Legal skills and practice Books

Book SynopsisProfit. What a simple term. To determine it, all one needs to do is take revenue and subtract costs and there you go: profit. From there it’s easy to determine a percentage and margin. So what’s so hard about law firm profitability? Profitability in Law Firms: Insight and Analysis provides practical and proven strategies for law firm leaders and managers who want to take their firms to the next level of performance and profitability. How can they increase their profitability and efficiency without compromising their quality and reputation? How can they leverage the power of technology, data, and innovation to create value for their clients and themselves? Law firms are facing unprecedented challenges in the current financial climate and therefore need profitability strategies to survive and thrive in a competitive and changing market.Table of ContentsExecutive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix About the authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xv Chapter 1: The law firm profit primer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 By Toby Brown, CEO, DV8 Legal Strategies Let’s get started . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Moving right along . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Putting it all together . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Core challenge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Chapter 2: KPIs for aligning strategy to enhanced client value and partner profitability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 By Steven Campbell, consultant, Acumen KPI Avoiding unintended consequences . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Don’t confuse margin (net income) and profits per equity partner (PPEP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Dashboards should focus on areas of greatest impact . . . . . . . . . . 14 Vision drives strategy – strategy drives effective KPIs . . . . . . . . . . . 17 Example law firm mission, values, and vision . . . . . . . . . . . . . . . . . . . 17 Non-financial KPIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 New tools to help measure and prioritize strategic action . . . . . . . 20 Effective KPIs should inspire action . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Chapter 3: Applying battlefield lessons during peace time – learnings from the COVID-19 pandemic . . . . . . . . . . . . . . . . . . . . . . . . . . 25 By Tim Corcoran, BringinTim The standard playbook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 The onset . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Lessons learned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 The long view . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Chapter 4: Linking partner and associate compensation to the achievement of a firm’s strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 By J. Mark Santiago, managing partner, SB2 Consultants Vision and strategy development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 How did we get here? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Compensating the rain dancers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 Contribution roles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Individual partner goal setting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Assessment and evaluation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Communicating pay decisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 The partnership compensation system . . . . . . . . . . . . . . . . . . . . . . . . 55 Closing the loop . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Chapter 5: Pricing approaches and firm profitability . . . . . . . . . . . . . . . . . 59 By Shaun Jardine, founder, Big Yellow Penguin Business development, clients, and positioning strategy . . . . . . . . 63 Understanding clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Create a pricing strategy and vision . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 Lead the change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 Chapter 6: The roadmap to £1,000,000 extra profit in three years . . . . . 79 By John McCarthy, profit coach, Summit Business Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 The P.R.O.F.I.T. system . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 The nine-step roadmap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 Implementing the P.R.O.F.I.T. system . . . . . . . . . . . . . . . . . . . . . . . . . . 83 The business blueprint . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 Not following the business blueprint . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 Following the business blueprint . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 How poor cash flow almost sank a law firm . . . . . . . . . . . . . . . . . . . . 89 The five cash flow levers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 The five cash flow levers being implemented . . . . . . . . . . . . . . . . . . . 93 Profitability and efficiency first, marketing second . . . . . . . . . . . . . . 94 Profit exercise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Implementing the profit maximizer . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 Don’t do what many other law firms do . . . . . . . . . . . . . . . . . . . . . . . 99 Focusing on effectiveness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Putting this into practice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Closing thoughts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Chapter 7: How a sound matter pricing strategy canelevate law firm profitability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 By Jack Kingston, account manager, BigHand Bringing in the best matters for your firm . . . . . . . . . . . . . . . . . . . . . . 104 Differing approaches for payment of legal services . . . . . . . . . . . . . 105 Chapter 8: Questioning the value of law firm rack rates . . . . . . . . . . . . . . 111 By Richard Brzakala, senior director, Global External Legal Services Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 Why RRB discounts are so attractive to CLDs . . . . . . . . . . . . . . . . . . . 112 The credibility of cost savings based on RRB data . . . . . . . . . . . . . . 113 The utilization of supplementary fees . . . . . . . . . . . . . . . . . . . . . . . . . . 114 Zero negotiation strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114 What are CLDs looking for? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115 Law firm reliance on pricing specialists and business intelligence tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 What CLDs want to see from firms utilizing a RRB strategy . . . . . . 118 The importance and value of transparency . . . . . . . . . . . . . . . . . . . . 120 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 Chapter 9: The next frontier in pricing strategy – capturing value from legal technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 By Stuart Dodds, principal, Positive Pricing Making sense of the legal technology landscape . . . . . . . . . . . . . . . 126 The partner’s perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 The client’s perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 The pricing professional’s perspective . . . . . . . . . . . . . . . . . . . . . . . . . 130 Pricing approaches adopted to date . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Key considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 What we can learn from the early adopters . . . . . . . . . . . . . . . . . . . . 136 Chapter 10: Harvey Specter – the ghost of a law firm reality yet to come . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 By Phil Nixon, senior sales executive, Elite Technology What is available and how will this impact legal services? . . . . . . . 141 Will you take the blue pill, or the red pill? . . . . . . . . . . . . . . . . . . . . . . . 143 Building the foundations for technological success . . . . . . . . . . . . . 143 Can technology actually help us become more profitable? . . . . . . 144 Improving profitability and WIP to cash with technology available today . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 Improving profitability and WIP to cash with one eye on the future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 A technology roadmap – getting your house in order . . . . . . . . . . . 150 Chapter 11: AI and what it means for law firm profitability . . . . . . . . . . . 155 By Wayne Hassay, managing partner, Maguire Schneider Hassay The ethics objection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156 The fear of change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157 The risks and emerging power of AI . . . . . . . . . . . . . . . . . . . . . . . . . . . 158 Making a smarter, more profitable, law firm . . . . . . . . . . . . . . . . . . . . 161 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Chapter 12: Sustaining success along the profitability journey . . . . . . . . 165 By Madhav Srinivasan, CFO, Proskauer, and Mitch Spradlin, pricing director, Hunton Andrews Kurth Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 Positioning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166 Goal setting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167 Matter management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168 Matter lifecycle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169 Resourcing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170 Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 Chapter 13: The seven profit zones formula for higher profits – without working more hours . . . . . . . . . . . . . . . . . . . . . . . . 175 By Michelle Peters, former practicing solicitor and founder, The Business Instructor Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175 A different approach – the seven profit zones formula for profitable growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177 Getting practical – how to increase each profit zone . . . . . . . . . . . . 182 Beyond ten percent increases – doubling your profits without doubling your clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 191 How long does it take to double your profits? . . . . . . . . . . . . . . . . . . 193 The implementation paradox – information vs action . . . . . . . . . . 194 Getting started . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 196 Chapter 14: The human cost of boosting profitability . . . . . . . . . . . . . . . . 197 By Richard Martin, principal consultant, Byrne Dean and CEO of the Mindful Business Charter Mental health in the legal profession . . . . . . . . . . . . . . . . . . . . . . . . . . 197 A couple of caveats before we start . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199 Why lawyers become lawyers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 199 Where’s the balance? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202 How profit is increased and the impact of that . . . . . . . . . . . . . . . . . 203 Doing more work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204 Reducing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205 Charging more or differently for work done and improved financial management . . . . . . . . . . . . . . . . . . . . . . . . . 206 A different approach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 207 About Globe Law and Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211

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Book SynopsisAttracting and retaining talent within the legal field is a key issue. Talent in the Legal Profession: How to Attract, Retain and Engage Top Talent sheds light on the pressing issues that law firms face in in order to secure and maintain top-level legal talent.

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Book SynopsisBoth Czech and Hungarian trusts celebrate their 10th anniversary in 2024. These modern structures were introduced in response to the limitations of earlier succession-planning mechanisms and, together with other legal instruments, provided new tools for wealth management, estate planning and asset protection, which have reshaped the estate-planning environment.Trust Laws in the Czech Republic and Hungary explores the issues and challenges encountered when introducing common law trust concepts into civil law legal systems. It also reviews the legal and practical aspects of trusts in these two quite different jurisdictions, and the book is divided into two parts which deal separately with Czech and Hungarian solutions.Authored by well-known experts in this field, chapters cover the basics of the structures, providing a broad overview of key points including:the legal and regulatory formalities;trustees: their duties and responsibilities;beneficiaries;taxation; andthe practical uses of trusts for estate planning and asset protection.This title provides the only systematic review of Czech and Hungarian trust laws in English. It is an invaluable reference work to help lawyers and other private client advisers structure their clients'' wealth. Additionally, professional trustees involved in the administration of Czech and Hungarian trusts, as well as accountants and tax advisers dealing with the tax treatment of trusts in the CEE region, will find this to be an indispensable guide.

