Practice Management

Five law firms have now agreed to offer all those who successfully apply for trainee solicitor and other training posts the opportunity to work part-time.

A leading Midlands law firm has become the fourth in the UK to obtain B Corporation status, meaning that it aims to balance profit with purpose.

Almost all larger law firms are increasing billable hours targets for their lawyers but write-offs are also on the rise, a report has found.

Seven in ten law firms say they lack confidence in negotiating fees while 40% “do not know with any certainty” what proportion of their client relationships are profitable.

Seven apprentices at the first large law firm to run the training scheme – which takes six years and includes a law degree – have qualified as solicitors.

A law firm in Sussex has become the latest employee-owned law firm, with its former owner saying he expected more to follow suit. Staff at a firm that did it last month are to receive £500 each already.

A law firm LLP that used a shell company to enter into leases for its offices has won an appeal against an HM Revenue & Customs decision that it could not recover the VAT incurred.

Many law firms looking to be bought do not have the value they like to think they have, while multiples used to set the price are beginning to fall, leading advisers have warned.

The founder of a law firm at the forefront of the wellbeing movement has described how lawyers write “user manuals” about themselves, which colleagues read to help understand the way they work.

The profitability of global law firms has continued to decline against a background of “falling demand and surging expenses”, with jobs and equity partner payouts at risk if the trend continues.