Category Archives: Law Firm Economics

The Billable Hours Crunch

Billing by the hour remains central to private law practice despite its adverse impact on client service and lawyers’ quality of life. More than a decade ago, a 2002 ABA Commission on Billable Hours study discussed the negative effects of hourly billing and urged alternative billing arrangements. Most lawyers in practice today consider hourly billing…
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It’s A Small World: Globalization

As technology breaks down barriers of time and distance, and with business going global, law firms are expanding internationally, as well. More than half of 2012 AmLaw100 firms now spread across three or more continents. Between 1992 and 2012, the number of overseas offices of National Law Journal’s top 250 firms increased more than two…
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Merger Mania and Megafirms

Consolidation of the legal market heated up over the past 10-15 years as law firms look to mergers as a strategy for growth. The push to merge or acquire is fueled by the breakup of financially weaker firms and by partners who believe their clients are better served by a larger platform.  Most of the…
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Reshaping BigLaw

The traditional law firm pyramid model is under pressure. Historically, to support partner salaries at the top, firms continually added increasing number of associates at the bottom. Every year, big law firms hired troops of new associates and assigned them to high-volume but relatively low skilled projects to gain experience. Although contract lawyers, or, in…
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