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Book SynopsisWhy are companies so frequently sued in the United States, and how might these business litigation risks be avoided through preventative measures and more effectively managed? This book, now in its second edition, answers those two weighty questions. The central premise of the work is that costly and protracted lawsuits in the US are often traceable to unforced errors companies make time and again. By better understanding the sources of commercial litigation, including the various legal theories of plaintiff's lawyers and current litigation trends, preventive steps can be implemented, reducing these risks and saving the company millions in legal fees and liabilities. Kent Schmidt draws on over twenty-five years of experience defending companies throughout the US in almost every conceivable type of commercial litigation. He applies a lessons-learned approach from these experiences, to examine how companies can create a unique litigation risk profile to identify and address their primary litigation vulnerabilities. The second part of the book outlines how companies embroiled in US litigation can manage the process, from the filing of the lawsuit, expensive discovery, trial or arbitration and various dispute resolving opportunities along the way.The book is written for a diverse audience. Attorneys, whether in-house or outside counsel, will find it a useful desk-reference for quickly accessing relevant information and issue-spotting for their clients. The book is equally accessible to non-lawyers anyone whose responsibilities include managing US litigation risks. These persons include those in venture capital, CFOs and other members of management, risk management and compliance professionals, and entrepreneurs seeking to implement best practices as they launch a start-up or expand to US markets.The second edition includes a number of key updates: tracking litigation trends, new US regulations emerging public policies, particularly in the area of ESG-driven lawsuits, privacy litigation, enhanced mandatory disclosures protecting consumers, new employee liabilities, and a host of other cutting edge litigation risks.

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Book SynopsisEssential Reads for the Modern Lawyer draws on Globe Law and Business' Modern Lawyer journal's wealth of opinion pieces, interviews and thought leadership, which together comprise an invaluable and wide-ranging analysis of the topics that really matter to those working throughout the legal ecosystem.

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Book SynopsisA worldwide revolution in dispute resolution is unfolding. Public justice systems are turning to offer fair access to a fundamental human right: justice online. Online Dispute Resolution looks at this fundamental change that the digital revolution has brought and will bring to the provision of legal services.

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Book SynopsisThis comprehensive handbook makes essential reading for all practitioners who advise business families, including lawyers, accountants, financial advisers and wider family business advisers.

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Book SynopsisIn this second edition of The Art and Craft of Judgment Writing, Max Barrett, an experienced and practising judge working in Ireland, will not only enhance your judgment writing skills but elevate them to a new level of clarity, precision and style.

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Book SynopsisThis book is provides a comprehensive review of the legal status of minority languages in the U.S. It also provides the historical and political context for the legal manoeuvring that culminated in landmark civil rights victories. All of the major cases in the U.S. concerning language rights are discussed in detail and in an easily accessible manner to the non-legal audience. The topics range from the English-only movement to consumer law, employment discrimination to international law.Table of ContentsAcknowledgments Introduction 1 A History of Language Rights: Between Tolerance and Hostility 2 Nativism and Language Restrictions: Echoes of the Past at the End of the Twentieth Century 3 Fulfilling the Promise of Citizenship: English Literacy, Naturalization, and Voting Rights 4 Language Rights in the Workplace: Negotiating Boundaries Within Close Spaces 5 Language Rights in Litigation: Making the Case for Greater Protections in Criminal and Civil Proceedings 6 Bilingual Education: Learning and Politics in the Classroom 7 Native American Education: The US Implements an English-Only Policy 8 Due Process and Governmental Benefits: When English-Only is Enough 9 Commerce and Language Minorities: Remaking Old Laws for New Consumers 10 The Place of International Law in Promoting Linguistic Human Rights Within the United States Appendix: Title VI of the Civil Rights Act of 1964

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Book SynopsisThis vital report is the only textbook of its kind for practitioners in this complex area of law. Since 2002 this essential resource has continued to fulfil its promise of: Enabling compensated persons to understand and obtain the best deal from the means-tested benefits system through the use of personal injury trusts; Enabling solicitors to unravel the mystique surrounding the foundation and administration of personal injury trusts and to equip them to fulfil their role better for it; Enabling solicitors to develop compensation protection services to help protect their firms from negligence claims and to improve the bottom line; and enabling solicitors to do these things in as efficient and as practical a way as possible with the greatest amount of professional peace of mind. The fourth edition has been fully updated to include: The significant changes by the mental capacity act 2005 which came into force fully on 1st October 2007; A revised and expanded property section with specific focus on purchasing property where there is a P I Trust in place or where the Court of Protection are involved; 2008 changes to the care rules and Employment and Support Allowance, which has replaced Incapacity Benefit for new claimants; Plus, new and up-to-date precedents. It is vital that every lawyer doing personal injury compensation work should have a copy of this book on their shelves to enable them to give truly comprehensive advice as to the final process in achieving compensation.Trade Review'Anyone who buys this edition has no excuse for failing to understand what to do and how to protect his/her clients. It is a valuable addition to the armoury of any personal injury lawyer who is seeking to maximise the damages for his/her clients. It should be one of the growing number of essential books, necessary to have on one's bookshelf.' Robin de Wilde, Q.CTable of ContentsChapter 1: An overview of personal injury trusts Introduction Getting over the fear factor What exactly is a 'personal injury trust'? Do all personal injury clients need advice on personal injury trusts? Does advice on personal injury trusts only need to be given to those already in receipt of means tested benefits? Do personal injury trusts have tax advantages? Do personal injury trusts help clients retain entitlement to means tested benefits? Timing: when is it 'too late' to found a personal injury trust? Independent financial advice and the Trustee Act 2000 (TA 2000) A summary of the financial obligations of trustees of personal injury trusts The Solicitors' Accounts Rules 1998 and personal injury trusts Thinking long term Summary of Chapter 1. Chapter 2: Choice of personal injury trust Why is it important to consider different types of personal injury trusts? The implications of the 2006 Budget upon the choice of personal injury trust Underlying considerations behind the choice of a personal injury trust Types of personal injury trusts Original Section 89 IHTA trusts for the disabled Making a decision over the choice of trust Finance Act 2006: the implications for pre 22 March 2006 personal injury trusts and future personal injury trusts The extension of Section 89 IHTA trusts for disabled persons The capital gains tax principal private residence exemption, ordinary discretionary trusts and Section 89 and 89A trusts Summary of Chapter 2. Chapter 3: Getting technical - means-tested benefits Benefits implications of personal injury trusts A brief overview of benefits Mainstream income-related means-tested benefits and awards for personal injury A word about tax credits Residents in long-term-care and the receipt of personal injury awards Personal injury trusts and care provided at home Additional notes on personal injury trusts and means-tested benefits Pension credit. Chapter 4: Choice of trustees Can a settlor be a trustee of his/her own personal injury trust? How many trustees should there be? Are friends and family suitable trustees? Are professional trustees appropriate? Can trustees be beneficiaries? Can a trustee live abroad? How old should a trustee be? Who should never be a trustee? When does trusteeship take effect? Summary of Chapter 4. Chapter 5: Personal injury trusts and investment Introduction Defining and meeting the investment challenge Modern Portfolio Theory and its implications for trust investment policy Building an asset class portfolio - the basics Selecting and working with a financial adviser Summary of Chapter 5 and conclusion. Chapter 6: Periodical payments A brief history Why have few structured settlements been implemented in the past? The Courts Act 2003 Can periodical payments be assigned or charged? What about variable periodical payments orders? Are periodical payments treated any differently than a lump sum for benefits entitlement? The viability of periodical payments and indexation The indexation of periodical payments The indexation issues RPI The Annual Survey of Hours and Earnings (ASHE) 6115 Other elements The creation of a two-tiered system The advantages of periodical payments The disadvantages of periodical payments Other issues Conclusions. Chapter 7: Personal injury trusts and the Court of Protection Introduction Jurisdiction The Court of Protection and personal injury trusts Why apply to found a personal injury trust for a patient ? Should the deputy be retained? Worked example of an application for a personal injury bare trust Court of Protection Application form Guidance notes Court of Protection Annex A Supporting information for property and affairs applications Court of Protection Assessment of capacity Guidance notes Court of Protection Witness statement. Chapter 8: Will-making in the context of personal injury bare trusts Executors The beneficiaries Indecisive testators 'Letters of Wishes' Property issues and succession Inheritance tax planning in the context of personal injury trusts Death of family members and benefits-related planning Death of carers Other potentially important matters Summary of Chapter 8. Chapter 9: Property transactions and personal injury trusts The natural link between personal injury trust work and property transactions What are the advantages of the trust framework for a purchase? Practical issues to consider on a purchase Legal issues to consider on a purchase prior to exchange of contracts Legal issues on a purchase post completion What are the relevant tax-related issues for personal injury trusts and property transactions? Worked examples of property transactions and personal injury trusts. Chapter 10: Personal injury trusts - some problem areas Fatalities cases Professional negligence compensation Other types of compensation Past care awards Divorce Disagreement among the trustees Can the defendant reduce the award if a personal injury trust is contemplated? The implications for litigators The choice and use of powers comprised in a personal injury trust. Chapter 11: General precedents Precedent covering letter and guide for clients Precedent Pro Forma Instructions Precedent Guidance for Beneficiaries and Trustees Precedent Guide on Compensation Protection Trusts for Benefit Paying Agencies Including the Local Authority Precedent Resolution to Distribute. Chapter 12: Drafting personal injury trusts The fundamental responsibilities of the draftsman in using these personal injury trust precedents The style of the following personal injury trust precedents Who may legally draft a personal injury trust? Common factors contained within the personal injury trust precedents Uncommon factors contained within the personal injury trust precedents Precedent for a Personal Injury Discretionary Settlement: Notes Precedent for a Personal Injury Flexible Life Interest Settlement: Notes Precedent: Personal Injury Bare Trust: Notes Precedent for a Personal Injury Bare Trust: Mentally Capable Adult Precedent for a Personal Injury Bare Trust: Court Order for a Minor under rule 21.11 of the Civil Procedure Rules 1998 Precedent for a Personal Injury Bare Trust: Court of Protection for a Mentally Incapable Beneficiary Precedent for a Personal Injury Life Interest Settlement: Court of Protection for a Mentally Incapable Beneficiary Precedents for Personal Injury Section 89 IHTA 1984 Trusts for the Disabled: Notes Precedent for a Personal Injury Section 89 IHTA 1984 Trust for the Disabled: Wide Form Precedent for a Personal Injury Section 89 IHTA 1984 Trust for the Disabled: Narrow Form for a Mentally Incapable Person Examples of the Type of Further Provisions the Draftsman May Also Choose to Incorporate. Appendix 1: The Standard Provisions of the Society of Trust and Estate Practitioners (1st Edition) Appendix 2: Paying family carers: income tax and national insurance issues Appendix 3: A practitioner's guide to Court of Protection property procedures Index

