Time and time again the news includes another report of a law firm (most often small to medium in size) having been ripped off. The dollar amount involved in a majority of the reported thefts is a few hundred thousand, but in some cases millions of dollars have been misappropriated. In what I consider the
Getting Ahead of the Game-Four Thoughts About Operating Successfully in Today’s Market
Every year about this time some of the major research and analytic minds focused on the legal services industry publish their annual reports or studies. Citi Private Bank/Hildebrandt Consulting LLC’s Client Advisory was released on December 14, 2017 and contains a wealth of information and perspectives about what happened in 2017 and what might
Failing Strategies and Law Firm Success
I recently finished a review of the 2018 version of the Georgetown University Law Center’s Report on the State of the Legal Market. Although the report contains numerous quantitative facts reflecting continued struggles for the law firm services market (falling productivity, realization and profit margins), I was intrigued by the commentary regarding strategy.
Five Steps for Preparing Your Law Firm for a Great Future
Predicting the future of the legal services industry is no easy task. The complexity of its landscape makes divining next year, let alone the coming years, difficult. Prophesying about the future, however, is not simply an academic exercise. It has practical importance because firms must develop sound strategies that can help assure future success. For
Considering A Merger? 10 Questions to Answer First
Merger has continued to be a strategic choice for many law firms. Since 2009 the volume of transactions has continued to grow, with approximately 100 announced mergers last year.
Our expectation is that the number of law firms that choose merger as their go forward strategy will increase, dwarfed only by the number of firms