Law Firm Profitability

Time & tide: New and evolving job roles in the legal profession

An increasing number of law firms are utilizing multidisciplinary teams to solve client problems. And while the traditional partner and associate roles are still critical…

Zorik Pesochinsky November 25, 2020

If not now, when? Small law firms need to improve their business development

There’s a good reason I have written extensively about why small law firms need to improve their business development acumen. Small law firm leaders themselves…

Mark Haddad November 23, 2020

New Video: Focusing on client-driven changes to law firm pricing

Cash flow is always a prime consideration for law firms, as they are essentially a cash-driven business with little in the way of reserve capital.…

Thomson Reuters Institute November 18, 2020

Law firm business leaders guarded on economy, bullish on the future, says new report

Law firms must be able to run effectively as a business. This has been true for a long time, and it has become all the…

Thomson Reuters Institute November 11, 2020

Collaboration is key to maximizing share of clients’ legal spend

Many law firms dream of gaining a larger share of their clients’ legal spend, especially during difficult economic times like the market is experiencing now.…

Lisa Hart Shepherd November 09, 2020

Amid the pandemic, Big Law gains back some ground, according to Q3 PMI

The large law firm market recovered some ground in the third quarter amid cross-currents of low demand, high rates, and reduced expenses. These competing and…

Thomson Reuters Institute November 09, 2020

The more things change… the state of US small law firms in 2020

Small law firms are agile, adaptable, resilient, and yet, hesitant to change. Or so it would appear from the results of the 2020 Report on…

Mark Haddad November 04, 2020

How to get more than your fair share of client spending

All successful law firms have one thing in common: The client base acts as the beating heart and the driving force for change. And the…

Genna Stainforth November 02, 2020

COO & CFO Forum: The legal industry is learning to do hard things

The COVID-19 pandemic and economic crisis that ensued has dramatically altered how law firms have done business over the past eight months, and law firms…

Gregg Wirth October 29, 2020

Meeting a lawyer’s need for psychological security: Why safety is more important now than ever

Almost everyone has heard of Abraham Maslow’s Need Hierarchy. It is a universal system of human striving, depicted as a pyramid with basic needs leading…

James Bailey October 28, 2020

Successful law firms protect productivity with savvy and strong teams, according to the 2020 Dynamic Law Firms Report

What drives a successful law firm? Often, the answer involves learning from the success of other law firms. Lawyers are steeped in a culture that…

Thomson Reuters Institute October 22, 2020

Leveraging the cloud in the time of COVID-19: Stories from the storm front

COVID-19 and the social distancing requirements created by the ongoing pandemic forced law firms and legal organizations to re-engineer themselves and find new ways to…

Conrad Jacoby October 20, 2020