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Book SynopsisRisk management within law firms is a rapidly developing area. In the last year economic changes alone (the term 'credit crunch' was as yet unheard of when the second edition was written) have served to highlight the need for your risk management strategy to be under constant review. The credit crunch raises the game for all firms substantially, bringing to the fore issues involving: People; Clients; Regulatory risk; and Insurance. This report, substantially increased in size to deal with the emerging issues, aims to give you a clear understanding of how they will affect your law firm and how you need to respond, in order to manage them effectively. The third edition covers: Solicitors Regulation Authority (SRA) monitoring and enforcement of the Solicitor's Code of Conduct 2007; The Legal Services Act 2007 and the risks it presents; and A review of compliance with the Money Laundering Regulations 2007 - a year after their implementation on 15 December 2007. The report guides you through the distinct requirements of a risk management system including: Responsibility at senior management level; A framework for managing risk across all parts of the business; Integration of risk management processes into firm culture; Accountability in each practice area and support function; A risk evaluation process; External assessment; and Business continuity planning. Subjects covered include: Credit crunch risks; People and culture issues; Client engagement; Finance; Protecting partner assets; Compliance; File auditing; Managing your insurance; Office systems; Location and premises issues; Professional indemnity insurance; And more - Risk Management for Law Firms, 3rd Edition provides an in-depth analysis of key risk areas within the firm and aims to help firms meet new and emerging challenges with clear, practical examples.Table of ContentsChapter 1: Risk management today Risk management - now a statutory obligation What should be included in a risk management strategy? The returns on investing in risk management. Chapter 2: People risk Supervision Factors affecting risk management Equality and diversity Lateral hire and recruitment risk. Chapter 3: Compliance and regulation Solicitors Regulation Authority (SRA) inspections File audit Regulation Conduct rules Consequences of breach How does the SRA find out about breaches? Anti-money laundering and counter-terrorist finance compliance The Money Laundering Reporting Officer (MLRO) Risk management - not just about business prevention, but about business development Financial services Insurance mediation Mortgages Introductions and referrals. Chapter 4: Client risk in a recession Acting for friends and family Rule 2 Limiting the scope of duty The credit crunch and risk International jurisdictions and risk. Chapter 5: Professional indemnity Introduction Obtaining cover Aggregation The proposal Other types of insurance. Chapter 6: Financial management Partner borrowings Who can open accounts? Secret profits Regulatory Settlement Agreements. Chapter 7: Limiting liability The reasonableness test Limiting liability in litigation Professional restrictions on limiting liability Scope of duty Limiting liability in practice. Chapter 8: Office systems Confidentiality Document retention Information technology Data protection Business continuity Outsourcing Reputational risk Implementing a risk management strategy Index

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Book SynopsisIn an era in which law firm performance is increasingly public - and a determining factor for where the best lawyers decide to practise - it seems clear that firm management would want to adopt tools that are proven to improve performance. An increasing number of firms are now adopting this long established tool and there is growing evidence that firms which employ balanced scorecards to drive strategy implementation have significantly improved shareholder returns. Balanced Scorecards for Law Firms report provides a vital introduction for firms wanting to know more about how the balanced scorecard can improve their own firm's performance. The report and the tools explained within it reach well beyond revenue per lawyer and profit per equity partner to identify meaningful measures and actions related to the development of quality people, highly satisfied clientele, and superior business practices and processes. Specifically, the report will give you a clear understanding of: The balanced scorecard concept and tool, its practical application and the results you can achieve from its adoption; How to apply the concept in a law firm environment - the central opportunities and challenges the tool presents for law firm management; and Each of the major elements of a balanced scorecard - with an emphasis on their meaning in a law firm environment: Financial measures; Client measures; Learning and growth; and Business processes. Balanced Scorecards for Law Firms provides you with pragmatic advice, real world case studies and invaluable expertise to help you begin utilising a tool that can dramatically improve focus, accountability and execution of strategy. Begin outperforming your competitors in an increasingly difficult and aggressive market place.Table of ContentsPart One: Theory and practice of implementing balanced scorecards in law firms Chapter 1: The balanced scorecard - an overview of Kaplan and Norton's system; The balanced scorecard in its most basic form; The balanced scorecard as a management tool Rationale and arguments for the balanced scorecard; Looking forward towards law firm adoption. Chapter 2: Applying the balanced scorecard in a law firm environment - opportunities and challenges; Nature of the opportunity; Linkages to profit per partner; Effective implementation; Practice group performance; Challenges to adopting balanced scorecards in law firms. Chapter 3: Financial measures - applying the financial element; High-level objectives; Profit drivers; The constricting denominator - equity partnership; Conclusions. Chapter 4: Client relationship measures - applying the client satisfaction element; High-level objectives; Strategies and action plans driving client relationships; Conclusions. Chapter 5: Business process measures - applying the business process element; High-level objectives; Strategies and action plans for internal process improvement; Alternative fee arrangements; Conclusions. Chapter 6: Learning and growth measures - applying the people/capability dimension; High-level objectives; Strategies and action plans; Organisational capability assessments - an alternative approach for aligning capabilities with strategy; Conclusions. Chapter 7: Implementing the balanced scorecard at the firm level - a 'how to' primer; Information gathering and background analysis; Vision and strategic plan development; High-level objectives; Engage the practice groups; Dialogue, evaluation and adjustment. Chapter 8: Implementing the balanced scorecard at the practice group level - a secondary 'how to' primer; Information gathering and background analysis; Vision and strategic plan development; High-level objectives; Action planning and balanced scorecard development; Dialogue, evaluation and adjustment. Part Two: Applying the balanced scorecard: case studies Case study 1: Client relationship drive at Mallesons Stephen Jaques; Background; Vision, strategy and high-level objectives; Integrated implementation and metrics The results. Case studies 2-4: Using client feedback to inform relation strategies; Background and strategic context; Overview of firm experiences with client feedback; Differentiation Case study: moving from pilot to purposeful programme; Case study: client feedback and strategic planning. Case study 5: Bryan Cave - An integrated, balanced approach to strategy implementation; Background and introduction; Strategy development; Integrated approach to implementation; Results; Index.

