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Law Practice Management Law Firm Partners Billing

Mitratech Holdings, Inc

[Webinar] Corporate Legal Corner - August 20th, 11:00 am - 12:00 pm ET

Join us for the summer edition of Mitratech’s Corporate Legal Corner, a virtual event series and tech expo where legal professionals are invited to attend an expert-led panel discussion followed by solution-focused breakout...more

LawVision

Mirage or Oasis? Preparing for FY2025 Winter Pricing in the Summer Heat

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As summer peaks with days hitting a sweltering 100 degrees, it might be challenging to think about the heart of the fiscal 2025 winter season. Our strategic pricing calendar reminds us that this time of year presents an...more

Mitratech Holdings, Inc

[Webinar] Corporate Legal Corner (Virtual Panel + Tech Expo) - June 20th, 8:00 am PT

Rates are up, but budgets are down. It’s not a new story, but the continued increase of law firm rates (up to $2,500/hr for partners at some firms!) amid the typical budget constraints has increased the pressure (to a fiery...more

LawVision

The Scariest Chart on the State of the Legal Industry

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Do you want to see something scary? Borderline terrifying? Foreshadowing of major, inevitable changes in the practice and business of law? Take a look at this horror-show of a chart from the Thomson Reuters Institute &...more

LawVision

Your Strategic Pricing Execution Checklist

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As the year begins, law firms transition their pricing focus from the planning stage to execution. In the second half of 2023, firms were busy evaluating their rates and pricing strategies to prepare for 2024. Currently, the...more

LawVision

The Math Behind Declining Work Ethic

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It seems like most discussions of law firm productivity these days – from Partners to paralegals – include references to declining billable hours, which are further extended into comments on declining work ethic. Sadly, such...more

LawVision

Mastering the Art of Rate Execution in the Legal Landscape of 2024

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As we usher in 2024, the echoes of 2023’s law firm successes and challenges still linger. Last year, we observed mixed demand, gnawing expenses, the AI frenzy, and talent scarcity. In that tumultuous terrain, I frequently...more

LawVision

The Nuances of Multi-Tiered Rate Structures: Unraveling the Complexity

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I occasionally receive questions about multi-tiered rate structures, which prompted my focus this week. RATE TIER STRATEGY DEFINED Rate tiering is a pricing strategy where law firms offer different rate schedules for their...more

Nancy Myrland - Myrland Marketing & Social...

What Will Artificial Intelligence Do To Hourly Billing In Law Firms?

It’s time to discuss the impact of artificial intelligence on the traditional billing structure in the legal profession. With the rise of AI and Generative AI technology and its potential to streamline tasks and matters, it...more

LawVision

Navigating the Complex Landscape of 2024 Law Firm Rate Setting

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“The moment you make a mistake in pricing, you’re eating into your reputation or your profits,” wisely stated Katherine Paine, emphasizing the critical importance of understanding the strategic value in pricing. As we look...more

Mitratech Holdings, Inc

[Webinar] Optimizing Legal Spend in TeamConnect & Acuity: Leveraging Structured Data and AI Through Managed Bill Review - August...

Too much legal spend data, not enough actionable analytics. Sound familiar? Spend less time reviewing invoices and uncover 2-3x ROI with AI-driven line-item categorization + human expertise. Join our upcoming webinar for...more

LawVision

Pricing 2.0 – Beyond the Billable Hour

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I am enjoying the discussion going on these days about hourly billing. Rachel Barnett of Brooks Brothers recently outlined a well-articulated view of the negatives of the billable hour. Colin Jasper then turned the topic...more

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