Sentences with phrase «conventional law firm business»

Outsourcing is potentially disruptive to conventional law firm business models because it can be done by in - house legal departments themselves, bypassing the law firms entirely (Rio Tinto, for example).

Not exact matches

By conventional measures, the world's top law firms are some of the most profitable businesses on earth.

But most of them willingly pay for the 20 to 40 % waste inherent in the conventional prevailing law firm's business model — with its hourly billing and «leveraging» of charges for inexperienced lawyers» work.

The central defect of conventional prevailing law firm and in - house offerings is that you — the client's generalclient company's owners and executives management — of the client business is have been precluded shut out of — beforehand — from the most basic compensation, and workflow, and staffing decisions in legal and regulatory compliance.

Unfortunately, as Mike clearly illustrates, even if the advice is theoretically correct for a conventional business, it is unlikely to work for a professional services law firm.

A recent global research study by Deloitte concluded that conventional law firms are no longer meeting today's business needs.