight: Lexis Analytics™ Suite

    DATA-DRIVEN SOLUTIONS TO LEGAL ISSUES Artificial intelligence (AI), machine learning, predictive analytics, big data—those aren’t buzzwords. They’re real technologies that are helping law firms, lawyers and other folks in the legal profession gain unprecedented data-driven insight into their research. At the center of these new legal technologies is the Lexis Analytics™ suite, a powerful set ...
    • 15 Apr 2019

    Product Spotlight: Lexis Advance®

    A POWERFUL WAY TO CONDUCT ONLINE LEGAL RESEARCH Nobody ever said a lawyer’s work is easy—which is why it’s critical to use the right legal research tools to help you conduct thorough legal analysis, answer legal questions and increase productivity. But what tools work best for lawyers? By relying on the massive LexisNexis® digital database of case law, you can use the powerful search engine technology ...
    • 10 Apr 2019

    The Pros and Cons of Practicing Law at a Coworking Space

    As coworking spaces have increased in popularity and number over the past few years, more and more attorneys have decided to house their offices in communal office spaces. Coworking spaces provide several unique benefits to attorneys, but also present a few challenges for practicing law that attorneys should consider. Is a coworking space a good option for your legal practice? Let’s examine some of the pros and ...
    • 27 Mar 2019

    Fairchild Morgan Law: Big Law Expatriates Find Their Niche Catering to the Corporate Law Needs of Midsize Companies

    In November 2018, two Big Law expatriates who left their top-tier law firms years ago to hang their own shingles joined forces to create Fairchild Morgan Law , an eight-lawyer boutique firm with offices in Chicago and Milwaukee. The firm was created by a merger between Fairchild Law Offices, LLC and Morgan Legal Group, LLC. Jessica Fairchild launched her eponymous law firm in 2010 after leaving her post as a corporate ...
    • 13 Mar 2019

    Law Firm Subscription Models: A Potential Solution to an Age-Old Problem

    It’s no secret that hourly attorney fees can drive costs through the roof for any business, particularly for small businesses or startups. Unfortunately, no matter the size of the company or its wallet, running a successful business free of legal headaches will eventually require the use of formal legal expertise. The main issue for these small businesses is cost predictability and fees that often exceed budgetary ...
    • 13 Mar 2019

    Accounting 101 for Solo, Small and Midsize Firms

    During those long days in law school, you may have kept yourself going by imagining yourself in action as a lawyer—negotiating deals, examining witnesses, perhaps even nabbing that corner office. It’s unlikely that at any point in the process you imagined the glamour of going over the accounting statements at your solo, small or midsize firm. It is not, in fact, a glamorous task. It’s not a subject they ...
    • 6 Mar 2019

    Taking Analytics to Court

    Technology advances are driving a higher form of litigation intelligence The challenge—and opportunity—of exploding data volumes is everywhere, and the legal arena is no exception. Huge quantities of potentially case-making data are spread across disparate and disconnected sources: case law, court records and dockets, regulatory content, public records and more. There is so much unstructured, unconnected ...
    • 25 Feb 2019

    Eight Factors That Affect Personal Injury Settlements

    How much is a broken leg worth to you? Not exactly a comfortable question, is it? Nevertheless, attorneys who represent victims in personal injury cases have to grapple with those kinds of issues on a daily basis. Calculating personal injury settlements is far from an exact science. Although there’s no foolproof formula, understanding the factors that tend to affect the value of personal injury cases can help ...
    • 23 Jan 2019

    7 Summary Judgment Survival Skills by Jim Wagstaffe

    In federal and state court cases, the litigator’s survival kit frequently has as its principal tool motions for summary judgment. For defendants, the winning case strategy frequently involves executing the summary judgment escape plan to survive the costs and risks of litigation. Conversely, for plaintiffs, “staying alive” for settlement and trial is quite often all about surviving the inevitable defense ...
    • 15 Jan 2019

    Innovation - We Need You

    Over the last decade, we have experienced some of the greatest technology innovations in history. Apple launched this technology phase with its all-in-one product, the iPhone ® , completely revolutionizing the way consumers think of mobile phones. They were the first to create and market a product as a necessity, catapulting the success of their brand. After the iPhone ® came applications (known as apps) hosted ...
    • 9 Jan 2019

    How to Draft a Law Firm Business Plan

    Law firms are something more than a business. Law firms and the lawyers within them are engaged in a profession, with obligations that go beyond purely commercial concerns. This truth can obscure the need for lawyers to pay attention to the business management side of their practices: their finances, marketing plans, business development efforts, IT purchases, lease terms and capital needs. For the highly trained lawyer ...
    • 19 Dec 2018

