Market intelligence for law firms of the future
Legal Features
Do small law firms have a brand?
Brands are not just for big firms. Thayne Forbes argues that they can work for smaller practices as well, explaining how to create one, where the value lies, ensuring it appeals to your target market and the risks of adopting a marketing collective’s brand instead.
Making alternative business structures work
Lawrence Cook, director of marketing and business development at Thesis Asset Management – which was once owned by and is still linked to south-east law firm Thomas Eggar – outlines their experience of joint ventures with solicitors.
File reviews – are they really necessary?
Since the introduction of the SRA Handbook, firms have been asking whether they should introduce or improve a file review system. Corinne Staves, a senior associate at Maurice Turnor Gardner LLP, considers the issues.
Everything you wanted to know about ABS applications but were literally afraid to ask
Seven alternative business structures in more than five months does not seem to be a great achievement on the part of the Solicitors Regulation Authority, and increasingly Legal Futures has been hearing complaints about delay and a lack of transparency in the process.
Actual – Budget = Catastrophe
Andy Ellis, the managing director of Practico and the costs lawyer who acted for the defendant News Group Newspapers in the Henry costs management case, highlights the key lessons from the ruling.
Direct public access – a chance for barristers and solicitors to work together, not against each other
With more and more barristers capable of serving the public directly, it may seem like public access is only going to lead to greater competition with solicitors. But, argues senior clerk Scott Baldwin, there is actually a business opportunity here that could benefit both sides.
Pass the parcel: should you indemnify your COLP?
Allison Wooddisse, head of LexisPSL Practice Compliance, looks at the whether and how law firms should indemnify COLPs against adverse consequences from taking on the role. Many COLPs are feeling jumpy but an indemnity is not as straightforward as it may appear.
Demystifying the banking process – what your bank looks for in your firm
The recession and continuing economic challenges highlight the increasing importance of law firms having an effective business strategy in place that considers the ambitions of the firm but ensures that those ambitions are delivered against access to suitable levels of cash flow. By Legal Futures Associate NatWest
Re-shaping your firm – and how to pay for it
Chris Marston, head of professional practices at Lloyds TSB Commercial, takes a look at how solicitors’ firms can compete against external capital.
How to compete with LPO providers
The fallout from the financial crisis as well as growing threats from the legal process outsourcing industry is making it even more difficult for legal practices to juggle client expectations and fee income, says Peter Collins. Many are looking to manage their own resources more effectively.
Keeping the Information Commissioner off your back
The recent case of a Scottish advocate’s stolen, unencrypted laptop raises some important questions regarding data controller responsibility, portable media (not just laptops) and the options available for securing such media, explains Matt Torrens.
Taking public access seriously
The Bar Council is urging barristers to embrace public access. But, says John Binks, the reality of doing the work will come as a rude shock to many barristers. It can be done, but they will need to revisit the way they do business, including the chambers model.
Getting your client-care letters right
Lisa Dixon from the Institute of Legal Finance & Management argues that firms should consider issuing separate terms and conditions with their client-care letters that deal specifically with the issues around client funds.
The Bar through a generational lens
Ian Dodd considers the background and motivations of the four ‘generations’ of barristers currently populating the Bar, from the ‘Veterans’ to Generation Y, and says chambers would do well to ensure that all are properly involved in their management.
Banning referral fees and then cutting RTA portal costs will have “devastating” impact
It is full steam ahead at the Ministry of Justice with the Jackson reforms, but do the figures add up? If they do, what do they add up to? Amanda Ashton of Compass Costs crunches the figures on the impact a reduction in RTA portal fees will have in the event referral fees are banned
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