The New Litigation Practice in America

Over the past couple of decades, the strength of US law firms and the growth of legal markets have been measured by the size of transactional practices. From this viewpoint, litigation, at least among law firms listed in the AmLaw 100 and 200, is an important but supportive practice to the M&A and securities engines […]

Taking Advantage of a Recession: Seven Strategies for Opportunistic Law Firms

The natural reaction of most lawyers is to deal with an economic downturn in the same way they would handle a hurricane — hunker down, don’t take any unnecessary chances and try to survive until it is over. Given the risk adversity of most law firms, avoiding action may indeed be the best plan for […]

Five Unintended Consequences of Economic Recovery

As the global economy moves toward an eventual recovery, there will be some huge opportunities for law firms, as well as some minefields.  How firms deal with these issues may determine their short and long term success.  There are all sorts of possible scenarios but the five issues discussed below certainly appear to be the […]

Full Circle: Alternative Pricing

The silver lining for law firms in the recession may just turn out to be alternative pricing.  For years, sophisticated managing partners have realized that changing the basis for pricing legal services could enhance profits more than any other available action.  The only problem was that neither their lawyers nor their clients were willing to […]

Plan B

The economic downturn has caused many businesses to reconsider the viability of their strategic direction.  This is especially true for law firms that primarily deal with business clients and are impacted by both the global decline in business transactions and clients’ overall desire to reduce costs by using less legal services.  For many law firms, […]