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Book SynopsisWith the introduction of Alternative Business Structures fast approaching and more and more partnerships converting to LLP status to meet the new requirements and remain competitive - now may be the time to start considering the benefits of conversion for your own firm. The conversion process can be a challenging one with wide-reaching implications. But a successful LLP conversion can provide the ideal opportunity to review your core business operations, allowing you to plan positive change and growth in an increasingly competitive and changing market. Managing Partner's new report on LLP Conversion for Law Firms provides a highly practical, step-by-step guide specifically taking into account the unique considerations that are raised by today's economy and evolving legal marketplace. It highlights the key questions that need to be asked during the preparation and transition stages, as well as how to deal with the complications that may arise after conversion has taken place. Key topics covered include: + Converting from a partnership to an LLP - key considerations and trends; + Advantages and disadvantages of converting from a partnership to an LLP; + Preparatory work and practical issues involved; + The default provisions and their drawbacks; + Tailoring the LLP agreement to reflect the needs of your firm; + Transferring the existing partnership business into the LLP - key issues and contractual obligations; + The general tax treatment of limited liability partnerships - possible complications that may arise after the conversion and how they might be handled; + Management and technical resources involved in the conversion - Is outsourcing an option? + The implications of the Legal Services Act 2007 and the introduction of Alternative Business Structures. LLP Conversion for Law Firms includes valuable behind-the-scenes access to existing LLPs and the common pitfalls and successes they encountered through the conversion process. In addition, you will also find a precedent for an LLP agreement within the Appendix. Whats more ...this publication comes complete with a complimentary CDRom containing all the required forms for an LLP agreement in an easy to access format. About the author Nicholas Wright is chief executive of Wright Son & Pepper. He has specialised in LLPs and professional regulation for over 15 years and has been a member of the Solicitors' Assistance Scheme for most of that time. He has acted for a number of substantial firms in dealing with regulatory issues, as well as dealing with drafting, restructuring issues and disputes.Table of ContentsExecutive summary............................................................................................................. V About the author................................................................................................................IX Acknowledgements ............................................................................................................XI Disclaimer........................................................................................................................XIII Table of legislation............................................................................................................XV Chapter 1: Introduction...................................................................................................... 1 The definition of an LLP conversion ........................................................................................ 1 The trend towards LLP conversion........................................................................................... 1 Chapter 2: To convert or not to convert? ............................................................................ 3 Reasons for conversion.......................................................................................................... 3 Chapter 3: Preparing for conversion................................................................................... 7 Potential issues .................................................................................................................... 8 Chapter 4: Forming the LLP.............................................................................................. 11 Chapter 5: Converting under the default regime .............................................................. 13 The default provisions and their potential dangers................................................................. 13 Chapter 6: Drafting the LLP agreement ............................................................................ 19 The name........................................................................................................................... 19 The registered office of the LLP............................................................................................. 20 The LLP’s business............................................................................................................... 20 Commencement, duration and place of business .................................................................. 21 Accounting and funding ...................................................................................................... 21 Funding of an LLP ............................................................................................................... 21 Members............................................................................................................................ 22 Designated members .......................................................................................................... 22 Withdrawal of capital .......................................................................................................... 23 Contents IV Profits and losses ................................................................................................................ 23 Voting and decision making................................................................................................. 23 Employee members............................................................................................................. 25 Provisions for retirement ...................................................................................................... 26 Provision for expulsion......................................................................................................... 27 Non-competition clauses .................................................................................................... 29 Other matters to consider.................................................................................................... 29 Insolvency and winding up................................................................................................... 29 Chapter 7: Transferring the business – In practice............................................................. 31 Transferring client matters.................................................................................................... 31 Salaried partners – The criteria to be a member in the LLP..................................................... 33 Chapter 8: Accounting and taxation ................................................................................. 35 Appointing auditors............................................................................................................. 35 Taxation ............................................................................................................................. 35 The costs of a conversion .................................................................................................... 37 Chapter 9: Managing the conversion project ................................................................... 39 Create a list of the requirements for conversion..................................................................... 39 Managing the conversion in-house or externally? .................................................................. 41 Ensuring minimum disruption when transferring client matters................................................. 42 The potential problems arising after a conversion.................................................................. 44 Chapter 10: LLPs and ABSs .............................................................................................. 49 Case study 1: Kingsley Napley – A conversion in practice ................................................. 53 Reasons for conversion........................................................................................................ 53 A step-by-step process......................................................................................................... 54 Case study 2: Retirement under the default provisions and accounting under the SARs ..... 57 Appendix: An illustrative example of an LLP agreement .................................................... 61 Index ............................................................................................................................... 87

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Book SynopsisThe law is a 'knowledge' business. The success of any law firm depends on the expertise and skills of the people who work in it. The Legal Training Handbook is a guide for anyone who has responsibility for any level of training in a firm or an in-house legal department. This concise handbook includes: what would-be employers can expect their prospective trainees to have been taught what is expected of 'supervisors' of trainees the standards trainees must achieve what training obligations qualified solicitors have to satisfy. A new addition to the Law Society's range of practical handbooks, this guide is fully up-to-date covering: the recent recommendations of the Legal Education and Training Review (LETR) the recommendations' initial implementation by the frontline regulators including the SRA the revised SRA Training Regulations and the new Code. This timely and user-friendly publication discusses why your firm should invest in training and how to measure the results. It analyses both the commercial and the regulatory aspects of training. Legal Education and Training Handbook is thorough and primarily suitable for medium to large size law firms in England and Wales.It would also be of interest to other legal professionals, such as barristers, licensed conveyancers and IP practitioners.Table of Contents1. Why invest in training?; 2. Structure and ownership of training; 3. Commitment and 'buy in'; 4. Measuring the ROI; 5. Regulatory bodies in England and Wales; 6. Routes to qualification after the LETR; 7. The education and training framework for solicitors; 8. Regulatory responsibilities for firms; 9. Designing training; 10. E-learning; 11. Making training effective; 12. Delivering training; 13. Training within the firm pre-training contract; 14. Training within the firm during the training contract; 15. Training within the firm post-qualification; 16. Training after the LSA 2007 (ABS and support staff); 17. Overseas qualified lawyers and overseas offices; 18. Training for clients; 19. Strategic, tactical, operational and financial aspects of the training function; 20. Training after the LETR.

