Sentences with phrase «traditional law firm structures»

I tried but wasn't able to figure out how to do this within traditional law firm structures because, candidly, the entrenched model of these structures presented too many economic and cultural impediments.

However, it becomes clear from reading the report that ABS had to show itself to be demonstrably better than traditional law firm structures.

Two of the most popular methods are 1) a completely web - based virtual law office providing limited scope representation to online clients or 2) a virtual law office that has been integrated into the practice management methods of a traditional law firm structure.

Year by year, the traditional law firm structure is going to have a tougher time justifying itself as a competitive business model, and only the highest of the high - end operations are going to be able to do that.

And all of those things allowed us to have a margin that was comparable to the margins of traditional law, but at the same time, at half the price of what our lawyers would be charging if they were operating under a different and more traditional law firm structure.

Not exact matches

This same corporate cohort is working with Diversity Lab to adapt the Mansfield Rule, which is law firm specific, to traditional corporate structures.

The traditional pay structure for rewarding non-equity partners in law firms is fundamentally unfair, out - dated and does not reflect the radical cost savings that can be made through the current technological revolution, says John Hayes of Constantine Llaw firms is fundamentally unfair, out - dated and does not reflect the radical cost savings that can be made through the current technological revolution, says John Hayes of Constantine LawLaw.

The findings also showed that the traditional law firm model is being challenged by alternative providers, with GCs having the freedom to choose the best legal provider structure for their needs

Law firm remuneration needs to be radically overhauled The traditional pay structure for rewarding non-equity...

A majority of legal IT leaders (57 %) believe that the traditional law firm partnership structure holds law firms back from investing enough in IT.

For example, a number of our team were equity partners in traditional law firms who were motivated to join us because of the failings they saw in the partnership structure, and we were one of the very few places that offered them a different structure.

By now most attorneys are familiar with virtual law offices, whether they are completely web - based or integrated into the structure of a traditional law firm.

That is leading to a shift in how law firms are structured, with many taking a sectoral approach to their client matters rather than the traditional practice group set up.

Third, the traditional business models and pricing structure are under heavy strain right now, but law firms tend to tweak their models in response instead of considering how competitive changes and the impact of innovations such as AI might impact in the longer term.

Tarlton's article focuses on four law firms that are reinventing the practice of law through delivering corporate services in unconventional ways, offering flat fees and other value billing models, eliminating vestiges of traditional law practice like a partner - associate structure.

At the same time, the Financial Times pointed to the continued consolidation of major law firms, predicting that we will soon see the emergence of the «$ 5 billion law firm» — itself a response to those growing pressures on traditional fee structures.

Consider that the law firm herd is already thinning and buyers are altering longstanding purchasing patterns in no small measure because law firm delivery structures and the traditional partnership model are no longer aligned with marketplace needs or expectations.

To distinguish firms that have nonlawyer owners or managers, or that engage in multidisciplinary practices, from traditional law firms and sole practitioners, the U.K. rules provide for a new kind of legal company, referred to as an alternative business structure.

Law firm remuneration needs to be radically overhauled The traditional pay structure for rewarding non-equity partners in law firms is fundamentally unfair, out - dated and does not reflect the radical cost savings that can be made through the current technological revolution, says John Hayes ofLaw firm remuneration needs to be radically overhauled The traditional pay structure for rewarding non-equity partners in law firms is fundamentally unfair, out - dated and does not reflect the radical cost savings that can be made through the current technological revolution, says John Hayes oflaw firms is fundamentally unfair, out - dated and does not reflect the radical cost savings that can be made through the current technological revolution, says John Hayes of...

Recent dispute in a high profile international law firm using traditional partnership structures.

Note About Terminology: A variety of terms are used to refer to organizations that are owned and / or managed by one or more nonlawyers and / or that are multidisciplinary practices (in other words, to refer to legal service providers that are not the traditional structures of either sole practitioner or law firm partnership).

Not only does this structure permit us to meet our founding purpose — namely, high quality work for substantially less cost — but it also accelerates our evolution into an exceptional national — and to some extent international — law firm that provides businesses, law firms and attorneys with a viable alternative to traditional opportunities.

