Practice Management
Digital assets “to play central role in law firm M&A”
Digital assets, data and “repeatable, digitally enabled processes” will play a central role in future law firm mergers, two leading advisers have predicted.
Survey: Profits up in the City, down in the regions
City law firms are outperforming their regional counterparts, with partner profit pools rising by 12% in London but falling by 11% outside of it, according to new research.
Employee ownership “a way of saying we are not for sale”
The managing director of a Kent law firm which has turned down multipe private equity advances has described its move to employee ownership as “a way of saying we are not for sale”.
Leading southern law firm launches referral network
Thrings, a law firm with offices across the South-West and South of England, has become the latest regional practice to launch a referral network for smaller practices.
Fifth of law firms looking to option of private equity backing
A fifth of law firms are considering private equity investment as a route to growth and transformation, according to new research.
Law firms disagree on what should be considered a complaint
Law firms are divided over what should be regarded as a complaint from clients, a survey by the Solicitors Regulation Authority has found.
Largest law firms raise rates by 10% but cut staff
The top 10 law firms have raised hourly rates by over 10% to an average of almost £500 while cutting staff numbers amid growing concern about the impact of AI.
Regional consolidators outperforming rest of legal market
Regional law firm consolidators are outperforming other disruptive models in the market and also the biggest practices in the country, an analysis by PwC has shown.
Proposed LLP tax will be “big hit” on legal profession
A new tax on LLPs could be “a big hit” on the legal profession, the Law Society warned yesterday, with figures showing it would mean a 7% increase in the effective tax rate for partners.
Don’t be scared off by size of wellbeing challenge, lawyers told
Concerns about wellbeing in the law have been elevated to such a level that employers may feel overwhelmed by the thought of tackling it.
Blog
Is your Google Ads budget funding your competitors’ AI visibility?
If your cost-per-click has crept up again this year, you’ve probably assumed the market simply got more expensive. That’s the wrong way to read what’s happening.
Containing the spread of unapproved AI
Nearly 60% of fee-earners admit to using unapproved tools (like free versions of ChatGPT). Yet 68% of firm leaders are confident there is zero risk of unapproved AI being used for client work.
When AI adoption goes wrong, costs add up fast
City AM recently reported that London is fighting to claim the title of ‘global capital of legal AI’. However, it’s crucial we remember that adoption alone does not create value.
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