Leaders of small law firms are increasingly acknowledging that they need solid business management skills to secure their practice’s future. Planning a firm’s future starts with setting goals and dedicating resources to achieve them. Aligning resources around your objectives moves goal setting from the aspirational to the accomplishable. For many lawyers, strategic planning is overshadowed …
Information and commentary on the business and practice of law at Thomson Reuters.
Articles
Helping Small Law Firm Lawyers Plan for the Future
Practicing law is what small law firm lawyers do well. Yet often they are reluctant business owners; few of them went to law school intending to run their own small business. Increasingly, leaders of small law firms are realizing that they are, in fact, business owners, and that they need to improve their business management …
- October 30, 2019
- Carrie Brooker
A Message to Customers Impacted by the California Wildfires
Dear friends, As the wildfires continue to impact California, the country is watching the news and looking for ways to help. We have witnessed heroic efforts to fight the fires, minimize property damage and provide medical assistance. We see neighbors helping neighbors, and countless acts of kindness and support. We understand that family, friends and …
- October 30, 2019
- Jeff McCoy
Thomson Reuters to Provide US DOJ, FBI with Legal and Investigative Tools
Thomson Reuters announced it has been awarded a long-term contract to provide its leading legal research and investigative technology tools to the Department of Justice (DOJ) professionals. In all, more than 25,000 users will have access to Thomson Reuters products under this agreement. Terms of the deal were not disclosed. U.S. Attorneys and other legal …
- October 28, 2019
- Jeff McCoy
Cash Is King: New Law Permits Student-Athlete Compensation
The National Collegiate Athletic Association (NCAA) system faces a fresh challenge in the form of California Senate Bill 206. The bill, commonly called the Fair Pay to Play Act, strives to pierce the veil of amateurism and allow student-athletes to contract endorsements and sponsorships. To facilitate such deals, student-athletes will be permitted to hire state-licensed …
- October 22, 2019
- Jeff McCoy
Blockchain Technology Can Combine Smart Contracts & Document Automation
Blockchain technology holds promise for enabling so-called “smart contracts” that greatly streamline the process for creating, reviewing and approving contracts. Combined with document automation technology, it could revolutionize contracts, creating tremendous efficiencies and opening new product possibilities in the financial world and beyond. Thomson Reuters and OpenLaw set out to demonstrate how these technologies could …
- October 17, 2019
- Leonard Lee
HighQ Adds Enhancements: Scalable and Repeatable Collaboration, Process Management Solutions
HighQ is making it easier for users to collaborate while building and scaling advanced solutions. The new version 5.2 brings templating capabilities that improve efficiency and make it easier to create standardized, repeatable solutions using HighQ’s collaboration, workflow and project management capabilities. Enhancements also include other transactional efficiency and security improvements: Solutions templating: Standardize sites …
- October 16, 2019
- Leonard Lee
Justice Ruth Bader Ginsburg Discussion, part 1 – Special Podcast Series: Wright & Miller’s Federal Practice & Procedure Marks 50 Years of Publication, episode 4
The law and the courts have undergone many changes over the years. Justice Ruth Bader Ginsburg discusses what she believes is “the most heartening change” in the legal profession. Episode 4 of our special podcast series marking the 50th anniversary of the first publication of Wright & Miller’s Federal Practice & Procedure is a discussion …
- October 8, 2019
- Leonard Lee
The “Secret Sauce” for Your Client Intelligence: Best of SLA 2019
At the Special Libraries Association (SLA) Legal Division’s annual conference this summer, attendees could choose from more than 200 education and social events. Among the standouts was the presentation “Secret sauce: Where you’re probably not looking to find your client intelligence,” by Zena Applebaum, Thomson Reuters director of Market Insights & Engagement for Legal and …
- October 2, 2019
- Carrie Brooker
Stability Returns to the Large Law Market: Peer Monitor Midyear Report
“It is encouraging to note that we have seen a return to stability in the legal market.” That’s the conclusion of the 2019 Peer Monitor Midyear Report, noting that demand for legal services was modestly higher in the first half of 2019, while rates grew at some of the highest levels seen this decade. Much …
- September 24, 2019
- Leonard Lee