To attract and retain these great attorneys — and do so through a model that greatly reduced client fees — we built the firm on a model that permits these attorneys to work from a position that support their life balance and from locations not possible in traditional practice settings and, at the same time, strips away overhead and fixed salaries that underpin a very large part of a traditional law firm's fee structure.

Following the lead of non-lawyer ILSPs, law firms can also move away from traditional hourly fee structures and instead «unbundle» services, charging a flat fee for limited services or document production.

First, law firms are not inherently different than other businesses that provide professional services and, second, law firms should, therefore, operate as corporations with a traditional corporate capital structure.

Regulated entities include traditional lawyer - owned law firms as well as «licensable bodies,» otherwise referred to as Alternative Business Structures or «ABSs.»

Does it — could it — also encompass structures, be they companies or other types of organizations, that are owned in whole or in part by nonlawyers, and that provide legal services outside the limited contexts of existing companies like the ones listed above, but in «nontraditional» manner such that it could be difficult to describe the structure as a traditional «law firm»?

I wrote previously that the traditional pay structure for rewarding non-equity partners in law firms is fundamentally unfair and out - dated.

Some additional distinctions between Liam Brown's «law company» and the traditional law firm include: (1) performance and reward structures that value output over input; (2) closer alignment with the financial and enterprise objectives of the consumer; (3) a corporate structure that takes a long - term, client - centric view over profit - per - partner; (4) continuous process improvement; (5) investment in technology; (6) focus on «the right resource for the task»; (6) compressed delivery time; (7) a continuous quest to use technology and process to automate tasks and gather «big data» for benchmarking, predicting, and quantifying risk; (8) a transparent, 24/7/365 accessible connection with legal consumers; (9) supply chain management expertise; and (10) reduced cost.

The group discusses Axiom's operational structure, gettingrid of the partnership model, the regulatory environment, and what the future of legal services in Canada looks like for traditional law firms, big and small.

He learned that he didn't enjoy criminal law or the rigid structure of a traditional law firm.

The findings also showed that the traditional law firm model is being challenged by alternative providers, with GCs having the freedom to choose the best legal provider structure for their needs In this article, Michael Siebold, Chair of Inter - law, will shed light on the way «New Law» mod - els are challenging the «Big Law» approach to give GCs this much needed depth and breadth they are seeking in legal providlaw firm model is being challenged by alternative providers, with GCs having the freedom to choose the best legal provider structure for their needs In this article, Michael Siebold, Chair of Inter - law, will shed light on the way «New Law» mod - els are challenging the «Big Law» approach to give GCs this much needed depth and breadth they are seeking in legal providlaw, will shed light on the way «New Law» mod - els are challenging the «Big Law» approach to give GCs this much needed depth and breadth they are seeking in legal providLaw» mod - els are challenging the «Big Law» approach to give GCs this much needed depth and breadth they are seeking in legal providLaw» approach to give GCs this much needed depth and breadth they are seeking in legal provider.

the Law Society of Upper Canada working group on alternative business structures issued a report advising that it «does not propose to further examine any majority or controlling non-licensee ownership models for traditional law firms in Ontario at this time» but it will continue to explore options for «more limited non-licensee ownership models.&raqLaw Society of Upper Canada working group on alternative business structures issued a report advising that it «does not propose to further examine any majority or controlling non-licensee ownership models for traditional law firms in Ontario at this time» but it will continue to explore options for «more limited non-licensee ownership models.&raqlaw firms in Ontario at this time» but it will continue to explore options for «more limited non-licensee ownership models.»

The firm was founded to serve clients by aligning its cost structure to their business and financial imperatives and to attract and mobilize experienced lawyers with an entrepreneurial mindset who are no longer fulfilled at traditional law firms.

Axess has a highly structured operating process and a limited scope / fixed - fee pricing model that has been seemingly purpose - built to scale well in the way most traditional law firms just can't.

● Clients are becoming more focused on their legal spend, and law firm structures will suffer with clients wanting more work by partners rather than associates --» the future of the law firm is not a pyramid» — a serious threat to the profitability of the traditional law firm model.