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Book SynopsisIf you were to liken your firm to a restaurant, would it be a Rules? A Nobu? A Fat Duck? A Pizza Express? Or a McDonald AZs? All of the above have a successful business strategy based on the needs of their target market. Could you say the same for your firm? In an increasingly competitive and changing legal market, knowing where and how to compete through the implementation of a clear strategy is crucial to ensure a profitable future for your firm. AZs report A C The Strategic Law Firm A C will help you analyse your firm AZs core strengths and capitalise on them by developing a coherent business strategy for success. Specifically this report will help you: Identify your strengths and priorities; Understand and implement the key elements of a successful strategy - value proposition, client segments, client relationships, provision of services, revenue, key resources, key activities, cost structure, partners; Visualise, understand, review and tailor your business model; Build the right focus for your firm (industry, client or transaction based); Align your teams and leaders to target the right clients and industries; Understand disruptive models; and more The report further sets out the practical details of how a strategy planning day should be organised - before, on, and after the day, including: A series of nine potential exercises ranging across values alignment through to market segmentation and scenario analysis; Specific worked examples of ways to calculate team financial and contribution measures; Capturing the outcomes into one page plans, which can be utilised at firm, team and individual level to drive your ongoing agendas; and Useful examples, checklists and templates for immediate implementation. This uniquely practical report will help you devise an effective strategic vision for your firm, and provides the tools to ensure that vision is achieved.Table of ContentsWhy is business model analysis important?...1 The multi-team complexity... 1 Using a visual business model approach in context...2 Strategy and business models... 3 The multi-team model...3 Value, values and vision...4 Business models and innovation...5 The importance of process...7 Some key assumptions...7 Part One: The Strategic Business Model Chapter 1: The strategist AZs dilemma...13 Strategy and the firm AZs business model...13 Leverage and strategy...15 The key ingredients of a strategy...17 Chapter 2: Analysing your current model visually...21 The nine key elements of a business model... 21 Applying the model to the classic multi-team firm...24 Shaping a more coherent strategy...25 Chapter 3: Applying the model in the real world...31 Example one A C The boutique firm (immigration practice)...31 Example two A C The boutique firm (property practice)...33 Example three A C The boutique firm (industrial practice)...33 Example four A C The commercial firm (small practice)...34 Example five A C The commercial firm (larger practice)...35 Example six A C The commercial firm (industry focus)...37 Chapter 4: Building an industry and client focus...41 The benefits of an industry focus...41 The code list for industry classification...41 Managing the transition...44 Using a transaction-based focus to build industry expertise...45 Focusing at the transaction level...46 Other issues in managing a firm AZs focus...48 Managing the tensions...49 Profit allocation...49 A recapitulation of the key strategic benefits...50 Chapter 5: Firm structure and strategy...53 Some common examples of organisational structures in law firms...55 Roles and responsibilities in law firms...56 New and emerging structures...58 Comparing the merits...61 Emerging models...61 Chapter 6: Disruptive innovation and new models...63 Disruptive models...63 Disruptive models and the legal profession...64 Susskind AZs prognosis...65 Chapter 7: Innovation and the law firm...71 De-regulation of the legal sector...71 Demographic change...71 Globalisation...71 Technology...72 Public perception and expectations...72 Diversity...72 Clients...72 Trends and their impact on the classic law firm model...73 Why is innovation important?...74 Trends and the rule of law...75 Part Two: Due Process Chapter 1: Consensus, commitment and implementation...79 Business models and consensus...79 Implementation...79 Before the day... 81 On the day...81 After the day...81 Chapter 2: Before the day...83 Data collection...83 Interviews...84 Industry focus...85 Analysing for suitable industries...86 Competitor research...87 Agreeing the agenda...87 What if there is no obvious agenda?...89 Chapter 3: On the day...91 Setting the scene...91 Promoting reflection and useful discussion...91 Key issues...92 Particular tools to use on the day A C Utilising the business model canvas...92 SWOT A C Analysing capabilities, opportunities and threats...97 Scenario planning A C The external environment...98 Which horse(s) to back A C Team analysis...101 Team strengths and prospects...101 GE-McKinsey analysis...103 Industry-focus exercise...105 How does the firm progress an industry-based approach?...107 A multi-team example...108 The profit exercise...110 The contribution exercise...113 The what-you-need-to-get-started exercise...113 What does the example reveal?...116 Why is there such a difference?...117 Improving accuracy of the analysis...118 Potential pitfalls...118 The pricing exercise...121 The values exercise...123 Chapter 4: After the day...127 The outputs from the day...127 Implementation plans...127 Incorporating the outcomes into the budget...128 A cautionary note A C Too many initiatives?...129 The planning imperative...130 Incorporating outcomes into appraisal processes...135 Where does this all fit in the firm diary?...136 The personal development plan...137 Financial...139 Client...140 Systems and processes...140 Growth and learning...141 Index...143

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Book SynopsisWant to know how to - Successfully market, brand and sell yourself in this digital era? Generate GBP500,000+ of new client work enquiries in a year? Have more choice, change and control in the direction of your career, business or life? And be entertained whilst being informed? If your answer is YES then the naked lawyer is essential reading for you - Packed with examples, case studies and 'to do's' focusing on 10 key elements (with hundreds of proven successful steps, tips, hints and secrets) this inspirational book will show you how to get more clients, sales, referrals, income, value, growth and success. Within the report, author, lawyer and entrepreneur, Chrissie Lightfoot reveals the ROAR (Reach Out And Relate) model, a successful blueprint detailing how, as a trainee solicitor and newly qualified lawyer (during the 2009 recession), she achieved GBP562,000 of new client legal sales generation enquiries and referrals. From start to finish the naked lawyer will provide you with a complete strategy and skills toolkit for brand, career and business development - covering key areas including: Devising an effective personal brand; Using social media to build brand, win business and enhance relationships with clients; Innovation; Getting referrals and winning business; Creating a strategy and mindset for success; Communication; Client relationship management; and much more...Trade Review"the naked lawyer is not for the timid. It is for the BOLD. It is for the SAVVY. It is for the OPPORTUNIST. Right from the start you are confronted by the bare naked truth - for those who get itA" you will not read this once. It will be well worn because it will be a constant reference for you." - Dr Richard Norris, self leadership, performance & legacy coach, MBA, author of 'Hoof it! 7 Key Lessons on Your Journey of Success.' Your approach to 'developing and marketing' business for law firms is such a breath of fresh air - especially in terms of formulating innovative ideas for firms to move forward post the Legal Services Act." - Charlotte Black, Solicitor, Travlaw LLP. "the naked lawyer is a truly motivational marketing and sales book - and with the current shake-up of legal services comes at a particularly opportune moment." - Tim Kevan, Barrister (non-practising), Guardian law blogger, author of 'Law and Disorder' and co-author of 'Why Lawyers Should Surf.' "This well written and important work will change our lives for the better, it has already improved and touched mine." - David Gabor, Attorney at Law, New York.' "I'd highly recommend this book to any lawyer who is serious about thriving in the new connected world." - Steve Kuncewicz, Intellectual Property, Media & Entertainment Lawyer, author of 'Legal Issues of Web 2.0 and Social Media.' "I'm just going to say that the author of a book about sales and marketing which compels you to read it as strongly as the naked lawyer does clearly knows a thing or two about rainmaking." - Peter Groves, IP Lawyer (30 years experience), author of 'A Dictionary of Intellectual Property."Table of ContentsVolume 1: RIP - announcing the ROAR model...5 what's the problem?...5 why am I writing the naked lawyer?...8 what you're about to experience...16 getting the most out of the naked lawyer - ...18 Volume 2: wakey wakey rise and shine...27 RIP - announcing the ROAR model...27 get a grip...27 Big Rocks...35 emotionally intelligent or emotionally defunct?...37 master of my own mutiny...46 ethicability unleashed...52 weird mindset, wicked attitude...57 after dark activity...65 ROAR summation...69 Volume 3: slowly slowly catch a nichey...71 wakey wakey rise and shine...71 Big Rocks rolling...73 trendy turn on...76 karma sutra professional specialty...81 initiative rules! OK?...84 after dark activity...89 ROAR summation... 90 Volume 4: getting under your skin...93 slowly slowly catch a nichey... 93 what's in a name?... 94 personal brand creation... 96 brand unstable?... 99 'Brand,Me'... everywhere!... 103 after dark activity... 105 ROAR summation... 106 Volume 5: raving referral lobsters rule!... 107 getting under your skin... 107 referral lobster net-kingdom... 109 ready to rave?... 117 dirty dancing with Big Rock lobsters... 119 fish nets!... 120 after dark activity... 121 ROAR summation...123 Volume 6: social savvy junkie... 125 raving referral lobsters rule... 125 why why why delilah?... 127 what a load of twaddle...131 building my network fast... to last ... 132 high five junkie! ...135 bust a gut daily work out... 145 after dark activity... 147 ROAR summation... 152 Volume 7: nurturing fuzz to get more buzz... 153 social savvy junkie... 153 cannon ball fun... 155 massage oil, not snake oil ... 157 what's all the fuzz about?... 159 mouse wrap... 160 after dark activity... 162 ROAR summation... 162 Volume 8: talking dirty to a saint when I'm a pure little devil...165 nurturing fuzz to get more buzz...165 dynamic three-way... 165 press send, receive jibber-jabber... 169 stunning straplines... 170 V going deep... 172 after dark activity...175 ROAR summation... 176 Volume 9: touch, touch and touch me again... 179 talking dirty to a saint when I'm a pure little devil... 179 we're engaged!... 181 i like retaining you... 183 i love maintaining you... 187 after dark activity... 189 ROAR summation... 189 Volume 10: continual stimulation... 191 touch, touch and touch me again... 191 innovate everything!...192 trouble and strife... 195 forward to a stimulating future...197 after dark activity... 201 ROAR summation... 202 Volume 11: yes! yes!! yes!!!...205 continual stimulation...205 continual improvement...205 continual savvy and nous... 206 continual performance...209 after dark activity... 211 ROAR summation...212 Volume 12: XXX rated - tomorrow's lawyer... 215 yes! yes!! yes!!!...215 XXX rated... 218 after dark activity... 225 ROAR summation...225 afterword... 229 what's next pussycat?...229 get in touch...229 get naked...230 glossary...231 inspiration...233

