#law-firms

#law-firms

Most of us within the legal profession remember when many law firms permitted attorneys and staff to work from home during the COVID-19 era. For the most part, working from home did not impact law firm operations, and indeed, many law firms realized record profits during the pandemic. In recent years, many law firms have mandated that employees return to offices, perhaps due to old-school notions of collaborations, or perhaps since they don't want their expensive office spaces to go unused.

The economy doesn't move in straight lines, and oftentimes law firms feel every shift. Costs rise, clients hesitate, and financial decisions carry more weight than they used to.

More than 190,000 people work in an LLP, a structure that is very popular with lawyers. Partners pay income tax on profits as they arise, but they are considered self-employed and therefore do not pay any employer's national insurance. It would otherwise be levied at 15% on their income. Reeves is said to consider this unfair and is expected to levy a slightly lower rate on partners, according to government sources confirming plans first reported by the Times.

If an attorney chooses to publicly air controversial opinions, they can expect to get fired. Law firms are a business first, and if their public-facing professionals make statements that alienate clients or create the whiff of a hostile work environment, the firm can cut ties to protect its business. It's not a free speech thing, it's just business. That said, firing someone over their remarks is always a question of "coulda and shoulda."

Private practice lawyers were more than five times as likely as their in-house counterparts to choose hourly billing, while in-house counsel were more than twice as likely to choose value-based or outcome-driven pricing.

COOs perceive law firm partners as the primary barrier to change, indicating that partners disregard the improvement recommendations put forth by their COOs.

Tariffs implemented across various sectors are beginning to negatively impact client earnings, resulting in decreased profitability for businesses reliant on international trade and commerce.

"Alina Habba Is Named Acting U.S. Attorney in New Jersey; Ms. Habba's tenure as interim U.S. attorney was slated to end this week, but the Trump administration's appointment will allow her to remain the top law enforcement official in the state."

A&O Shearman has agreed to a $125 million pro bono initiative to conservative causes while pushing back the start dates for some associates in the class of 2025.

Karen Dunn, Bill Isaacson, Jessica Phillips, and Jeannie Rhee left Paul, Weiss due to its deal with Trump, aiming to establish a new law firm independently.

The loophole, known as a "managed services organization" - or MSO - allows non-lawyers to effectively own part of law firms through a second corporate entity.

While headlines have focused on the gap between the 31 percent with no plans for adoption and everyone else, the more pressing concern might be the 43 percent just winging it.

"The poor lawyer here who called a judge 'honey' during oral argument entered a spiral of no return, illustrating the risks of informal language in court."

Despite initial enthusiasm, support for Juneteenth celebrations among law firms has diminished amid shifting political climates, particularly with recent anti-DEI sentiments affecting initiatives.

"When the curfew was announced, I think we were most worried about the protesters' reaction to the announcement of the curfew, more so than the actual curfew itself."

Marketing drives attention. But intake converts that attention into action. Without a well-oiled intake system, even the most sophisticated marketing will bleed opportunity.

Many strategic plans collect dust, typically failing at the stage of implementation. That's often the case because of lack of buy-in by various stakeholders.

Every year, we publish a list of the top law firms in the country, and we're now collecting information for the 2025 edition.