Modern Lawyer

Expert Analysis

• Defensible Pricing Principles For Law Firm MSO Fees

  As private equity investors increasingly invest in law firms using management services organizations, several Internal Revenue Code principles provide a framework for evaluating market-based pricing terms that respects fee-sharing prohibitions and mitigates investor concerns, says Perry Urken at Ryan.

• 7 Ways Legal Leaders Can Foster Firmwide Stewardship

  As the modern mandate for law firm leaders' responsibilities expands to become more untenable, a chairperson’s best work is reflected in teamwide judgment, the next generation's confidence and the firm's ability to act without routing every decision through one person, says Eric Belfi, chairman at Labaton Keller.

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  Legal Tech Talks: Centari CEO On Shifting Atty Role

  Kevin Walker, founder and CEO of Centari, discusses how new technology can expand access to information, identify issues earlier and allow attorneys to play a more continuous role in helping clients make decisions.

• Making Legal Cents: Get Better Intelligence For 2027 Planning

  As strategic planning begins for the year ahead, firms must look beyond last year's numbers and ask harder questions about what is changing more broadly, what inside the firm needs to be fixed and what has to be true for the next investment or growth plan to work, says Shireen Hilal at Maior Consultants.

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  RFP Reset: In The Age Of AI, Evidence Beats Eloquence

  As firms increasingly use artificial intelligence tools to quickly produce highly tailored responses to requests for proposals, polished prose alone tells clients less than it once did, so in-house teams should compare meaningful evidence and measure whether promised value is actually delivered, says Roger Rutkowski at Mercedes-Benz USA.

• The Road Map To A Law Firm MSO IPO

  For managing partners considering outside capital, one potential three-phase path could allow firms to transition from a traditional limited liability partnership to a publicly traded managed services organization structure, provided they keep ethical rules and regulations top of mind, say attorneys at Winston Taylor.

• The Potential Risks Of A Law Firm MSO IPO

  Though initial public offerings may represent the most efficient mechanism for recovering capital as private equity invests in law firm management services organizations, ethics rules, partner runs, shifting regulations and market pressures pose potential challenges, say attorneys at Winston Taylor.

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  The GC's 1st 90 Days: How To Listen Before You Lead

  For a new general counsel, scheduling conversations with your new team members, the C-suite and the company’s directors — where you can listen intently and strategically — is the fastest way to understand the company's fault lines and dynamics, says Alex Dimitrief, former general counsel at GE and Sotera Health.

• The Economic Case For A Law Firm MSO IPO

  As private equity investment in law firm management services organizations accelerates, initial public offerings may represent the most efficient mechanism for recovering capital at a multibillion-dollar scale, particularly if the transaction uses a tax-efficient partnership structure, say attorneys at Winston Taylor.

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  Biz Development Tip Of The Month: Simplify Networking

  The hardest part of business development is building relationships without feeling awkward or transactional, but to solve this networking conundrum we ranked networking activities from the least intimidating to the most challenging and shared a small, workable action item for each, say attorneys at Irell.

• Community Is Key To Addressing Rural Legal Deserts

  Pipeline programs for current and prospective lawyers to find and build careers in legal deserts should be designed with relationships and connection uppermost in mind and priority, says Presiding New York Supreme Court Justice Elizabeth Garry.

• Tech Plays An Indispensable Role In Addressing Legal Deserts

  While building the Free Legal Answers platform, we have seen how technology can overcome barriers of time and space to make it easier for lawyers to help in legal deserts, meaning we must turn to big, bold measures, or the justice gap will continue to grow, says Buck Lewis at Baker Donelson.

• How Firms Can Develop The Next Generation Of Lawyers

  As law school graduates enter the industry after experiencing significant educational disruption due to COVID-19, firms can adapt to the new generation's unique circumstances by rethinking how they onboard and develop incoming attorneys — starting with summer associates, say attorneys at Taft.

• How In-House Lawyers Can Help Fill The Legal Aid Gap

  Corporate legal departments can expand access to justice in legal deserts in ways that don't require court appearances, as many client needs can be met through advice, brief service or pro se support, say Todd Stillerman at Wells Fargo and Allison Constance at Legal Aid North Carolina.

• How Law Firms Can Advance Gender Parity Without Exclusion

  Law firms can work toward eliminating workplace disparities while reducing discrimination risk by opening events to all employees, expanding caregiver support, and using mentorship, coaching and pay equity data to guide durable inclusion efforts, says Lori Mihalich-Levin at Mindful Return.