Partnership is Invention of Devil…

Master’s program training course “Managing a Legal Practice” in the Higher School of Economics continues with the second meeting devoted to the topic of “Partnership”. The summary is provided by Sergiy Konovalov. Read More

The Deal of the Century: A Merge or A Crash?

120 offices, 50 countries, around 7 000 lawyers — Dentons-Dacheng have formally singed a merge this week creating the largest legal firm in the world according to the number of lawyers and significant market presence in the two world economics – US and China. The forecasts both as of  failure or success are unclear, whereas scepticism in both cases is shared.  The press is full with headings like: “shocking”, “surprising”, “brave” “admirable”.Read More

Forget about revenue, think about profit!

Financial indicators of the world leaders, apart from the fat that they simply ARE indicatorsJ, very vividly illustrate the fact that – generally – everybody chooses one out of two options:

  • ego expressed in size (the volume of business);
  • ego expressed in the amount of money in the partners’ pockets.

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The desire of legal firms’ partners to educate its key employees and engage into learning process themselves reminds a flue epidemics. At once, many partners became very keen on skill development, specifically sales skills!

The interest to this particular skill is quite validated on one hand. Although, on the other hand – it is obviously belated. It takes from 9 to 12 months to develop a new skill and practice it.  Read More

Crisis is in Our Heads

We are designed in a way that acceptance of the changes in the reality takes some time (the amount of time varies from individual to individual). The legal firm partners are no exceptions: thus, accepting the new economical reality happens with a delay, in some cases takes a month, for some half a year. … the two questions like: who is to blame and what to do about it?Read More

A Layered Pie of Partnership

While some partnerships are planning and implementing the transfer of power to the younger generation, others are still contemplating about growth to be done in-house or by lateral hires.

The evolution of national market of legal services was accompanied by evolution of partnership relationships, even though the development was erratic both in terms of time and geographic spread. My personal understanding of the structure and internal relationships within partnership have also evolved.Read More

“More for Less” to Be a Trend Further

English “Legal Week” has finished its regular survey of internal layers, which involved 1400+ respondents. The goal of the survey was to identify clients preferences in buying legal services from external consultants and learn which changes the clients expect from them. Briefly, the major results look like as follows:

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