7. Can Big Law Be Lean Law?
The Lean Law Program is not only compatible with the Big Law business model, it provides the ideal check and balance for big-ticket transactions.
April 27, 2021 at 09:33 AM
2 minute read
The original version of this story was published on Lean Adviser
In any business, good processes lead to safe operations, which lead to good economics. So it is for professional services in general, and law firms in particular.
Ask any law firm leader or manager to make a list of factors that drive law firm economics, and the obvious categories will appear: client acquisition, client retention, billing and recovery statistics, lawyer recruitment and retention, and of course professional liability insurance.
Now take the list and consider the effect of improving operational safety, by which we mean taking measures that protect against unhappy clients, unpaid bills, and malpractice suits. It benefits every item on the list.
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