Time Management for Lawyers

August 15, 2014 Leave a comment
Egg Timer

Lawyerist.com

The Myth of More Time for Billing
Sam Glover, Lawyerist

As a lawyer, time is your most-valuable asset whether you spend it billing time or completing flat-fee tasks. So it makes sense to free up as much of your time for doing more billing, right?

Well, it depends.

(Read the Article)

Timing Is Everything

August 14, 2014 Leave a comment
Stopwatch

ohioraceday.com

Determining when to outsource legal services
Gail Blauer, Michael Caplan, and Nikhil Lala of InsideCounsel

Once a corporate legal department determines which services to outsource, it should next determine the ideal time to make such a transition. In assessing whether a function is ready for outsourcing, a company should determine whether the process requires further maturation within the organization before being sourced and, if so, whether they should outsource before, during or after internally transforming those processes. As LPO solutions become more commonplace in the market, corporate legal departments are beginning to take a more sophisticated approach to legal service assessment and to view LPO as a way to supplement or complement broader corporate transformation initiatives.

(Read the Article)

Can In-house Effectively Productize Legal Services?

August 5, 2014 Leave a comment

hamburg69

hamburg69

The Productization of Legal Services
Dennis Kennedy, A Practical Application, American Bar Association
Lawyers tend to be unwilling to look to other professions or industries to find ways to improve their practices and work. We might call this approach “law practice exceptionalism,” the belief that nearly every aspect of the practice of law is unique and must be considered in isolation from what we see elsewhere. We all have heard or said, “But law is different. Really.”

As a result, lawyers have been reluctant to adopt approaches that have proven successful in other industries—project management techniques, business process strategies and much more. However, the inflexibility goes much further than that. Many lawyers refuse to even consider anything that comes from outside the profession. The common question is too often, “How many other law firms do x?” rather than, “How successful has x been elsewhere?”

Even though I am tempted to say that my Big Idea is simply for lawyers to look at and consider approaches that have been successful in other professions and industries, that’s not my approach. Instead, I want to focus on one example—that is, turning services into products or, if you will, the “productization of services.” (read the post)

Successful AFAs Need A Good Foundation

August 4, 2014 Leave a comment
Trust

OfferVault.com

To Make AFAs Profitable, Change the Client Relationship
Sue Reisinger, Corporate Counsel

About 22 percent of law firms in a new survey said they are profiting by offering alternative fee arrangements (AFAs) to corporate clients. But that means some 78 percent haven’t figured it out yet.

“AFAs only work when your client relationships are at the absolute highest levels of trust–not just a good relationship–but a deep, embedded relationship,” says The Mad Clientist, a blog from BTI Consulting Group. BTI partnered with Law360 to survey 750 law firm attorneys about their fees.

(Read the Article)

Numbers Never Lie

July 31, 2014 1 comment

PresentationVisualized Metrics Help Evaluate Law Firms
Rees Morrison, Today’s General Counsel

General counsel know a considerable amount about the law firms retained by them, the services they provide, and the fees they charge. However, those same general counsel may not know how to assemble the various kinds of data into a coherent, unified picture. For example, they may know average billing rates of their primary law firms and the number of matters worked on by those firms in the most recent fiscal year. But general counsel who believe that they can learn from the thoughtful collection and analysis of metrics may not know how to integrate those two very different kinds of facts.

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Compliance Professional? Here’s Your News…

July 28, 2014 Leave a comment

Compliance5 Stories Compliance Professionals Need to Know
Jessica Liu, InsideCounsel

In recent compliance news, Samsung faces allegations that one of its Chinese suppliers uses child labor. Whirlpool threatens to pull out of the Energy Star program and FedEx is under fire for transporting illegal pharmaceuticals. In other news, the FTC is suing Amazon for unconsented in-app purchases made by children and Google faces waves of competition activity from the EU.

(Read the Article)

Categories: Risk Management

3 Tips to Transform the Legal Department

July 23, 2014 1 comment
Useful Tips

Brilliantu.com

Insider Tips to Transforming the Legal Department
Paul Mandell, InsideCounsel

The role of the general counsel has evolved significantly over the last decade. Once a function limited to the management of cases, transactions and routine legal work, the position now includes a substantial strategy element–placing the GC in the inner circle of those making the decisions that guide the business. General counsel are expected to run the legal department more efficiently than ever before while also providing new kinds of value to the company through the strategic use of departmental assets. For today’s general counsel to have the impact that large businesses have come to expect, they must transform not only their way of thinking, but the very operation of their departments. The following are some suggestions drawn from leading general counsel to assist in this effort.

(Read the Article)

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