Profitability / White Papers
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Companies are changing the way they buy legal services – gradually in some instances, drastically in others. The hourly rate billing model that has ruled for decades is giving way to a greater focus on terms emphasizing value delivered instead of time spent. Against this backdrop, value-based fee structures are seen as an effective way to manage cost, and it goes far beyond just the dollars. This White Paper is written from the perspective of in-house counsel.
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Many vendors and consultants to the legal industry publish self-serving articles and White Papers as part of their marketing programs. In many cases, however, they’re little more than poorly disguised sales brochures promoting products and services they offer law firms. But this one is solid. It’s well-researched and chocked full of expert opinions on how technology has impacted lawyers and law firms.
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Over 90 managing partners, firm leaders and top consultants to the legal industry participated in The MPF 2010 Annual Conference on April 29th in Atlanta, Georgia. This comprehensive White Paper summarizes the key findings revealed through the use of state-of-the-art Audience Participation Technology. It focuses on how law firms approach strategic planning and the role of the managing partner; including what they do, how much time they spend in the role and how they get paid for all that non-billable effort. This is really good stuff.
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Forum Faculty member John Smock and his partners recently wrote this assessment of how law firms are performing in the midst of the current economic downturn. And it’s not as bad as you might think for the well-managed law firm.
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Practical Advice to Improve Your Firm’s Profitability
AttachmentFrom the inaugural issue of the Managing Partner Forum newsletter, firm leaders reveal their top management concerns and thoughts on strategic planning. Our response? It’s time to assume the role of CEO in order to make the firm profitable.
Additional Information
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