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Book SynopsisWith rising competition putting pressure on law firms to raise their performance levels, Alan Hodgart's much anticipated report on Performance Measurement for Law Firms could not have come at a better time. Hodgart, an acknowledged industry expert, provides practical step-by-step guidance on how to effectively measure the performance of your fee earners, core support functions and overall firm. Hodgart highlights the key challenges many law firms face when measuring performance and provides critical advice on how to tackle them successfully through the development of an effective performance measurement system. Key topics covered include: * Measuring performance in law firms - what it means and what to measure; * The key financial measures of profitability and how to calculate them - cost, profit, revenue; * The data and financial information required at firm and practice-group level; * The effective use, and abuses of financial data; * Aligning the economic structure of your type of work to maximise profitability; * Implementing an effective performance measurement system; * How to measure the performance of your fee earners and support staff - finance, IT, Marketing, HR, KM and other; * Client profitability, project management and much more - The report focuses particularly on profitability and demonstrates how it can be used to monitor and compare the outcomes of working with different clients to project future revenue and profit levels. It also includes a useful appendix - an 'Economic Template' which demonstrates how to assemble the relevant data to manage the financial performance of your firm. Performance Measurement for Law Firms is essential reading for any firm looking to measure and enhance all areas of their performance.Table of ContentsChapter 1: Measuring performance in law firms - What it meansand what to measure...1 Chapter 2: The key financial measures of profitability ...7 Example one - The difference between cash and profit ...9 Example two - Impact of revenue definition on Revenueper Fee Earner (RFE)...11 Example three - Impact of revenue definition on averageprice per hour ...12 Example four - Cost and leverage per equity partner ...16 Chapter 3: The uses and abuses of financial data ...21 Determining the right economic structure for the type of work ...22 Chapter 4: Measuring fee-earner performance ...31 Chapter 5: Measuring the performance of support functions ...35 The finance function ...35 The marketing function ...37 The HR function ...38 The IT function ...39 Other support functions ...40 Chapter 6: Client profitability and project management ...41 Chapter 7: The art and science of measuring performance ...47 Chapter 8: Issues in setting budgets for the next financial year ...51 Setting budgets ...53 Looking ahead ...56 Chapter 9: Setting fees that balance the firm's and client's interests ..57 The law firm perspective - Profitability ...57 Key profitability drivers ...59 The client perspective - Value ...60 Pricing - Balancing profitability and value ...61 Project management, pricing and profitability ...63 Chapter 10: Deleveraging - The case for and against ...65 Chapter 11: Performance trends for the year ...73 Declining fee income ...74 Profits per Equity Partner (PEP) under pressure ...75 Top 11-25 at tipping point ...76 Funding under pressure ...77 Head counts falling ...78 A radical response ...79 Appendix 1: The economic template ...81 Index ...83

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Book SynopsisSo you AZre in A C or striving to be in A C The Lawyer AZs top 200. But are you being measured on what your clients actually find attractive? With increased demand for efficiency, value added services and effective governance, a ranking based simply on revenue is not sufficiently compelling. Having an effective governance model and the right measures of success in place are now vital to secure sustainable profitability for your firm. AZs report on Law Firm Governance and Measurements of Success provides a vital examination of: New governance models for law firms of different sizes and complexities; Law firm growth stages and the structural changes necessary to succeed; Overcoming the cultural barriers/issues involved with changing your governance and/or measurement systems; Current measurements of success A C internal and external; New medium and long-term success metrics to better support long-term thinking, and payment and reward structures; Attracting clients and external investors through effective reporting of your firm AZs success; and more Peter Blair, former first chief operating officer of Field Fisher Waterhouse provides cutting-edge analysis on The Lawyer AZs top 200 firms by examining what creates their success. Peter evaluates whether the measures used are effective and demonstrates how by using alternative metrics you can boost your rankings. Featuring real-life case studies this invaluable report provides a vital insight into current law firm governance models, examines where they are going wrong and how they can be improved to secure sustainable growth.Table of ContentsExecutive summary... V About the author...VII Acknowledgements...IX Part One: Effective Governance Models and Measurements of Success Chapter 1:The norm A C Or law firm 1.0... 1 Chapter 2: Other models... 7 International jurisdictions... 7 The US model... 9 Alternative business practices... 9 Chapter 3: 21st century governance A C Or law firm 2.0... 13 The small firm... 13 The medium-sized firm... 16 Example A C Firm C... 18 Supporting the business... 19 The larger law firm... 20 Partnership or limited company... 23 Chapter 4: Roles in the law firm... 25 Managing partner... 26 Senior partner... 27 CEO... 28 Board partners... 29 Non-board partners... 31 Non-executive board members... 32 Other members of the board... 32 Rotation... 33 Benefits... 33 Chapter 5: Change management... 35 Chapter 6: Current measurements of success... 39 Example A C Firm B... 41 Example A C Firm X... 42 Average changes A C 2009 to 2010... 43 Clifford Chance A C Average changes 2009 to 2010... 44 Chapter 7: Other measurements of success... 45 Chapter 8: New measurements of success... 49 Example A C Firm M and Firm N... 49 Example A C Firm X... 50 The starting point A C Revenue and PEP... 51 Net Profit per Fee Earner (NPpFE)... 52 Net Profit per Equity Partner (NPpEP)... 53 NPpEP as a percentage of revenue... 53 Example A C Firm H... 54 Net Profit per Total Staff (NPpTS)... 55 Summary of new external measurements... 57 Internal measurements... 58 Matter contribution... 59 Example A C Firm P... 60 Chapter 9: Improving performance... 65 Part Two: Case Studies Case study 1: Firm A... 69 An evaluation of Firm A AZs governance structure... 70 Case study 2: BrookStreet des Roches... 73 Case study 3: Ashton Graham... 77 Appendix: Law firm comparison data... 79 Index... 107

