The results of Citigroup’s 2015 Law Firm Leader’s Peer Monitor Report were examined by a highly informative panel[i] at Thomson Reuters’ recent 20th Annual Law Firm Leaders Conference in New York. The detailed discussion outlined overall marketplace trends and reviewed the strategies of law firms who are profitably navigating today’s turbulent legal market.Market conditions for law firms are stabilizing in 2015 but a fragile global economy / geopolitical climate, and changing legal department purchasing behavior are leading to continuing flat demand for purchasing legal services. Current marketplace conditions include: more work being done in-house or by non-law firm outsourced providers and law firms coming in from other markets who are competing aggressively on price and / or who are buying business growth by lateral attorney hires.Lower demand for law firms’ services is also being driven by a decreased appetite for costly litigation and developing … [Read more...] about Responding to a Hyper-Competitive Legal Market: 2015 and Beyond
Hyper v merge in process
Judicial dissent is rare in these collegium days. The master of the roster, the Chief Justice, enjoys the privilege to constitute the Bench and majority and minority views, are often decided at the time of selection of judges for the bench constitution. After all it is a number game world over, and not free from its vices.Judicial discipline commands obedience to the majority view Stricto Sensu. Inside the court, minority judgment is often assigned literary value, contrary to perception I would see sometime in the future, the minority view of Justice Dave in NEET case transforming into a majority. We learn from history, Justice Khanna who was reduced to minority in ADM Jabalpur case (Habeas Corpus Case) later emerged as the only jurist with a backbone. Justice Khanna could have interpreted the Constitution for the establishment, like other judges did, he chose to read it for the democrats, even at the cost of the chair of Chief Justice of India. I never bothered to … [Read more...] about Hyper Constitutionalism- The Journey from TMA Pai to NEET case
The ambush election rules implemented by the National Labor Relations Board (“Board”) last year tilted the scales of union elections in labor’s favor by expediting the election process and eliminating many of the steps employers have relied upon to protect their rights and those of employees who may not want a union. We warned that in addition to rapidly expediting election timeframe, the regulations were full of technical and burdensome procedural mandates on employers. The Board further emphasized the pro-union impact of these requirements in a Decision last week when it overturned the results of an election that a union overwhelming lost based on a hyper-technicality. Even though there was no prejudice to the union, the Board gave the union another bite at the apple despite the employees’ resounding rejection of union representation; effectively denying the employees their voice and imposing even more burdens on the employer. New … [Read more...] about NLRB Uses Hyper-Technical Rule to Overturn Employer’s Landslide Election Victory
Mergers can be difficult, risky and expensive. So why do so many law firms contemplate them? Most would say they’re hoping to achieve a competitive advantage or find a quick fix to a perceived need. Mergers often help firms realize their strategic objectives. However, if not done for the right reasons, they can be a source of frustration and lead to a firm’s demise. THE RIGHT REASONSA good place to look for the right reasons is your firm’s strategic plan. For instance, a merger may make sense if your firm wishes to:Add experience and depth to an established practice area. Offering clients expanded capabilities is a great way to keep their business and increase your billings. For example, suppose by way of a merger you’re able to increase the size of your intellectual property practice and expand your firm’s patent infringement services. This could be important to existing and prospective clients when retaining a firm. Increase specialization. A … [Read more...] about Law Firm Mergers: To Merge or Not to Merge? That is the Question!
Two accounting firms that have provided services for medium-sized businesses in Kentucky and other states plan on merging their practice effective on July 1. Both are CPA firms that have been in business for a number of decades.The hope is to provide clients with a greater range of financial and business consulting type services. "Since both firms have significant strengths in differing service areas, it just makes good business sense to combine the firms to meet new financial and business challenges facing their client bases," stated the managing director for one of the firms.It is felt that the combining of the two firms will allow for these businesses to better compete and also expand at a faster rate. It is claimed that such a merger will also be of benefit to employees as a wider range of career opportunities will be made available. The owners of the two firms hope to accomplish the merger without in any way disrupting day-to-day operations. Offices are to continually be … [Read more...] about Two Kentucky CPA Firms to Merge