by Bruce | June 29, 2007 | Articles, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Practice Group Management, Strategy
Behold a thunderclap of common sense. Might our industry be about to introduce the camel’s nose of "merit-based pay" into the tent? Washington-based Howrey (630 lawyers) just announced, as reported on law.com, that they are ditching lockstep...
by Bruce | June 28, 2007 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Strategy
Here on "Adam Smith, Esq." I’ve been writing about the possibility of outside investors in law firms—and even IPO’s of firms—starting in December 2004. For the full roster, see that piece, plus: How to Change Everything/December 2004...
by Bruce | June 20, 2007 | Articles, Book Reviews, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Strategy
If you are fascinated as I am by the congeries of issues lying at the intersection of the "partnership ethos" and "corporate-like management," then you need to be familiar with the work of Dr. Laura Empson, as highlighted in Aric Press’s...
by Bruce | June 13, 2007 | Articles, Finance, Globalization, Partnership Structures, Strategy
Bloomberg News ran a story yesterday headlined "Slater & Gordon Lifts Curtain on Global Law Firms Going Public," which features excerpts from interviews with seven people, including yours truly, offering their views on what the implications might...
by Bruce | May 30, 2007 | Articles, Cultural Considerations, Finance, Leadership, Partnership Structures, Practice Group Management, Strategy
The most important factors in recruiting laterals are: (a) that they have a sizable, portable book of business; and (b) that they can start generating revenue from that book almost immediately after coming on board your firm. Right? Wrong, and wrong. I’ve...
by Bruce | May 26, 2007 | Articles, Compensation, Cultural Considerations, Finance, Globalization, Leadership, Partnership Structures, Practice Group Management, Strategy
As a manager, how do you balance the imperative of long-term strategic focus with the exigencies of day to day "incoming?" As a practitioner, how do you balance the demands of clients and deals with your well-intended resolutions to be a better...