In a survey of law firm respondents, 25% are forfeiting more revenue due to unpaid bills compared to the months leading up the COVID-19 outbreak.
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In the midst of an economic crisis, the traditional operating model, in which firms strip the balance sheet clean at the end of each fiscal year, distributing all the profits to the partnership and starting fresh, looks more and more like a liability.
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Associates say COVID-19 shows they can maintain productively and quality when working remotely. But the traditional mindset and setup of law firms may curtail any flexibility gained during the pandemic.
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Real Estate Law & Practice. In this Special Report: “The Third Ground: Renegotiating Office Leases Post-COVID,” “Exchange of Enhancements for …
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New Casework Up, Law Firm Billing Volumes Down, Survey Finds Aviku Law Resources
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