Practice Management
Leading Midlands law firm is latest to adopt B Corp status
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.
Lawyers billing more hours, but write-offs increasing too
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.
Law firms “lack confidence in negotiating fees”
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.
Pioneering apprentices qualify as solicitors at leading law firm
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.
“Win-win” as Sussex firm embraces employee ownership
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.
Law firm wins VAT battle with HMRC over office leases
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.
Law firms looking to be bought “do not have the value they think”
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.
Lawyers write “user manuals” so colleagues can understand them
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.
Big firms could cut lawyer numbers as profitability “continues to fall”
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.
Mid-sized commercial firms “need to shout” about their tech offering
Mid-sized commercial law firms need to shout more about how they use technology to help clients, according to a survey that found most say “nothing at all publicly” about it.
Blog
Why law firms are getting AI supervision wrong
The profession’s response to AI supervision failures misunderstands the nature of LLM output – there needs to be for a shift in the culture.
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Reports
Associates