    The Lawyer of the Future

    You know that common New Year's expression, "new year, new me"? Imagine if that didn't have to be just a bunch of motivating self-talk but was actually a well-thought business strategy. As we begin the new year, think about what you can do to improve your career. Often, people will tell you to become more efficient, organize your schedule or take on a challenge to push your boundaries. While these are ...
    • 18 Dec 2018

    Data Privacy: How to Keep Current with Data Security Laws and Regulations

    How do you handle the privacy and data security issues for your firm and your clients? How do you stay abreast of the myriad rules and regulations governing data security and cybersecurity problems? Are cybersecurity attackers and data breach specialists winning the cybersecurity war? According to IBM's sponsored 2018 Cost of a Data Breach Study by Ponemon Institute , "the global average cost of a data ...
    • 28 Nov 2018

    Five Tips for Starting Your Own Legal Blog

    The fine art of blogging has been around in some form or fashion now for decades. While the basic elements of a blog have remained consistent over time, blogging’s raison d’être has evolved. What began as a vehicle for screaming into the void of the internet has taken on a host of functions. Some bloggers have turned their hobby into a lucrative writing career. Meanwhile, many businesses have discovered ...
    • 21 Nov 2018

    Three Money-Saving Tips for Solo Practitioners

    If you are a solo practitioner, the amount of money you earn is dependent solely on your own efforts. There’s freedom in that reality—and a challenge, too (not to mention a fair bit of fear). If you aren’t satisfied with the amount you are taking home, it’s on you to change things. The first step in doing so is getting a handle on the economics of your law firm. Two of the most important numbers ...
    • 7 Nov 2018

    Assessing Legal Tech Tools: Litigation Management Considerations for Small Law

    These days, it seems a new legal tech company emerges every week, with new entrants coming on the market in droves, all claiming to offer the “best” solutions for lawyers. Small law firms are in a strong position to innovate and adopt technologies aimed at improving the bottom line, but, as in any crowded market, it’s up to the buyer to evaluate and separate the best from the rest. Among the most daunting ...
    • 23 Oct 2018

    David Joins Goliath: Is Your Small Law Firm Ready for a Merger?

    Over the last few years, law firms have merged in record numbers, and 2018 has been no exception. The trend has been most prevalent in Big Law, but also holds true for small law firms seeking to expand their footprint and maximize resources through combinations with midsize and large firms. Altman Weil MergerLine™ tracker reveals that small and midsize firms continue to attract Big Law suitors, as the legal industry ...
    • 22 Oct 2018

    Six Budget-Friendly Marketing Tips for the Small Law Firm

    So, you’re a skilled lawyer working for a small (or solo) law firm - though it may be tempting to assume your reputation or skill alone is enough to attract a strong client base, don’t be fooled. As with any business, a good marketing strategy is paramount to success. Though small firms may not have the luxury of dedicated marketing departments, your business does not have to be daunting or expensive. Below ...
    • 15 Oct 2018

    Five Podcasts for Solo and Small Law Practitioners

    Running a solo law practice or small law firm has its perks and challenges—and for all lawyers, time is sacred. From attracting new clients to knowing the latest technologies and best practices in law firm hiring, a number of resources exist. But who has time to read? Podcasts have grown in popularity due to their ease of consumption and the flexibility they offer to listeners. If you’re looking for tips and ...
    • 12 Oct 2018

    Four Rules for Gracefully Leaving Your Small Law Job

    You’re an attorney working for a small law firm, but you recently accepted a new position elsewhere. Whether you’re making a lateral move to another firm or quitting law firm life altogether, bowing out tactfully will do you favors many times over in your future career. So how do you handle the impending breakup? Below are four rules for quitting a small law firm career gracefully— and making a positive ...
    • 10 Oct 2018

    Five Events Solo and Small Law Firm Lawyers Should Attend

    Most small or solo firms have learned to be efficient with both time and money: with less capital to spend on marketing activities than bigger firms and limited time to invest in attending important industry conferences, lawyers have to be selective and strategic about where they spend their time and money. With so many legal conferences to choose from it can be difficult to narrow down which ones will deliver the best ...
    • 3 Oct 2018

    How Attorneys Find New Clients - Five Tips to Grow Your Client List

    A lawyer is often confronted with a proverbial mountain of casework as part of their day-to-day workload. While tackling those jobs is important, the need for generating revenue through new business is still an integral part of a successful practice. So how does an already busy lawyer search for new clients? The answer, of course, resides in efficient use of tools and time. Here are five tips that can help you sign ...
    • 20 Sep 2018

    Five Tips for Setting Your Law Firm's Fees

    Like any professionals, attorneys have a wide variety of options when it comes to determining how they are paid. Whether they choose to charge clients on an hourly basis, take flat fees or use some other compensation arrangements, how a law firm sets its prices can have a dramatic impact on the success of its business. In fact, some firms are looking to legal-industry pricing specialists for guidance on their fee schedules ...