Archives: Law Firm Strategy

Subscribe to Law Firm Strategy RSS Feed

The Ascendency of the Law Librarian

In a keynote address delivered to the PPLIP (Private Law Librarian and Information Professional) Summit in Washington DC in July, legal analyst Jordan Furlong – a former colleague of ours at Edge International – predicted a promising future for law librarians. Reporting on the speech in Above the Law, Robert Ambrogi said Furlong predicts that as … Continue Reading

Only a Tiny Proportion of CEOs Are Women, but Women Score Higher than Men in Most Leadership Skills

In a June 2019 article in the Harvard Business Review (HBR), Jack Zenger and Joseph Folkman remind readers that the persistently low rate of representation by women in senior corporate positions makes no sense when it comes to actual leadership abilities and perceived competency. In fact, research conducted by Zenger and Folkman indicates that women consistently … Continue Reading

EY Expands Its Reach Even Further into the Legal Services Arena

In early April, Ernst & Young (EY) announced that it had acquired the legal outsourcing service provider Pangea3 from Thomson Reuters, increasing the intensity of the accounting giant’s assault on the legal services industry. Robert Ambrogi at Above the Law warns that the move “does not bode well for law firms.” Pangea3 was originally established … Continue Reading

If You Are Apathetic Toward Technology, General Counsel Will Fire You

A new report by professional services firm BDO USA suggests that more than 70 percent of in-house counsel “plan on leveraging technology in the next year to streamline legal operations” – and that outside counsel that are unable to adapt to the technology will likely be replaced. This information comes to us via an April 11, 2019 … Continue Reading

Big Four Continues Advance into Legal Space with World-Wide AI Legal Doc Review System

The Artificial Lawyer reports on another significant move by a Big Four accounting firm into legal territory with EY Law‘s installation of an AI document review system at its offices around the world. A February 9, 2019 post in The Artificial Lawyer states that “EY Law, which has over 2,000 lawyers across 81 jurisdictions, will … Continue Reading

QNBT: Extracting Real Value from Non-Billable Time

“Your billable time is your income; your non-billable time is your future.” – David Maister Non-billable time gets little respect* Many perceive non-billable time as something that can be conjured at will. Taking someone to dinner who may or may not be a qualified client prospect can be recorded as business development. Furthermore, that two-hour … Continue Reading

Lawyers Wise to Use Intelligence – Artificial or Otherwise – When Submitting Fees and Costs to Courts

A column by Robert Ambrogi published recently in Above the Law may attract the interest of legal professionals for its comic or its cautionary value – depending on the reader. Ambrogi details the reasons why, in November of 2018, Justice A.C.R. Whitten of the Superior Court of Justice in Ontario, Canada felt compelled to slice and … Continue Reading

The Big Four and The Legal Industry: Who Should Be Afraid?

A recent instalment of the podcast series LegalSpeak addresses the question of whether or not recent forays into the legal arena by the accounting industry’s Big Four actually comprise a significant threat to U.S. law firms. Nicholas Bruch, principal analyst at ALM Legal Intelligence, who has been looking into this issue deeply for at least two … Continue Reading

Ask Gerry Riskin: Should Corporate and Other Transactional Groups Spin Work off to Litigation Teams?

Client Question* While it seems to be a commonly held assumption that corporate and other transactional groups in firms spin work off to litigation teams (and that this is and should be the primary source of clients for litigators/trial attorneys), we aren’t finding any literature or research that supports this premise. Our numbers indicate the … Continue Reading

Are Your Clients Requesting Lawyers Based on Their Online Bios?

When lawyers first started creating bios of themselves for use in firm promotion, clients generally used them to choose a firm, or to check out who they’d be working with after the firm had made the assignment. However, Michael Rynowecer at The Mad Clientist warns that these days, clients are using attorney bios to assess … Continue Reading

EY, Proving Itself to Be a Leading Disruptor of Legal Services, Acquires and Expands Riverview Law Globally

Following the acquisition of Riverview Law by EY, a new entity named EY Riverview will expand the accountancy firm’s legal-services reach into the global marketplace. Riverview Law’s growth could lead to an increase in staff from its current 120 to as many as 3,000, to be located at offices around the world. In case you … Continue Reading

How Will US Law Firms Compete with International Firms Offering Equity Outside the Legal Profession?

