Small Law

Expert Analysis

• 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.

• 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.

• Closing The Gender Gap In AI Adoption: A Lawyer's Guide

  Amid a reported gender gap in artificial intelligence use, female lawyers should think about AI ownership as beginning with adoption, expanding into career agency and influence, and culminating in collective leadership directed toward the profession and the public good, says Tamara Kraljic at Hughes Hubbard.

• How Firms Adopting AI Can Learn From CRM Rollout Mistakes

  Law firms should learn from the challenges that have plagued client relationship management system adoption for over 30 years as they evaluate whether and how to implement artificial intelligence tools, says consultant Paul Manuele.

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  RFP Reset: Start With Client Service

  As clients increasingly expect the sophistication that artificial intelligence makes possible, law firms can use the proposal to adopt a client service mindset that delivers practical guidance the in-house legal team can use without translation, say attorneys at Stinson.

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  Legal Tech Talks: Notorio Co-Founder On Measuring Value

  Leonardo Lupiano, co-founder at Notorio, discusses the importance of establishing performance metrics, analyzing product usage and calculating the return on investment when considering whether to adopt a new technology.

• How BigLaw Can Build Infrastructure For Plaintiff-Side Work

  Traditionally defense-oriented Am Law 100 firms are increasingly expanding their plaintiff-side dockets through a mix of contingency arrangements and litigation finance, but firms must consider how on-risk work interacts with their existing capital structure and business practices, says Brendan Dyer at Rocade Capital.

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  Biz Development Tip Of The Month: Play The Long Game

  Lawyers who consistently maintain early-career and personal relationships, track contacts, and make thoughtful outreach over time will be better positioned to generate future client work, referrals and leadership opportunities, says Deborah Farone at Farone Advisors.