Law Firm Economics: How Law Firms Earn Money A law firm is a business like any other, and as such, it needs to earn money to function. Unfortunately, many lawyers have no idea how their law firm's economic model looks and how it makes money. Understanding law firm economics and the economic culture in their firm is vital for attorneys to advance in their legal careers and succeed. This article looks at how are... (580 views)
How To Reduce Billable Hours & Increase Profitability For Law Firms Back in the late 80s, Stephanie Morris graduated from law school, clerked for a federal judge, and then started practicing as an associate in a reasonably sized, big city law firm. ''It was mandatory that every associate bill 1,800 hours a year,'' she remembers. She labored in the firm, before a trip to the doctor confirmed her belief that her work environment ''was crazy... (611 views)