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International Edition

Focus on the future

With daily headlines of falling property prices, stockmarket turmoil and rising energy prices, the need for sound financial planning is paramount. Pro-active tax planning and managing investments are an essential part of laying plans for the future. Unfortunately, the typical partners' approach to their financial planning is a last-minute mad rush accompanied by frustration at a loss of control and the mountains of incomprehensible paperwork. Yet all it takes is the disciplined application of a little common sense to put you back in the driving seat.
5 minute read

International Edition

The circle of success

What makes a really great law firm these days? What causes them to experience a steady stream of great clients and great work that attract really talented people? In working with law firms for many years, we have come to realise that there are five key areas in which the really great law firms excel. We have combined them into what we are going to describe as the 'circle of success'.
7 minute read

International Edition

Banish the boredom

Legal TV dramas have a lot to answer for. Watch any episode of LA Law and you would get the impression that US lawyers have to pass a test for good looks as well as their law exams. It does not fare much better in the UK - Judge John Deed gives the impression that all of the London Inns are actually dens of vice. Perhaps the one thing that all legal dramas do have in common is the way they consistently present lawyers as slick, articulate and never failing in their ability to hold an audience captive. In reality, it is a different story. Most lawyers I have trained - regardless of the size of the firm or the geography - tell me that presenting does not come naturally to them, whether to clients, prospects or even within their own firm. Regardless of the size of their audience, some lawyers find presenting to a group of eight people just as daunting as speaking to more than 500 people.
7 minute read

International Edition

Targeting the top

An increasing number of law firms are providing their assistant solicitors with career planning support of some kind, whether internally via human resources or partner mentoring or through specialist external career management coaching. A key message in this approach is that individual lawyers should take responsibility for their own career development and planning and often this will be about making a choice between various career options (e.g. whether they aspire to partnership or not) and making and implementing a plan to achieve their objectives. Making partner in a law firm used to be the only career goal of a solicitor in private practice. Other options are now becoming more openly discussed but, for those who become partners, the paths they can take once they have been promoted are often unclear.
7 minute read

International Edition

Virtually exposed

Law firms can fall prey to computer-based crime, just like any other business. Anthony Yates looks at how the need for information to be accessible over networks can be reconciled with the need for protection
7 minute read

International Edition

Conflicts comfort

Sam Suri looks at how technology can help ease the conflict-checking and compliance burden
9 minute read

International Edition

The long goodbye

The detail contained within a law firm's partnership deed, including that of limited liability partnerships (LLPs), has enormous influence on the retirement process. Worded appropriately, it can minimise the potential for dispute. The treatment of partners' current and capital accounts, not to mention precise exit arrangements, is key. This article focuses on the main issues that the partnership should address when partners or members retire, and also highlights factors that the individual should review.
6 minute read

International Edition

Working the room

"I don't do marketing, selling or business development. I am a professional, a lawyer, an expert and specialist who does a great job, so the referrals will come." You simply cannot prosper if you have that attitude. It is time to wake up; it is the 21st century, and even the supermarket is moving in. You all know about 'Tesco Law' and the Legal Services Bill. You simply cannot play ostrich if you want to succeed. The competition is hotting up and if you want to keep your slice of the cake you have to rethink your position: any business could be preparing to muscle in on your profession.
7 minute read

International Edition

The price is right

Although just a snapshot of the way in which professionals approach the delicate issue of pricing legal work for clients, a recent survey of 260 transactions at a leading mid-market law firm revealed that 72% of quotes were under the final amount billed, by an average of 21%. An additional 12% was also written off before the client's bill was submitted.
7 minute read

International Edition

The right fit

"Why are we here?" asks Dan Wilkins, director and head of London law firm recruitment at Hays Legal - a valid question, given the time (8.30am) and the bleary eyes around the table. Testament to law firms' appetites to hire and keep the best people, human resources (HR) managers recently met up to discuss recruiting and retaining assistants at top City law firms. The Legal Week roundtable discussion, held in association with Hays Legal and following up on the Legal Week Assistant report last year, saw some lively debate - despite the early start - on topics from CV-checking to the ethics of headhunters
7 minute read

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