Finance and Commerciality

2 min read

Incentives can matter more than process

Last week I posted an approach to improving law firm lockup, using a Lean process improvement methodology I thought it worth highlighting...

8 min read

The Legal MBA Guide to Reducing Law Firm Lockup

Lockup is a perennial issue within law firms, with the most recent PwC survey showing deterioration in the amount of time it takes law...

2 min read

The only certainties in life are death and taxes

Except we don't know when we're going to die, and taxes are subject to change at the drop of a hat As indeed they did last week in the UK...

3 min read

UK Law Firm Pricing Briefing - October 2024

Background The UK Office for National Statistics (ONS) produces a quarterly Services Producer Price Index (SPPI). This contains useful...

2 min read

PEP and Inflation

The 2024 PwC UK Law Firm Survey makes for good reading, as always One trend caught my eye – UK Profit per Full Equity Partner (PEP),...

2 min read

On its own, Legal Tech / AI doesn't deliver any financial benefit to law firms

In fact, it's often a significant cost in both £ notes and time Put aside the watering down through pilot to rollout of 'this will...

2 min read

Expensive lawyers have gone mainstream

Expensive lawyers look to have gone mainstream with the Wall Street Journal reporting on US rates of $2,500 over the weekend But,...

1 min read

Profit before purpose

Might need to put the tin hat on for this one... To be clear upfront, I'm not saying profit at the expense, or to the detriment, of...

4 min read

UK Law Firm Pricing Briefing - July 2024

Background The UK Office for National Statistics (ONS) produces a quarterly Services Producer Price Index (SPPI). This contains useful...

2 min read

Capped Fees need killing off for good

The billable hour and fixed fees can set off a heated debate, but there is one particular fee type that we should all unite behind and...

6 min read

A Practical Guide to effectively price Fixed Fee work

Clients are increasingly expecting law firms to offer fixed fees, and some law firms are proactively trying to break the link between the...

1 min read

But we're going to write the time off when we bill anyway...

...so why bother recording it in the first place? Conceptually, we need to understand the difference between the cost of delivering a...