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Book SynopsisIn a highly competitive fee-focused environment, project management can be your law firm's lifeline. Project Management for Lawyers report provides a structured approach to planning, pricing and managing legal work that will boost profitability and deliver superior value to your clients. It aims to: *Demonstrate the value of applying project management to a legal practice; *Explain basic project management principles and how to apply them within your law firm; *Provide a simple legal project management framework; *Describe key tools and techniques to support the framework; *Discuss legal project management as a pricing and business development strategy; *Show how lawyers can manage matter profitability and demonstrate value to clients; *Guide lawyers in overcoming the challenges in managing a matter profitably (time, scope and cost); and, *Share practical advice on how to develop and implement a legal project management programme within your firm. Real-life in-depth case studies provide valuable insight into the successful legal project management programmes of Dechert LLP, Eversheds LLP, Seyfarth Shaw LLP and McCarthy Tetrault. A case study from the Royal Bank of Canada is also included to provide the a client's perspective on the value of legal project management. Project Management for Lawyers also comes with a complimentary CDRom packed with useful forms, templates, checklists and frameworks that can be used immediately in planning and executing your own project management programme. These include: *A generic work plan; *A sample staffing profile; *A sample agenda for a project kick-off meeting; *A sample roles and responsibilities sheet; *A client satisfaction review questionnaire; *A project risk log; *A sample change request form; *A sample monitoring worksheet; *An example of an agenda for a lessons learned session; *An example of how to calculate leverage on matter profitability; *A completed monitoring worksheet; and *A work plan for an asset purchase.Trade ReviewJuly 13, 2011 Book review: Project management for lawyers - Jim Hassett, LegalBizDev Project Management for Lawyers was written by two experts in this emerging field: Barbara Boake, a senior partner at McCarthy Tetrault, and Rick Kathuria, a certified Project Management Professional at the same firm. The book draws on their experience developing and implementing McCarthy's Dialogue Project Management system, so it is heavy on the kinds of "lessons from the trenches" that lawyers will find invaluable. And if that's not enough, Part Two of the book includes additional case studies written by experts from Dechert, Eversheds, and Seyfarth Shaw, and one from the client perspective at the Royal Bank of Canada. And if that's still not enough, it comes with a CD filled with forms, templates and checklists, including a generic work plan, a client satisfaction review questionnaire, a project risk log, a sample staffing plan, and a sample change request form. Chapter 1 makes the business case for project management, starting with the fact that "clients want to see a clearer link between the cost of legal services and the value of those services to their business." The authors also note that "The market has placed a premium on predictability, efficiency and cost control" and "Alternative fee arrangements pose a threat to firm profitability unless they can be priced and managed using some kind of project management framework" (p. 6-7). But the real value of the book lies not in the why of project management, but in the hard won wisdom of how to make it work. Consider, for example, what Ben Barnett and Colleen Nihill, authors of the Dechert case study in this volume, have to say about letters of engagement (p. 79): In the after glow and rush of a new client matter, scant attention is normally paid to defining specifically what the client has retained you to do. This oversight can haunt and even derail the entire project. Most of the problems in project management have their genesis in the failure to define. Or consider Boake and Kathuria's step by step guidance on defining new work, including this advice (p. 35): Review the assumptions with your client to ensure that they are fully understood. If you discover that an assumption is incorrect at the beginning of a matter, it is easily addressed with a revised plan and estimate. The same cannot be said for assumptions that are found to be incorrect at the end of a matter. Or read the expanded version of these four "rules to live by" (p. 14): "Project management is a tool box - choose only what you need to most effectively manage the project. "Plan now or pay late. "The simplest process is often the best. "There should be no surprises - regular and effective communication is the key to successful project management." That is not to say that I agree with 100% of the advice in the book. For example, when it comes to estimating time and costs, they include two formulas and an extended discussion of how to use "a numerical measure of confidence known as a 'certainty factor'" (p. 29). Their sample asset purchase transaction plan (p. 32) shows how they have used certainty factors to improve time estimates for such subtasks as term sheets and due diligence. In my experience, few lawyers would be interested in, or benefit from, this type of statistical refinement. I think these particular spreadsheets and forms violate their own advice that "the simplest process is often the best." But my objections are just minor points. Lawyers will love the specificity of the book's case studies. And the step by step examples will go a long way to helping them answer the most important question in legal project management: what should I do? There's just one more thing you need to know about this 118-page book/CD package: it costs about $470 (GBP295). The Ark Group, in association with Managing Partner magazine has published a series of reports at this price point, including Alternative Fee Arrangements: Value Fees and the Changing Legal Market by Pat Lamb, which I reviewed last year. If you don't have the budget to buy these two books for yourself, have your firm order them for the library. Then make sure to read them as soon as they arrive.Table of ContentsPart One: Legal Project Management Best Practice - A Framework, Tools and Techniques Chapter 1: The business case for project management...3 The shift in the balance of power from seller to buyer ...3 Embracing business realities...3 The growth of in-house legal departments ...4 The fragmentation of the legal services market ...5 The increasing demand for alternative fee arrangements (AFAs)...6 The business case - Six compelling reasons...6 Chapter 2: Project management foundational principles...9 What is project management?...9 What is a project?...9 Project management versus process management...10 The triple constraints...10 The project sponsor...12 The project manager...12 Project management processes...13 The project life cycle...13 The importance of 'process assets'...14 A few rules to live by...14 Chapter 3: A simple legal project management framework ...17 Legal mandates are projects...17 Legal mandates have four project stages...17 Each project stage has two project management tasks and one project management deliverable...18 Your client participates at every stage of the project...18 A project manager's responsibilities can be delegated...19 Designing a framework that works...19 Chapter 4: Defining a project...21 Establishing project objectives...21 A word about quality...21 Understanding and managing client expectations ...22 Prioritising the triple constraints...23 Active listening...23 The scope document...24 A project definition model ...25 Chapter 5: Planning a project...27 A word about planning...27 Planning tasks - The work breakdown structure...28 Estimating costs - The certainty factor...29 A word about contingency...30 The importance of assumptions...30 Staffing - The benefits of mindfulness...31 Example of a project plan...31 Establishing a schedule - Understanding the critical path ...31 Establishing a baseline - Discussing the plan with your client...34 Identifying and addressing risks...35 A planning model...37 Chapter 6: Project execution ...39 Project kick-off...39 Subsequent team meetings ...41 A team meeting model...41 Chapter 7: Monitoring a project...43 Keeping projects on track...43 Earned value...43 The monitoring worksheet...44 Monitoring with phase and/or task codes...48 Status reports...48 Managing change requests...48 Addressing cost variances ...49 Addressing schedule variances...50 Managing client expectations...51 The monitoring model...51 Chapter 8: Evaluating a project...53 Leveraging your work product...53 Exploiting process assets...53 Obtaining client feedback...53 Saving project documents...54 Project Management for Lawyers The lessons learned meeting...55 The evaluation model...56 Chapter 9: Linking project management to pricing strategies...59 Basic practice economics...59 Maximise profitability through efficiency and leverage...61 Managing AFAs...62 Chapter 10: Developing your own framework - A project plan...65 Threshold decisions...65 Setting objectives...65 Scope...66 The project plan...66 The timeline...66 Creative scheduling...67 Risks...67 Assembling a project team ...68 Finding champions - The steering committee...68 Administrative support...69 The communication plan...70 Part Two: Case Studies Case study 1: McCarthy Tetrault LLP - Legal project management - A strategic priority for the firm...73 A strategic initiative...73 Keeping it simple...73 Dialogue Project ManagementTM...74 The role of the project manager...74 Tools...75 Training...76 Consulting with clients...76 External communications - Branding...76 The importance of internal communication...76 Dialogue Project ManagementTM in practice...77 Case study 2: Dechert LLP - Developing best practice in legal project management...79 The six lessons learned...79 The value of support departments...82 Project management - A department in itself?...84 Case study 3: Eversheds LLP - Achieving certainty in cost, scope and time...87 Project management origins in litigation...87 Training...88 The end result...88 Using project management in non-contentious work...89 The project management resources...90 Benefits for the client...90 Case study 4: Seyfarth Shaw LLP - Building an effective service delivery programme for clients...91 The history of the programme...91 Applications of 'SeyfarthLean' ...92 Results...94 Case study 5: Royal Bank of Canada - A client's perspective on law firm pricing...95 Working with external counsel to manage costs...95 Alternative Fee Arrangements (AFAs)...96 The right pricing model for RBC...97 Innovative ways of working - Using portals and 'Lean Six Sigma'...97 Outsourcing...98 The importance of communication...98 A mutually-beneficial partnership...99 Part Three: Appendices Appendix 1: An asset purchase Gantt chart...103 Appendix 2: A generic work plan...105 Appendix 3: A work plan for an asset purchase...107 Appendix 4: A completed monitoring worksheet...109 Appendix 5: A sample staffing profile...111 Appendix 6: A sample change request form...113 Index...115

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Book SynopsisThis critical report provides the most up-to-date and detailed guide to the practical, regulatory and ethical considerations that must be reflected in your partnership agreement. Extensively revised, the second edition features new case studies and real-life examples, including a sample agreement precedent and comprehensive updates to reflect how new legal and regulatory developments will affect your deed. Key subjects covered include: *The impact of the Legal Services Act on partnership agreements; *Discrimination in partnerships, in particular, age discrimination; *Outcomes-focused regulation; *New business structures; *Distressed partnerships; *Current trends in mergers; *Profit-sharing arrangements and management structures: *The equality system *Profit share by capital contribution *Seniority (lockstep) *Merit or performance systems *Hybrid profit sharing systems *Retirement annuities *Performance measurement, supervision and disciplinary measures; *De-equitisation: provisions for expulsion from the partnership; *Expulsion, retirement and dissolution; *Good faith, arbitration and mediation; *Drafting for the future, avoiding early revisions and much more - Ensure you understand the necessary considerations of an agreement that not only fulfils legislative requirement, but ensures the attraction, retention and motivation of the best talent for your firm.Table of ContentsPart One: Tackling the Current Issues in Partnership Agreements Chapter 1: Partnerships, LLPs and limited companies...1 Chapter 2: Alternative Business Structures - Outside participation in legal firms...5 Chapter 3: Attracting new partners - LLPs and partnership...11 Chapter 4: How is the partnership managed?...13 Chapter 5: Salaried and junior equity partners...17 Chapter 6: Discrimination in partnerships...19 Resolving the issues in the partnership agreement...21 Chapter 7: Profit sharing...25 The equality system...25 Profit share by capital contribution...26 Seniority (lockstep)...26 Merit or performance systems...27 Hybrid profit-sharing systems...29 Variables in merit-based systems...30 Capital-based hybrid systems...31 Retirement annuities...32 Retaining profits...32 Chapter 8: Different categories of partner and new partners...35 Chapter 9: Additional benefits and provision ...39 The kinds of benefits...40 Flexible working arrangements...41 Contents I V Chapter 10: Supervision and disciplinary provisions...43 Partners' obligations...45 Compliance with regulatory obligations...46 Disciplinary measures...47 Performance measurement...47 Chapter 11: De-equitisation...49 Provisions for expulsion from the partnership...50 Chapter 12: Expulsion, retirement and dissolution...53 Expulsion...53 Suspension...55 Challenges to expulsion...56 Retirement...57 Accounting...58 Distribution of shares...59 Anti-embarrassment clauses...60 Restriction of competition...60 Indemnities...61 Dissolution...62 Chapter 13: Good faith, arbitration and mediation...65 The duty of good faith...66 Preventing litigation...68 Indemnity and compensation...69 Arbitration...70 Mediation...71 Part Two: Case studies Preface to Case Studies...75 Case study 1: A defective business plan...77 Case study 2: Failure to draft for change...79 Case study 3: Failure to implement partnership clauses...81 Case study 4: Failure to notify insurers of claims and circumstances...85 Appendix 1: A deed of partnership...87 Index...111

