Sentences with phrase «firm business model»

26 August 2009 in BigLaw, Billable hours, Law - firm business model, Lawyers and lawyering, Value pricing Permalink

A year ago, the CFPB filed suit against the Hanna law firm essentially attacking the big collection law firm business model.

11 May 2011 in Billable hours, Hourly billing, Law - firm business model, Lawyers and lawyering, Practice management, Value pricing Permalink

Shen O'Carroll said the «elephant in the room» is the law firm business model.

In addition to the traditional sources of anxiety and depression noted above, current economic, technological and demographic forces are putting increasing pressure on the traditional law firm business model and lawyers themselves.

I see tremendous opportunity in the law firm business model itself, regardless of ownership restrictions and structures.

With the plethora of reports and blog posts of late whizzing around cyberland in relation to online legal document and service providers, legal innovation, the law firm business model and the future of the legal profession I reckon we're transitioning toward «two faces of the law».

In this post, we'll discuss how legal services are changing with the times, and how legal process automation will play a major role in the law firm business model of the future.

They were stunned to learn that others could understand, even explain, their law firm business model quite clearly.

As we all know, the traditional law firm business model has been under tremendous pressure to change (although many in the industry don't realize the full extent or urgency of the phenomenon, in my view), and change takes time in most law firms.

Under present regulatory conditions, the kind of corporatization suggested would represent a complete disruption of the current, traditional law firm business model.

Curo's practice management experts are thought leaders on law firm business model design and technology, and we're here to help.

Even so, as the large law firm business model has provided some of its attorneys with a lot more money than their predecessors, has it provided career satisfaction that contributes to overall happiness?

Across Europe, emerging disruptor law firms and alternative legal service providers are challenging aspects of the traditional law firm business model.

This will continue to be one of the most fundamental shifts in the law firm business model for the foreseeable future.

As this knowledge gap continues to close due to the widespread availability of legal information online, knowledge will gradually stop being the primary driving force behind the law firm business model.

Here's a law firm business model that's made to stick — combine running a law practice with a waxing salon, as Ocala, Florida family law attorney Ami DiLorenzo has done.

But, as you may know from our previous post about why the law firm business model is broken, billing for time doesn't scale (if you haven't read that post, you should probably read it before you continue).

Discounting in the face of on - going price pressure, however, is not a long term solution and requires a significant change to the law firm business model.

As a result of this transformation, the current law firm business model is becoming obsolete.

After a conversation with Thomas L. Friedman, author of the book, The World Is Flat: A Brief History of the Twenty - first Century, about whether some of what was in the book would apply to the legal vertical, Mark started Clearspire, a virtual law firm and legal services company that upended the traditional law firm business model.

Here's why the law firm business model is all wrong.

The current lawyer - owned law firm business model, with its rictus fixation on annual partner profit, produces unpleasant and undesirable lawyer behaviour all on its own.

Both the WSJ Law Blog andWired GC offer coverage here and here on a newly formed law student group, Law Students Building a Better Legal Profession, that aims to change the modern law firm business model to make it more sustainable and profitable.

A survey of private - practice lawyers, corporate counsel and law students found widely divergent views on the state of the legal industry and the future of the law firm business model.

are deeper problems that go to the heart of the prevailing big law - firm business model itself.

Released Thursday during a panel discussion in New York City on the future of the law firm business model, the LexisNexis - commissioned survey (executive summary) found that 71 percent of corporate counsel say that law firms are not doing enough to respond to the current financial pressures on their business model.

Methodologies such as lean six sigma and business process design have been utilized for decades in other industries such as manufacturing or consumer goods, but professional services, and particularly the legal industry, have faced unique challenges when it comes to utilizing these approaches in any meaningful way: culture, compensation and at its core, the law firm business model itself are often obstacles to success.

In fact it's a huge market opportunity for market savvy lawyers who are willing to be flexible about the traditional law firm business model.

Due to limitations in the law firm business model and constraints imposed by the ABA ethical rules, there is currently very little innovation taking place in the delivery of legal services.

MacEwen's post is interesting, but it leaves me wondering how long this large - firm business model can survive.

The point is, referrals are a major part of the law firm business model.

In this post, we'll discuss developments to the law firm business model as it relates to evolving technologies such as process automation via Client - service Chatbots and Document Automation apps, as well as non-technical industry growth in terms of gender equity in executive leadership.

At the end of the day, perhaps it's not discontent with the lack of meaningful work or work / life balance that will bring change to — or the demise of — the current large firm business model.

«Susskind comes down pretty strong on the U.S. law firm business model,» London writes, before he «then discusses why UK firms are more motivated to implement innovative client - facing KM tools.»

The standard law firm business model has not changed in centuries.

In other words, the traditional law firm operating under the traditional law firm business model is an inhospitable place for many, many lawyers — a place where their success depends not upon their skills as a lawyer but upon their abilities in areas in which they have no training, interest or aptitude, as well as upon their gender and the color of their skin; a place that requires them to sacrifice their personal lives; a place where they do not feel valued or fulfilled in their work; a place and where opportunities are denied to them and only a very small number can reach positions of success.

It's about changing the law firm business model in a way that works for lawyers and clients.

However, with the economy in a deep recession and the legal profession reeling from layoffs and structural changes to the law firm business model, is it realistic for lawyers to expect employer assistance in navigating the seemingly competing demands of their personal and professional lives?

So fixed fees, I guess, and a firm business model designed to support them.

However, with the economy in a deep recession and the legal profession reeling from layoffs and structural changes to the law firm business model, is it realistic for lawyers to expect -LSB-...]

The law firm business model is predicated on maximizing the productivity of its lawyers and staff.

She pointed out one of the major forces that is driving change in the law firm business model.

They can see much further into the future than most lawyers; they endure sleepless nights worrying about the storage and security of big data; and they are typically fascinated by the potential of artificial intelligence to disrupt the traditional law firm business model.

@ronfriedman: Consultant Ron Friedman comments on the future of law, knowledge management, legal technology, better process and firm business models.

ACC believes that many traditional law firm business models and many of the approaches to lawyer training and cost management are not aligned with what corporate clients want and need: value - driven, high - quality legal services that deliver solutions for a reasonable cost and develop lawyers as counselors (not just content - providers), advocates (not just process - doers) and professional partners.

If you are serious about preparing your practice for the next ten years, join a select group of ahead - of - the - curve lawyers like you who will reimagine the practice of law, rethink the way lawyers and clients work together, and retool their law - firm business models for the next decade — and demonstrate that innovative lawyer isn't an oxymoron.

Many law firm business models are based on an hourly billing structure — a certain number of hours must be billed and collected each year to satisfy overhead and profits for partners.

It will be interesting to observe where this consolidation takes us, and whether it opens up the possibility of other law firm business models.

A.B. Culvahouse, Reagan's former counsel «The focus on financial results is forcing rapid change in law firm business models as practice specialties become fee - sensitive.»