Much is written about law firm management, but there is little consideration of the objectives toward which you are trying to manage. That is not as straightforward a question as it may seem.
As senior partner of an international disputes boutique, I have represented large law firms and worked with lawyers at firms large and small all over the world. Private law firms are, of course, businesses and an important purpose of any business is to generate profit. But if you are practicing law just to make money, you are in the wrong business. Become an investment banker or run a hedge fund. When I graduated from law school, law was still a profession more than a business. Lawyers earned good incomes but did not earn like rock stars or professional athletes. Things have changed over the years, certainly in terms of the economics of the profession, but in many ways, we have lost many of the aspects of law practice that made for more satisfying careers, professional development and client service. I view a central goal of law firm management as managing to preserve many of those values for my colleagues as well as my clients.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
