#law-firms

#law-firms

Law firms are using AI in their practices, but the results are mostly mundane.

A shortage of prosecutors is causing problems for defendants. [ more ]

AI can enhance SEO strategies for law firms

AI-powered chatbots provide 24/7 support and improve client engagement [ more ]

Law firms are experiencing positive economic conditions as reflected in the Q1 2024 Thomson Reuters Law Firm Financial Index. [ more ]

A Biglaw firm in the top 100 has 89.2% non-equity partners, the highest percentage in the ranking. [ more ]

Firms prioritize price-insensitive work, antitrust sees surge with Sherman Act enforcement, Columbia boycott debated, ABA open to bar exam alternatives. [ more ]

Lawyers can strengthen client relationships by outwardly showing support for their clients through buying their products, attending events, and showing personal interest. [ more ]

Partnership tracks in law firms have evolved away from the traditional eight-year model due to ownership concerns and changes in employment benefits. [ more ]

Law firms struggle with data management leading to misaligned data.

Good data practices essential in law firms for accurate information.

Utilizing technology and data stewards crucial for successful data management in law firms. [ more ]

Law firms struggle with data management leading to poor quality data.

Using data stewards and technology can improve data management in law firms. [ more ]

Top firms excelling in client service identified by BTI Consulting Group.

The firms in the top 30 ranking performed significantly better in client service compared to typical law firms. [ more ]

Mergers and acquisitions valued at $10 billion or more have more than doubled in the first quarter of the year.

There is a surge in dealmaking activities globally with significant transactions across different sectors, indicating a strong M&A market trend. [ more ]

Paul Weiss has strategically grown its associate hiring over the past three years.

The firm has maintained a steady increase in lateral associates added annually, contrasting with other firms. [ more ]

BigLaw firm Kirkland & Ellis surpasses $7B in revenue for 2023.

Firms focus on metrics like revenues per lawyer and partner rather than just total revenue size. [ more ]

The nonequity tier of partnership at a Biglaw firm saw a 51% increase in 2023.

The firm mentioned had exceptional financial performance in the prior year. [ more ]

Freshfields implements four-day in-office work policy for fee earners starting May 1

Other law firms also adopting similar in-office work policies [ more ]

Advocacy for diversity is tied to actionable items

Law firms cautious about diversity advocacy due to fear of lawsuits and lack of implementation discussions [ more ]

Law firms in the United States leased a significant amount of office space in 2023.

The legal industry experienced a rise in commercial real estate space from the previous year. [ more ]

Lawyers at larger firms may not always effectively utilize resources for client service.

Assistance between lawyers in the same firm can be hindered by lack of incentive. [ more ]

Big-name law firms embracing two-tier partnership model.

Paul Weiss shifts to a non-equity partner tier to adapt to market competitiveness. [ more ]

Avoid common accounting pitfalls in small law firms

Get actionable tips to boost your law firm's bottom line [ more ]

Focusing on finances is crucial for law firms

Choosing the right technology for financial reporting is key [ more ]

Google Ads are a primary method for law firms in paid advertising.

Law firms often waste money on Google Ads. [ more ]

Time tracking is essential for every law firm, even if not for billing clients.

Improvements in time and billing software have made time tracking easier than ever before. [ more ]

Perkins Coie is the fourth Biglaw firm to close its office in China in eight months.

The firm remains committed to its China practice and clients despite the closure of its Shanghai office. [ more ]

Law firms are moving towards collaborative spaces over personal offices.

Legal news includes issues like pregnant women restrictions, FBI investigation, bump stocks, antitrust matters, and judge anonymity. [ more ]

Law firms are financially strong overall, highlighting the contrast with those laying off staff.

IPO market heavily relied on cornerstone investors in the past year. [ more ]

Hybrid work solutions are critical for law firms.

Importance of purpose-built technology for effective collaboration. [ more ]

Law firms distinguish themselves with unique offerings like TikTok presence

TikTok used for recruitment and creating 'lawkward' genre [ more ]

BTI Consulting Group has identified the top law firms that are leading the way in advising clients on reshaping their business models in the face of new technologies.

