Archives: Law Firm Economics

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The Edge International 2012 Global Law Firm Partner Compensation System Survey

“There is a significant difference among countries in what law firms take into consideration in setting partner compensation.” – The Edge International 2012 Global Partner Compensation System Survey   ‘   “There is a significant difference among countries in what law firms take into consideration in setting partner compensation.” –  Edge International 2012 Global Partner … Continue Reading

A Low-Paid Corner — Stripping Pay and Prestige from the Practice of Law

According to NYT journalist, Catherine Rampell, in her May 23, 2011 story: At Well-Paying Law Firms, a Low-Paid Corner,   Orrick, Herrington & Sutcliffe,  WilmerHale and McDermott Will & Emery are "creating a second tier of workers, stripping pay and prestige from one of the most coveted jobs in the business world". Catherine goes on to … Continue Reading

Finding Success in a Global Paradox (Keynote ALPMA Sydney 22 Oct 2010 — Password Protected — registered participants only)

  Download by clicking on image or HERE  Registered participants were provided with Password in session.… Continue Reading

Around the World Speaking Tour (Gerry Riskin — Edge International)

SEPTEMBER 2010 September 24th, 2010 ADR Institute of Canada National Conference September 23-24, 2010 Plenary Session: Optimal Marketing for ADR professionals Workshop: Effective Marketing for ADR professionals Calgary, Alberta OCTOBER 2010 October 9th, 2010 Fordham Law School (for Prof Silvia Hodges) Guest Lecture: Law firm management: Strategy New York, New York October 14th, 2010 (with Nicole … Continue Reading

Welcome to Edge International, Pam Woldow !

My Edge International partner, Jordan Furlong, has done a nice welcome piece on Pam Woldow already (at his Law 21 blog) but I thought I would echo that Edge International is so very proud and delighted to have her on board. Also, thank you to friends who have joined us in congratulating Pam, like Valorem’s awesome founder, … Continue Reading

Bold Move by CMS Cameron McKenna: “pay what you think its worth” option

Speaking of bold, CMS Cameron McKenna has a pricing team!  (See page 14 of their brochure, The future of fees: your route map to value.) Punchline:  CMS Cameron McKenna has 122 Equity Partners and employs over 1,000 fee earners in 10 offices.  They are big enough and influential enough to be a tipping point in … Continue Reading

SECURITY — a lucrative future-oriented practice area awaiting your firm

Greg George, Managing Partner of top security firm GTI Advisors Threat Management Practice Group has created a comprehensive due diligence report — among his many recommendations, he suggests that businesses consult a law firm  – is your law firm ready to answer that call?  SECURITY may be a lucrative future-oriented practice area awaiting your firm. … Continue Reading

Think Pink ! Motivators More Powerful than Money (revisited)

This clever animation may reinforce Dan Pink’s message from his new book Drive.  Compensation has been the tool of choice in law firms to reward good performance, punish the absence of it and drive change. You will not want to believe what you are about to hear and see…  ask yourself why? If you are … Continue Reading

Great Lakes Law Firms – Legal Market Analysis Now Available

If your firm has offices in the Great Lakes Region (or is thinking of expanding into it) there is an unprecedented and unmatched comprehensive analysis available: “2010 Legal Market Analysis Great Lakes Region” The report contains: 115 pages of detailed factual competitive intelligence 126 charts, graphs and illustrations 8 States and 10 Metropolitan Areas Information … Continue Reading

Valorem’s Nicole Auerbach in TOP 50

Nicole Auerbach is one of the adventurous Big Firm refugees that founded Valorem, a genuine "Alternative Billing Arrangements" firm.  Here’s a quote from Nicole’s bio: The billable hour is an antiquated, inefficient and a potentially unethical measure of value provided. To be named one of the Top 50 Women Lawyers in Illinois in the 2010 … Continue Reading

Edge International proudly annouces Jordan Furlong

It is a proud day for all of us at Edge to add such a distinguished partner.  After law school, Jordan articled with one of Canada’s leading law firms and then opted for a career in legal journalism culminating with more than 10 years as editor-in-chief of the Canadian Bar Associations distinguished well respected National … Continue Reading

Motivators More Powerful than Money?

I believe in capitalism and free enterprise.  I have a business degree before law.  My practicing years were spent helping clients increase their profits… managing partner years helping my partners increase theirs.  You’ll get no socialistic psychobabble from me. I encourage you to assimilate the compelling evidence that increasing compensation in the hope of enhancing performance actually backfires.  … Continue Reading

Managing Partners should have 3 priorities as confidence index drops to record low

From the Sacramento Business Journal today: Law firm confidence index drops to record low Excerpt: Confidence in the economy among managing partners at large law firms nationwide hit new lows in the first quarter, according to the latest research from the Citi Private Bank Law Firm Group in New York City. I recommend three priorities … Continue Reading

When are you meeting with your Landlord

    Negotiating is a question of power. The Chicago tribune reported today that: Layoffs at Chicago law firms have sent a shudder through the commercial real estate market.   The article, Cutbacks at firms worry landlords, quotes Bill Rogers, managing director of commercial real estate firm Jones Lang LaSalle:   "I do have a … Continue Reading

Banks force troubled law firms to rethink structures

"[Law] Firms in financial ‘intensive care’ told to merge, divest or restructure as cash dwindles from accounts" OK, this is a UK story but so what!  What reason do we have to believe that law firms around the world will not encounter similar challenges (perhaps they already are but are keeping it between themselves and their bankers). This is … Continue Reading

How Optimistic Law Firm Leaders Might React to Wall Street

The image above is the core of the post of internet phenom, Rajesh Setty, in his post today at Life Beyond Code: Optimists and Pessimists – The big difference is.. Couple that with the wisdom of lawyer and legal profession provocateur, Patrick Lamb, in his post today: Silver Lining in Black Economic Cloud? in which … Continue Reading

Lehman Liquidation? Merrill Acquisition? Greenspan: “worst economy I’ve ever seen”?

Managing Partners, you may have a disaster plan for fire, perhaps for terrorism – do you have one for the economic train coming off the tracks? Listen (and watch) what Greenspan said yesterday Sept 14th (50 seconds) Punchline:  You are getting fair warning – are you acting on it?  This is not a time for … Continue Reading

Oh my Darling – 60 years!!!

Britain is facing “arguably the worst” economic downturn in 60 years which will be “more profound and long-lasting” than people had expected, Alistair Darling, the chancellor, tells the Guardian today in a story called: Economy at 60-year low, says Darling. And it will get worse Wall Street returns from vacation season to enter what is … Continue Reading
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