Embracing the Product Imperative
Why and how law firms can and should consider the “product” approach.
Compensation and Remuneration Revisited
Clarifying and Defining What the Firm Expects of its Partners Before deciding the best method of compensation and profit sharing in law firms, it is important to be clear about what the firm expects of its partners and what roles and responsibilities it needs them to perform. Partners equally need to be clear how they […]
Linking Partner Targets to Profit Shares
The issues of partner performance and rewards are rising on law firm agendas, especially with the impact of new age discrimination legislation. Law firm leaders talk a good game about how the firm ‘rewards what it values, and values what it rewards’ but in reality many firms give scant regard to anything except seniority and […]
Be a Cheerleader for Downsizing
To reach their potential in productivity and profitability, greater numbers of firms than ever before have been focusing very seriously on the development of effective practice groups. However, many firms succumb to the temptation of choosing the wrong professionals to head up their practice groups. Historically, firms have tended to make practice leader that individual […]
How Much Should We Pay Marty Marion?
As law firms shift toward alternative billing models, traditional compensation systems based on billable hours are becoming outdated. To stay competitive and fair, firms must evolve how they measure partner contributions—emphasizing profitability, client management, and value over raw hours.
Binge and Purge Cost Management
Many law firms reverted to pre-recession spending after temporary cost-cutting measures, missing the opportunity to reimagine their business models. This article outlines five key structural changes—reducing capacity, specializing staffing, shrinking support roles, minimizing office space, and adopting lower-cost tech—that could permanently boost profitability and help firms adapt to a shifting legal marketplace.
Texas Legal Market
Texas, the third-largest legal market in the U.S. at $17.1 billion, offers high growth, strong population expansion, and increasing industrial diversity—making it a prime opportunity for law firm expansion. Dallas and Austin, in particular, are under-lawyered and positioned for major growth, while Houston’s market dominance and San Antonio’s demographics pose challenges for new entrants.