Future of profitability models and analysis for BigLaw firms

Tim Corcoran has penned “The Future of Profitability Models and Analysis for Law Firms, a telling chapter in a recent Ark Group publication.

A regular Dialogue contributor, Tim brings a strong business focus to his work and writing, so it should be little surprise that he begins, “A ruthless market will simply and increasingly ignore law firms whose leaders’ pursuit of outdated success metrics position them loudly and wildly out of sync with market demand.”

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Remaking News of the Week: BigLaw investing in their own NewLaw businesses

Remaking News of the Week: BigLaw investing in their own NewLaw businesses draws attention to Roy Strom’s June 2019 Bloomberg Law piece on Bryan Cave Leighton Paisner’s launch of BCLP Cubed.

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Remaking News of the Week: BigLaw firms diverge over entering legal tech market

Today Remaking News of the Week features a piece on BigLaw firm differences over entering the legal tech market. I’d phrased issue more as a question of ‘Whether’ or ‘How’? Here are snippets with the link to the full piece at the end. In my opinion, every BigLaw firm needs to have a view on this issue. 

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Remaking News of the Week: BigLaw discounting

Today Remaking News of the Week: BigLaw discounting draws attention to a podcast that hasn’t – at least IMO – received the attention it should.

Question: If I’m right, why might this be so? Answer: The closed ranks and conscious denial of BigLaw partners and leaders the world over.

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Classic: Is BigLaw having its Kodak moment? asked Ron Friedmann

Today’s Classic: Is BigLaw having its Kodak moment? asked Ron Friedmann reminds us of the conundrum with which many observers of the industry continue to wrestle. If the structural changes having a net adverse impact on BigLaw business model firms are real and intensifying, why is there not more evidence of angst amongst BigLaw leaders? Why are relatively few BigLaw firms not taking more determined action to address these forces? Is there widespread denial? Or are the analysts over-stating the situation?   

Ron’s observations made in Is BigLaw having its Kodak moment? in 2016 are worth re-visiting. 

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