Re-Evaluating the Relationship between Corporate Legal Departments and Law Firms
Roughly 95% of firms do not internalize the event of not receiving business from a company after an engagement synonymous with being fired from their post. On the flip side, only about half of law departments consider firing an outside firm for a failure to comply with outside counsel guidelines. Ultimately, this distinction causes a few problems for the inside-outside counsel relationship. As matter centricity has become the operating standard for general counsels’ engagements with outside counsel, it’s important that law firms bring their best practices for each and every engagement.
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Top 3 pricing insights to prevent legal budgeting blunders
One of Legal Decoder’s biggest strengths is its capability to surface crucial data from legal invoices, which helps organizations establish strategies for keeping their spend on target. But with each piece of data comes a story that illustrated how the business of law can be innovated upon.
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Informed Pricing for More Accurate Legal Budgets
For decades, it seems like the personnel in charge of creating budgets for legal functions have been working under the same pretenses as HGTV hosts, but now with a stronger grasp on industry prices and rates, the budgeting process can be streamlined substantially.
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Improving the Bankruptcy Fee Review Process
Over the past couple of years Legal Decoder has worked on several high-profile bankruptcies and analyzed hundreds of millions of dollars in fees for the U.S. Trustee’s Office. Along the way we have had the opportunity to observe and provide solutions to the challenges that come with the fee examination process during bankruptcy administration.
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BIELLI & KLAUDER, LLP: THE BANKRUPTCY BOUTIQUE DEFTLY NAVIGATING ITS CLIENTS THROUGH CHOPPY FINANCIAL TIME
Jessica L. Bilotta, Esq. & Emma Burnett-Balbier Interview Thomas Bielli about how they use Legal Decoder in their bankruptcy practice.
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Twelve “Must Address” Topics for Law Firms Strategically Planning for 2020-2021 and Beyond
Law firms have been hearing client outcries for change, innovation and re-imagining the legal services business delivery model even before the current health crisis. Over the past few years, some positive operational changes and innovative measures have been implemented by law firms, borne mostly out of necessity as opposed to self-initiation.
In the COVID-19 era, law firms must think expansively about strategic planning. Certainly, the transition from traditional-to-remote operations has posed practical issues for law firm leaders; however, the issues have required mostly tactical responses. Now, as business life transitions into the “new (ab)normal,” law firm leaders face a massive, unprecedented challenge to architect a strategic blueprint for the future. Obviously, no single blueprint applies to every law firm.
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