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To determine the financial stability of a law firm, how far should legal departments inquire?

When coalescing its group of outside counsel into a smaller number of primary firms or selecting a firm for a multi-year commitment, a law department rightfully wants to select firms that are financially solid, that will prosper during the term of the agreement. That desire prompts questions in the Request...

The Revenue Impact of Alternative Fees (Part 1 of 2)

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 post reproduces the first part of the article....

The Revenue Impact of Alternative Fees (Part 2 of 2)

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 post reproduces the second part of the article...

What every lawyer needs to know about project management, Part 1 of 5

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-level executives for a recent survey of alternative...

What every lawyer needs to know about project management, Part 4 of 5

If we lived in a perfect world with unlimited resources, no one would need project managers. But here on Earth, resources are limited and managers are constantly forced to make difficult choices. For example, when computer programmers develop a new product, no matter how good the product may be, someone...

Legal Project Management (Part 6) – Budget problems and solutions

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 fee] just doesn't work at all, because who knows...

More On The Reality of Alternative Fees

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 has been much written about the subject including...