The top firms excel in tasks such as providing new ideas, developing new strategies, being tech-savvy in service delivery, understanding generative AI, and offering creative interpretations of regulations. [ more ]

Creating a welcoming culture that values diversity, equity, and inclusion can help law firms retain and recruit attorney talent.

Having women leaders in the firm can provide valuable support and business development opportunities for other women in the industry. [ more ]

Law firms saw positive financial performance in 2023, with increased average revenues and profits per equity partner.

The industry is optimistic about 2024 due to the continued performance of certain practice areas and the anticipated rebound in transactional practices. [ more ]

Law firms are doing well in the current economic landscape

Counter-cyclical demand is driving the success of law firms [ more ]

Cravath, Swaine & Moore lost three partners to competitor law firms in January.

The firm's traditional approaches to retaining talent are being tested and its hiring strategy questioned. [ more ]

Law firms can be run like tech companies, using the right software and platforms.

Important tools for law firms include case management programs, intake tools, document assembly, and integrated epayment systems. [ more ]

Women now make up the majority of U.S. law firm associates

Women lawyers are being promoted to leadership positions within their firms [ more ]

Law firms can benefit from implementing technology in their operations.

Non-lawyer service businesses can provide valuable insights on technology for law firms. [ more ]

Firms get paid when Trump pays attorneys from his Super PAC

FEC reports reveal the firms that billed Trump over the first half of last year [ more ]

Cravath was the most searched Biglaw firm in 2023 due to the new salary scale.

BTI Consulting Group categorizes other firms as "strongly searched" and "searched well above others." [ more ]

Not all exposure is good

Launch horrible side portraits

Ambulance driving can get you in trouble

Most searched law firms

Getting a mistrial in Civ Pro [ more ]

Develop high-level expertise to strengthen Biglaw prospects.

Build relationships with colleagues and potential clients to enhance your candidacy. [ more ]

Paul Weiss is adopting a "black box" system for partner compensation to reduce tensions and attract top lateral partners.

The firm is also planning to increase the bonus pool for partners to accommodate spikes in profitability. [ more ]

The legal industry is seeing a shift towards bringing in business-oriented professionals to drive strategy and financial success at law firms.

The addition of C-suite executives at the beginning of the year is aimed at ensuring a successful year-end and financial close. [ more ]

Elon Musk's drug use is causing insurance issues for his board

Many law firms are implementing hoteling strategies [ more ]

Law firms must innovate or risk facing the fate of Pan Am.

Demand for law firm services has shifted towards litigation, bankruptcy, and labor and employment. [ more ]

DRS Law partnered with a pre-intake platform to optimize the way leads interact with them digitally.

Many law firms have yet to fully embrace technology that enhances the online client experience and can be a key differentiator for attracting and retaining clients. [ more ]

In 2023, more women were employed as associates at U.S. law firms than men, marking the first time women outnumbered men.

The demographics of law firms reflect the changing demographics of law schools, where women have outnumbered men for the past 8 years. [ more ]

Rates increase and clients look for more cost-effective firms, but eventually return to using established firms like Cravath.

The FTC is offering cash prizes for solutions to stop voice cloning. [ more ]

Williams & Connolly has announced associate pay raises above the market scale

Readers are encouraged to share salary news from other firms [ more ]

SEO is essential for law firms to improve online visibility and attract potential clients.

Using localized keywords can give law firms an advantage by reducing competition and targeting local clients. [ more ]

Law firms may be able to afford raising associate salaries

Pay raises for associates may not necessarily result in larger bills for clients [ more ]

Most law firms have an annual review process for attorneys to reflect on their work and receive feedback.

Attorneys may feel pressured to only provide positive feedback during the review process to increase their chances of a raise or bonus. [ more ]

Big law firms afford associate salary raises because they make a lot of money.

Florida Attorney General is investigating college football for excluding Florida State from the playoffs.

Meta's use of copyrighted material for AI training may lead to copyright litigation. [ more ]

Transactional practices are making a comeback to generate revenue

Republican judges accused of bias in employment decisions [ more ]