BigLaw New Normal Looks Bad – More ‘WilmerHale Moves’ Coming?
More evidence has come in that the new normal for large law firms looks bad: the Hildebrandt Baker Robbins Peer Monitor Economic Index (PMI). This index is a function of demand (billable hours), productivity (hours per lawyer), rates, direct expenses, and overhead expenses. The 2010...
Ron Friedmann,
16 years ago
2 min read
Large Law Firm 2009 Financial Performance – An Analysis by Steve Nelson of TMG
This week I read an excellent analysis of BigLaw financial performance. I share it here and add a few comments. My friend Steve Nelson of The McCormick Group, an executive search firm with a big legal practice, is an astute observer of the legal...
Ron Friedmann,
16 years ago
4 min read
Lawyers v Firms – What’s the Right Amount of Staff Support?
As law firms adjust their strategy to the new normal, they also need to adjust their operations. We may see more staff lay-offs but the time has come to re-think operations, not just cut. Historically, I’ve seen relatively few articles on law firm operations; so...
Ron Friedmann,
16 years ago
3 min read
David Wilkins on Mega Trends for Legal Profession (Session Report, Georgetown Law Conf)
I am attending Law Firm Evolution: Brave New World or Business As Usual? at the Georgetown Center for the Study of the Legal Profession. Here is my session report on the concluding remarks by David B. Wilkins, Lester Kissel Professor of Law and Director, Program...
Ron Friedmann,
16 years ago
2 min read
Business Models: Strategy and Governance (Session Report, Georgetown Law Conf)
I am attending Law Firm Evolution: Brave New World or Business As Usual? at the Georgetown Center for the Study of the Legal Profession. Here is my session report for “Business Models: Strategy and Governance.” Presentations: Business Models in Legal Practice: Toward Definition and...
Ron Friedmann,
16 years ago
9 min read
Creative Destruction and Innovation (session report, Georgetown Law)
I am attending Law Firm Evolution: Brave New World or Business As Usual? at the Georgetown Center for the Study of the Legal Profession. Here is my session report for the session “Creative Destruction and Innovation.” First, however, the panelists: Presentations: Coase, Schumpeter, and...
Ron Friedmann,
16 years ago
8 min read
Emerging Relationships Between Law Firms and Clients (Tweeted Conference Report)
On Sunday evening, 21 March 2010, I attended the first panel of Law Firm Evolution: Brave New World or Business As Usual? at the Georgetown Center for the Study of the Legal Profession. Reproduced here are my live Tweets from “Emerging Relationships Between Law Firms...
Ron Friedmann,
16 years ago
5 min read
Eversheds: “the revolution has now arrived”
Last week the Times Online published Eversheds report looks at how ‘perfect storm’ will affect the legal profession (18 Mar 2010), which provided an advance look at “Law firm of the 21st century – The clients: revolution – An Eversheds report on the post-recession legal...
Ron Friedmann,
16 years ago
3 min read
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