Sentences with phrase «average law firm profitability»

Not exact matches

Profitability reporting should be supported by ongoing and tailored education and training because many Partners do not truly understand the mechanics of law firm profitability and assume that if they are operating at or above the firm's average realization rate on their personal billing rates, they must be «profiProfitability reporting should be supported by ongoing and tailored education and training because many Partners do not truly understand the mechanics of law firm profitability and assume that if they are operating at or above the firm's average realization rate on their personal billing rates, they must be «profiprofitability and assume that if they are operating at or above the firm's average realization rate on their personal billing rates, they must be «profitable».

Profitability at the matter level can also be expressed in terms of the law firm economic model, in which profits equal the product of realization rate, average standard billing rate, leverage, margin and utilization.