Practice Management
Law firms “need to prove authority” to gain AI approval
Most law firms are failing to send AI engines like ChatGPT, Claude and Gemini the signals they need to recommend them to potential clients, groundbreaking research has found.
New ‘buy and build’ group offers firms succession solution
A new legal group backed by a private investment office has acquired an Oxford practice as the first step in a buy-and-build strategy.
Most consumers think they should keep interest from client accounts
A majority of clients believe that they should keep interest earned on client accounts, research for the Legal Services Consumer Panel has found.
General counsel see lower bills as main benefit of AI
General counsel see cost savings as the most important benefit from external law firms’ use of AI, according to research which advises firms to address the issue head-on.
Knights hails “return to organic growth” as turnover tops £200m
Listed law firm Knights yesterday reported a “return to organic growth” in its last financial year as part of a 28% bump in revenues to almost £208m.
Law firms saving on PII as “favourable” market continues
Law firms have been spending a smaller share of their revenues on professional indemnity insurance and those turning over £5-10m are saving the most.
National firm teams up with Microsoft to build own AI platform
National firm Shoosmiths has joined forces with Microsoft to create its own bespoke AI platform for carrying out contract reviews.
Working patterns “unsustainable for our health”, say women lawyers
Exactly half of female legal professionals believe their working patterns are not “sustainable for their health in the long term”, a large-scale study has found.
Clients less swayed by emotional support than law firms think
Clients are much less likely than law firm leaders to believe that feeling valued or cared for matters most or that a personalised service drives loyalty.
AI and private equity “reshaping partner pay”
The traditional metrics and models used to calculate partners’ pay are coming under mounting pressure from the rise of artificial intelligence and private equity.
Blog
Does the Lloyd review mark the end of the Legal Services Act?
The Legal Services Board often generates eye-rolls and irritation from the leaders of the frontline regulators it oversees and of the representative bodies attached to them.
A familiar story?
There is no doubt that the rising cost of clinical negligence claims deserves attention. However, the system’s true cost driver is often not the claim itself.
When AI becomes a line on the client’s bill
On 23 June, Legora changed how it charges. The platform announced that its most capable product was moving away from a flat per-seat licence fee to consumption-based pricing
