Network Firm News
ALTMAN WEIL DIRECT -- April 15, 2003
Contains the following articles described as follows by Altman Weil:
Law Firm Debt: An Early Warning System
The recent demise of Silicon Valley powerhouse, Brobeck, Phleger & Harrison, is an all too vivid illustration of what can happen when a law firm takes on too much debt. Altman Weil principal James Cotterman provides five easy metrics you can use to evaluate your firm's debt burden.
The Legal Food Chain
In law offices where there is not enough lawyer-level work to go around, lawyers will retain work that could be delegated to paralegals; and paralegals, in turn, will do work more appropriately assigned to secretaries. Altman Weil principal James Wilber discusses how law firms and law departments can get legal work into the right hands to increase effective utilization of paralegals and improve the organization's productivity and profitability.
Law Firm Sales Departments - Are You Ready?
While sales departments play a fundamental role in corporate business structure, the idea of utilizing direct sales in the legal profession is still in its infancy. Altman Weil consultant Debra Rhodunda describes the role of a law firm Sales Director and suggests some interim steps for firms that aren't quite ready to take the plunge.
Dis-Economies of Scale
Is bigger better when it comes to law firm economics? While common sense might suggest that larger firms can spread fixed costs across a larger number of lawyers reducing per lawyer costs, the numbers tell a different story.