5 Things Firms Must Do To Stay Afloat In Tough Times

Law360, New York (September 18, 2008, 12:00 AM EDT) -- Law firms often are perceived to be collegial places, not to mention wealthy places. But at the end of the day they are businesses. And in times of financial turmoil, long-standing grudges, lagging practice groups and other weaknesses can become more pronounced.

If it gets bad enough, things can start to unravel, as was seen this week in news reports of trouble at the 118-year-old firm Heller Ehrman LLP, which may be facing dissolution and is definitely losing partners at a rapid clip.

So what can...
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