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Inside Law Firms’ Best Results in a Decade

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Law.com – Law firms were able to grow revenue more than expenses despite a big rise in the cost of associate salaries. “The law firm industry last year posted its best results in more than 10 years.Post-recession highs in demand and billing rate growth drove strong revenue growth—critical in a year where expense growth accelerated.… Continue Reading

The Law Firm Chief Innovation Officer: Goals, Roles, and Holes

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DeStefano, Michele, The Law Firm Chief Innovation Officer: Goals, Roles, and Holes (November 11, 2018). University of Miami Legal Studies Research Paper No. 18-39. Available at SSRN: https://ssrn.com/abstract=3282729 or http://dx.doi.org/10.2139/ssrn.3282729: “So many lawyers are sick of hearing that they must “innovate or die,” yet their clients call for innovation continues to be loud; and, although… Continue Reading

New on LLRX – The implications of the difference between facts and knowledge

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Via LLRX.com – The implications of the difference between facts and knowledge – Using the foundational paper, Facts or Knowledge? A Review of Private Internal Reports of Investigations by Fraud Examiners, Bruce Boyes succinctly identifies the difference between facts and knowledge to clarify why organizations should engage in knowledge management. Continue Reading

Practice Innovations: The Rise of Next Generation CI

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“Practice Innovations” is a quarterly, online newsletter that examines best practices and innovations in law firm information and knowledge management with an eye toward better management strategies in the face of a changing legal environment. “The results are in: law firms with highly effective competitive intelligence (CI) functions perform better, over time than their peers,… Continue Reading

Report – world has become more “permissionless” because of the diminished power of traditional gatekeepers

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Via Axios – PERMISSIONLESS: What It Means, How It Happened, Will it Last: “While the Internet revolution enabled “permissionless” business models in finance, entertainment & politics, such unregulated disruptors are under growing attack. From the tech sector to the White House, many object to the divisions these new actors exacerbate or the externalities they often… Continue Reading

Top Lawyers Give Props to Their Mentors

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Law.com/National Journal: How I Learned ‘Basically Everything’: Lawyers Give Props to Their Mentors – “We asked more than a dozen leaders in Big Law, small law, corporate legal departments and academia to tell us about the people who shaped their career.. Every lawyer has to start his or her career somewhere. And in the backstory… Continue Reading

Reports – Law firms are having the best financial-growth year in about a decade

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ABA Journal: “Law firms increased revenues this year, posting gains during the first three quarters that are the best in about a decade, according to two new reports. The numbers differed slightly, but the conclusion was the same: 2018 is shaping up to be a good year, thanks to higher billing rates and higher demand… Continue Reading

Amazon’s AbeBooks backs down after booksellers stage global protest

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The Guardian: “After almost 600 booksellers withdrew 3.5m books from the secondhand marketplace in support of countries dropped by the website, it apologises for a ‘bad decision’. An “extraordinary and unprecedented” global protest from antiquarian booksellers has forced the Amazon-owned secondhand marketplace AbeBooks to backtrack on its decision to pull out of several countries. AbeBooks… Continue Reading