As every new year begins, the idea of law firm merger grabs the attention of more than a few law firm leaders. Although the pandemic impacted the number of law firm mergers closed in 2020, all indications for 2021 suggests a strong merger season. It is no wonder as a well-constructed merger is an effective

For firms that operate on a calendar fiscal year, 2020 is done. Over. Finished. The uniqueness of 2020 presented challenges not anticipated as last year started, but remarkably most firms adjusted and endured. As they now take a deep breath and prepare for the merry-go-round of 2021, firm leaders can apply some lessons from the

Most firms are in the final stretch of 2020, wrestling with collections, budgets, PPP loan forgiveness, promotions and compensation decisions. All of these are important activities. But, while focused on wrapping up 2020 let me suggest one more subject that deserves attention — something that stands a chance of making a real long-term difference.

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Law firms seeking to thrive today must stand out from their competition.  Of course, that is easier said than done, and identifying specific steps to achieve this goal takes careful thought, planning and execution.  Thomson Reuters’ recently released 2020 Dynamic Law Firm Report presents a provocative and instructive glimpse of certain elements found in law

Managing the delicate balance of law firm economics has always been a challenge. In serving any particular market (practice type and geography), firms struggle to find that sweet spot — the perfect formula of rates/pricing, productivity, cost, and resulting profits. Should any one of the particulars get far out of equilibrium, the consequences can be

As talk about more states allowing non-lawyer ownership of law firms is heard, concern over more deeply capitalized competition may be on the mind of some law firm leaders.  No doubt, opening up law firm capital structures to investors is significant, but it won’t change the fundamentals for surviving in today’s legal services market.  Since

The impact of COVID-19 on law firms has barely begun. When it comes to the flow of work, some firms are experiencing a measurable or even significant bump thanks to having the right practice focus at the right time: but for the most part, law firms have experienced some degree of decline in both work

For some time, law firms have felt heightened competition from not just other law firms, but also from clients moving needs in-house and alternative service providers picking off peripheral services.  As reported by Bloomberg Law in Arizona First State to Allow Nonlawyer Co-Ownership of Law Firms, looming rule or legislative changes in a number