Business Development

Mergers are back, but is it the best decision for your firm?

Ready to join forces with another law firm? You’re just in time. Law firm mergers are back after a pandemic lull, according to a January report from Fairfax Associates. In 2023, there was a mix of mergers of firms of all sizes, including those that were looking for geographic expansion as well as those seeking niche expansion, deeper client relations and new markets.

Apr 1, 2024 2:20 AM CDT

Unwritten Rules: What they expect you to know on Day 1 but don’t tell you

It’s time to open up the clock and show you what your managers expect you to know when you walk in the door on Day 1.

Apr 1, 2024 1:30 AM CDT

More lawyers—and clients—want to learn about sustainable development practices

As many industries develop sustainable development practices, lawyers can play a role too. In a book released by ABA Publishing, Sustainability Essentials: A Leadership Guide for Lawyers, John Dernbach, with co-authors Irma Russell and Matthew Bogoshian, provide digestible how-to tips for proactively infusing a sustainable development framework into legal work.

Apr 1, 2024 1:20 AM CDT

Bonuses structured as forgivable loans are being used for partner retention

Some law firms are using forgivable loans to retain valuable partners and keep newly promoted partners happy.

Mar 28, 2024 1:23 PM CDT

For second year in a row, law firms pull back on lateral hiring of lawyers

Law firms continue to cut back lateral hiring of lawyers following the talent wars of 2021, according to a report by the National Association for Law Placement.

Mar 27, 2024 11:35 AM CDT

This BigLaw firm surpasses $7B in revenue, but that’s not metric being watched by many firms

The nation’s top grossing law firm has crossed the $7 billion line. Kirkland & Ellis had $7.208 billion in gross revenue for 2023, a 10.6% increase.

Mar 27, 2024 8:36 AM CDT

Legal research tools in the age of generative AI

A little over a year ago, ChatGPT-4 was released, and in that short time, the functionality of generative artificial intelligence has been added to many of the tools that we regularly use in our day-to-day workflows. From research and brainstorming to data analysis and translation, generative AI is changing how work gets done.

Mar 25, 2024 10:26 AM CDT

How client service has changed with emergence of generative artificial intelligence

Ari Kaplan recently spoke with Jamie Berry, the president of Evolver Legal Services, an e-discovery and litigation support services company.

Mar 22, 2024 9:25 AM CDT

5 tips for law firms to incorporate DEI best practices in 2024

Many law firms are seeking to increase diversity, equity, inclusion accessibility and belonging within their team (collectively, “DEI”). Following are five tips for how law firms can apply DEI best practices in 2024.

Mar 21, 2024 9:07 AM CDT

How lawyers can use Substack to generate business

Founded in 2017, Substack, which is a publishing platform open to anyone and everyone who has something to write, has recently attracted a slew of lawyers and attorney-adjacent writers who realized how much it could help their careers.

Mar 1, 2024 1:18 PM CST

Why I Created a Legal Podcast: To learn, connect and grow

I don’t know about you, but I didn’t have a law school class on networking, business development or client service. Even during my time as a law firm associate, training on these professional skills was informal (at best) but mostly observational as I listened on speakerphone or sat quietly at a client lunch while the partner carried the conversations. There was no structured training in these essential business skills.

Mar 1, 2024 11:15 AM CST

What’s new in document automation for lawyers?

If the legal work your firm handles involves lots of document creation, then you would benefit from document automation software. It facilitates quick and easy document assembly by creating templates that reduce redundant data entry.

Feb 27, 2024 9:38 AM CST

Do you know who your legal recruiter is?

As 2024 begins, so does the business of legal recruiting. And not surprisingly, we have already seen numerous transfers of law firm partners and groups. The market also anticipates several more major firm mergers this year. As we start this new year, I would like to broach the question, do you know who your legal recruiter is?

Feb 23, 2024 1:37 PM CST

What’s the current state of remote and hybrid work in law firms?

Ari Kaplan recently spoke with Alaa Pasha, the CEO of Maptician, a cloud-based workplace management software company and an end-to-end solution for law firm hybrid operations.

Feb 23, 2024 9:15 AM CST

What’s the secret to writing a good search prompt?

Lawyers may be excellent when questioning on the stand, but when it comes to cross-examining artificial intelligence, they may need an assist. With generative artificial intelligence, it’s all about the search prompt.

Feb 20, 2024 12:51 PM CST