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The 2024 Nobel Prize in Economics Goes To…..
The Nobel in Econ (a/k/a The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) for 2024 was awarded a few days ago to Daron Acemoglu and Simon Johnson of MIT and to James Robinson of the University of Chicago. Here at Adam Smith, Esq., we try to... read more +Question of the Month #3–Best Measure of Law Firm Performance: Report & Commentary
Question of the Month #3 was, "What is the best measure of law firm performance?" This column is by Janet Stanton, Partner, Adam Smith, Esq. This question is gaining currency in our industry, with it being asked with greater frequency and not a few upcoming events...
Adam Smith, Esq. in “Dinero”
In its latest issue, Dinero, Colombia’s most important business magazine, published an interview with our Bogotá-based Director, Antonio Leal Holguín. The interview is part of a special edition on law firms, which the magazine publishes once a year. The special...
Fiscal Equinox (Observed)
With thanks to our friends at Thomson Reuters Legal Executive Institute. You spend from January 1 to April 23 devoting your revenue to paying taxes; After April 23 (we're talking averages here) another 40% of your year is "wasted" in non-revenue-producing activities;...
The Decline of Litigation? Part 2
We haven’t talked yet about realization. Shall we? The first time I saw this chart, it hit me between the eyes; your reaction may be similar. In a nutshell: Even if litigation “demand” is more or less steady, what about revenue to law firms from that demand? In...
The Decline of Litigation?: Part 1
I've been thinking a lot lately about litigation. It’s been one of the two major locomotives driving revenue and profit for BigLaw for the past 50 years or so--the other being transactional or corporate work--and has customarily provided 25--60% of a firm’s revenue;...