Two recent, related articles announce the details of a $21m investment by growth equity investor Highland Europe in INCOPRO, a leading machine-learning brand and intellectual property protection business that was co-founded by the UK law firm Wiggin. INCOPRO will use the investment for “the development of its Talisman online brand protection technology to help businesses … Continue Reading

A Niche Law Firm Built on Blockchain

“Blockchain technology [has] captured the imaginations of startups, financial institutions and government agencies. Angela Angelovska-Wilson and Lewis Cohen are taking a gamble that the law is next.” So begins an article by Jason Tashea entitled “New firm looks to embrace blockchain technology ethos” that was published recently on the ABA Journal website. Tashea goes on to explain … Continue Reading

The Legal Profession Faces an Epidemic (And It’s not Bird Flu)

The Mad Clientist – the blog of the BTI Consulting Group – has diagnosed a growing epidemic among law firms: complacency. “Wishes do come true,” they write. “Legal spending is up. The existential crisis is over. And urgency is retreating as success is just a little easier to come by.” The result, they say, is … Continue Reading

Keeping “Innovation” Meaningful

Early this week, law.com published a list of seven firms that its editors believe have “moved the needle on innovation in 2017.” The leading-edge advances highlighted in the article make for interesting reading, and I encourage you to check them out. They include: Bryan Cave’s encouragement of associates to propose new technology applications that could benefit law firm … Continue Reading

Adaptability a Key to Lowering Project-Related Stress, Says Logistics Company CEO

If you have ever become flustered or agitated under pressure –  and who hasn’t? – you might want to read the profile of Franz-Joseph (FJ) Miller that was recently published on Inc. Miller is the founder and CEO of the time:matters Group, a “high-stakes logistics company” that prides itself on “perfect delivery, every time.” Kevin Dunn, who interviewed Miller for his podcast and the article, describes time:matters … Continue Reading

Microsoft’s Lawyers Told to Swap Billable Hours for Alternative Fee Strategies

According to an article on Quartz, Microsoft will require all of the law firms with which it works to move to a retainer or other billing approach for most legal matters, rather than billing by the hour, within two years. As the article points out, the billable hour may be traditional and standard procedure for … Continue Reading

A Fizzy New Niche for Law Practice?

A recent article in USA Today suggests that, in the same way that craft beers have transformed the face of beer production and sales in recent years, the manufacturing and retail landscape for soft drinks may be changing. Zlati Meyer writes, “[It  is] unique formulations that are at the heart of the growing segment of ‘craft soda,’ fizzy concoctions that … Continue Reading

Firm Shares Strategic Objectives with Clients and the Public

How many law firms have the courage to publish their strategy for their clients? At least one. The Drinker-Biddle Annual Report includes: Firm highlights, including deals closed and aggregate value since 2014 (225/$200B), new litigation matters (3700 plus), number of new partners (9), new associates (5) and many others; Strategic Plan, which sets out six objectives; … Continue Reading

Furlong Book a Must-Read for Law Firm Leaders

Jordan Furlong has been a professional colleague and close friend for many years. His passion for understanding the legal profession is unmatched. Perhaps that’s why he is in demand to speak to prestigious organizations and firms throughout the world. His new book, Law Is a Buyer’s Market: Building a Client-First Law Firm (available in print and Kindle versions) is … Continue Reading

The Successful Lawyer – Now Available on your Computer, Tablet or Smartphone

The Second Edition of The Successful Lawyer: Powerful Strategies for Transforming Your Practice is now available in both paperback and Kindle versions. Among the kudos the first edition of this book attracted was one from Tom Peters, the highly acclaimed writer on business-management practice and author of In Search of Excellence, who described The Successful Lawyer … Continue Reading
LexBlog