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Book Synopsis"Client listening is the single most important marketing activity." - Paul Amit, Head of Sector and Client Marketing, DLA Piper. Forward-thinking firms know that listening effectively to their clients is crucial for improving client service, value, retention, and, ultimately, profitability. It can also help future-proof your firm by embedding client relationships, and anticipating client needs. Client Listening: Why It Pays and How to Do it, will show you how to design and implement effective client listening programmes and act on the intelligence gleaned to secure these critical benefits for your firm. It highlights the important factors that must be considered before launching a client listening programme, and offers practical advice to ensure its success. Topics include how to: * Identify the role of client listening within your firm's broader CRM and BD initiatives; * Overcome typical objections from individual lawyers to engaging in client listening; * Determine the type of client listening activities which best fit your firm's culture, budget, timetable, and purposes; * Design and conduct effective client questionnaires and interviews (how-to guide included); and * Ensure client feedback is reported, shared, absorbed, and converted into action appropriately. Real-life case studies from DLA Piper, Ashurst, CMS Cameron McKenna, K&L Gates, and KPMG reveal how firms are currently using client listening as a means to deepen client relationships and develop more responsive, value-added services. Useful appendices are also included to assist you with the design, launch, and fine-tuning of your own client listening programmes. These include: * A client listening planner; * A sample client invitation; and * A sample discussion guide for a client service review.Table of ContentsExecutive summary...VII About the author...IX Acknowledgements ...XI Part One: Client listening explained Chapter 1: The trend in favour of client listening... 3 What is client listening?...3 Is client listening new?...3 Weaknesses in client listening practised by law firms...6 Other industries pointing the way forward...7 A vision for client listening in law firms...8 Chapter 2: The benefits of client listening... 11 Sustainable competitive advantage.11 Popular rationale ...11 Partner perspectives...11 Supplementary benefits...13 Measuring the return on investment14 Chapter 3: Positioning client listening in context... 19 Business development ...19 Client relationship management...21 Interplay between CRM and key account management...23 Chapter 4: Obstacles to engaging with clients... 27 Obstacle 1: There is nothing to learn...27 Rebuttal 1: Champions will demonstrate otherwise ...27 Obstacle 2: Clients will refuse to participate in formal client listening activity...28 Rebuttal 2: Clients enthusiastically embrace client listening...29 Obstacle 3: There is no time for client listening...29 Rebuttal 3: Making time...30 Obstacle 4: Lawyers are not trained interviewers...31 Rebuttal 4: Training, mentoring, and expert independent interviewers are available...31 Obstacle 5: Asking questions brings risk...32 Rebuttal 5: Don't be an ostrich!...32 Obstacle 6: Asking for feedback is pointless as no action will be taken...33 Rebuttal 6: Take responsibility ...33 Chapter 5: Selecting the best listening method... 35 Interplay between client listening and market research...35 Qualitative versus quantitative research...36 Data collection methods...37 Choosing interviewers...40 Chapter 6: An explanation of key techniques and how to handle tricky situations... 45 Preparation...45 Depth interviews...47 Questionnaires...50 Multi-jurisdictional programmes...54 Chapter 7: Ensuring that feedback is useful, user-friendly, and used... 57 Analysing free-form responses...57 Analysing numerical data ...59 Visual representations of feedback results...60 Reporting ...61 Framing recommendations...65 Chapter 8: Time to act... 67 Responding to feedback at the client level ...67 Setting firm strategy in the light of feedback comments received..68 Conclusions...71 Part Two: Case studies Case study 1: DLA Piper - International partner perspectives. 75 Case study 2: Ashurst - Responsive client service... 83 Case study 3: CMS Cameron McKenna - Applied intelligence ... 87 Case study 4: K&L GATES LLP - Beyond client listening... 93 Case Study 5: KPMG - Feedback that adds up: Lessons from accountancy... 97 Part Three: Appendices Appendix 1: Planner... 103 Appendix 2: Comparing methodologies... 105 Appendix 3: Invitation... 107 Appendix 4: Discussion guide... 109

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Book SynopsisThe competition for talent that leading experts started to describe in the 1990s has now become a reality in the legal profession. Like most industries across the globe, the legal industry is facing a shortage of exceptional people. Although in some jurisdictions there are more lawyers than the market can absorb, the reality is that the number of lawyers with the right skills is limited and that organisations are fighting to attract and retain the best professionals in a legal market that has become globalised and where mobility is now the norm. The ability of law firms to adopt innovative and tailored recruitment and retention strategies for their size, culture and market has become a strategic priority and one of the biggest determinants for a firm's competitive success. This practical handbook, coordinated by Rebecca Normand-Hochman on behalf of the International Bar Association, explores the opportunities and challenges for adopting effective recruitment, development and retention strategies.Featuring chapters by leading experts in the field, the topics covered include the new employer proposition, equipping partners with the skills and abilities to retain talent, working with legal search consultants, and ways to approach the recruitment and retention of talented people in first-generation law firms. The publication provides innovative insights and practical guidance for law firm leaders, business professionals and partners. It aims to enable them to introduce, develop or reshape their people strategy, making their firm capable of getting the best recruits on board - and then developing, retaining and promoting accomplished professionals in order to provide a first-class service to clients.Table of ContentsLaw firm strategy for recruiting and retaining legal talent 5 Rebecca Normand-Hochman Venturis Consulting Group Collaboration among partners: increasing the odds of productive lateral hiring 17 Heidi K Gardner Harvard Law School The new employer proposition: getting the balance right between the firm’s strategy and the expectations of its workforce 31 Jean-Baptiste Lebelle Allen & Overy, Paris Legal education and training: supporting the recruitment and development of legal talent 45 Tony King AGK PSF Training Ltd Equipping partners with the skills and abilities to retain talent 63 Alison Nolan Open Consulting Coaching lawyers through change 79 Antonin Besse Besse Executive Coaching and Training Retaining women lawyers: the need for new perspectives 99 Ida Abbott Ida Abbott Consulting In-house careers 115 Cecilia Poullain Natixis Asset Management Recruiting and retaining talent in first-generation law firms 125 Anna Grishchenkova KIAP Attorneys at Law Managing underperformance 137 Patrick J McKenna McKenna Associates Inc Working with legal search consultants 147 Guillaume Pican Page Executive Case study: designing and implementing a new people strategy 155 Alessandro Portolano Chiomenti Gerard J Tanja Venturis Consulting Group Alumni and the value of creating strong networks 161 Mahmood Lone Allen & Overy LLP Boyan Wells Retired Allen & Overy partner About the authors 173

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Book SynopsisDefending Suspects at Police Stations is the definitive guide for those advising detainees at the police station. It is an essential purchase for solicitors, duty solicitors, custody officers, criminal law students and in particular for those preparing for police station accreditation. Ed Cape’s authoritative guidance is unrivalled. Comprehensive yet highly accessible and practical, Cape provides the answers to every day practical questions and problems. Initial chapters explain the basic principles of defending clients at the investigative stage and examine the key provisions of PACE and the Codes of Practice. Subsequent chapters tackle the various stages of advising a client including taking instructions, advising on ‘silence’, interview strategies, samples and searches, identification procedures and the charge decision. The book also includes dedicated chapters on advising and assisting vulnerable clients, on enforcement of the PACE and Code provisions, and on advising immigration detainees.Trade Review‘It would be hard to over hype this book. Without a shadow of a doubt it is the Bible for police station advisers. If you do not have a copy go and get one now.’ policestationreps.com

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