Law Firm Best Practices Blog

Billing Attorney Origination Credit Essentials

on Apr 1, 2019 7:40:00 AM
  When several attorneys are responsible for handling a particular client's work, determining the amount of credit to share can be a tricky process. This is because  most law firms have a particular way of categorizing attorney efforts within a clien...
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Law Firm Capitalization

on Feb 12, 2019 9:34:04 AM
  Capitalizing a law firm is typically accomplished in the following ways Paid in Capital; Withheld and Undistributed Earnings; Debt; Trade Credit   The philosophy and financial capability of the partners often determine the capitalization methods a ...
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Client Origination Credit Essentials

on Jun 5, 2018 5:55:59 PM
Most small and mid-sized firms must continue to compete for new business on a constant basis.  Having polices that are favorable to the development of business generation skills places a law firm in prime place for growth.   
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Steps to Successful Lateral Hiring

on Mar 18, 2017 9:35:00 PM
Apart from the non-financial factors (reputation, cultural fit, conflicts, strategic benefits, etc.), law firms should carefully analyze the financial implications of a possible lateral transaction.When considering a potential lateral hire, firms sho...
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Safeguards for Admitting Laterals (Part 2)

on Mar 8, 2017 9:59:34 PM
****** READ PART ONE OF THIS SERIES:  Safeguards for Admitting Laterals (Part 1) ***** Workload Distribution and Revenue per Hour   In a lateral transaction, the impact on average revenue per hour has limited meaning.  In other words, it is highly un...
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Aligning Equity with Contributed Profits

on Dec 21, 2016 5:57:04 AM
  How can equity be transferred in an orderly way and to the right people?    The benefits of adjusting equity based on profit contribution at a law firm include the following: 
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