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LawVision

Mastering the Art of Client Communication on Law Firm Pricing

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A recent article on Law.com, Partners Confront ‘Deeply Uncomfortable’ Client Communications on Soaring Billing Rates, highlighted a growing trend in the legal industry: many firms are shifting away from personal...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

LawVision

How to Choose the Target, and Then Hit It!

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It’s a longstanding tradition in the legal business: Clients complain about law firms on subjects such as price, deficient client service, slow response times, and unacceptable outcomes. Meanwhile, lawyers grouse about...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

Navigating Rate Trends for 2024: Strategies for Pricing Success

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Contrary to popular perception, law firm billing rates do not exhibit a steady upward trajectory. Instead, a closer examination of long-term trends reveals a pattern of cyclical fluctuations in billing rate increases. These...more

LawVision

The Future of Law Firm Pricing: AI, Time, and the Quest for Genuine Value

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In my last two pieces, we navigated the intricate landscape of the 2024 law firm rate setting and broached the powerful bond between law firms and clients when discussing rates and value. Today, let’s venture into the future...more

LawVision

Fiscal 2023 Rate Strategies Series: Big Miss #3 – Wide Rate Dispersion with Bonus: Thoughts on Fiscal 2023 Rates

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Today’s blog is the last installment of a three-part series on Big Pricing Misses. Pricing is one of your strongest drivers of profitability. Consequently, improvements here will result in meaningful implications for overall...more

LawVision

Fiscal 2023 Rate Strategies Series: Big Miss #2 – The Perils of Rate Stagnation (Flat Rates)

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Today’s blog is part two of a three-part series on Big Pricing Misses. In part one, I described the current precarious law firm rate-setting environment that attempts to find value balanced with talent inflation, demand...more

LawVision

Fiscal 2023 Rate Strategies: Big Miss #1 – Unnecessary Discounting

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As we look to close out 2022, it has never been more important to execute your pricing strategy well. The competitive market for law firms may be heading into a more challenging time compared to the past five years, and it...more

LawVision

Thoughts About Law Firm Rate Strategies into 2022

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A recent AP news headline indicated that the price of cars, gasoline, restaurants, food, and other goods matched a 13-year high, raising pressure on the Federal Reserve, “whose officials have repeatedly said the increases...more

Conn Kavanaugh

Nonlawyer Ownership of Law Firms: Coming to a Jurisdiction Near You?

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Traditionally, the only place to seek legal advice in the U.S. has been at a firm owned and run by one or more lawyers. Change, though, may be on the horizon. A few states have loosened the rules that enforce this norm, and...more

Casetext

A Robot Walks Into a Courtroom

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Today we are honored to present our conversation with Richard Susskind, one of the worlds leading intellectuals on technology in the law and the future of work. Dr. Susskind is also the author of some of the best-known books...more

Sullivan & Worcester

Creating Alternative Fee Arrangements Focusing on Value

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In-house counsel hire outside counsel for specific purposes, for example: to document and implement a transaction; to obtain a favorable outcome in a dispute; to provide specialized expertise or counsel; or to provide...more

Holland & Knight LLP

Decisions Do Not Apply "Jewel Doctrine" to Departed Partners' Fees - Legal Fees Earned by Departed Partners in Now-Defunct Law...

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A California District Court recently held that a bankruptcy trustee could not claim a property interest in the hourly fee matters pending at the now-dissolved Heller Ehrman LLP law firm. This June California decision was...more

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