18th century painting of a dodo by Roelant Savery [Public domain], via Wikimedia Commons

In the past few weeks, I have enjoyed stimulating discussions with several Walker Clark clients about whether their law firms should have non-equity partners.

This subject leads to one basic question that has profound implications for many law firms today:

Should we have partners at all?

The implementation of a law firm's most important decisions can be as simple as: Ready-Aim-Fire.

So why, in so many law firms, is it: Ready-Fire-Aim?

 

Morris & Salom Electrobat II (1894) - public domain image from Wikipedia Commons

You might have missed an  important news item in today's issue of the New York Times.

It reports an event that might be the most important piece of business news this year... 

...and possibly for the next ten years.

tree in the winter

At no time since the 1960s have the signs been more ominous.

One increasingly has the sense that the increasing tensions between the United States and North Korea will not end well.

If your practice involves Asian clients, cases, or transactions, especially in northeastern Asia, you should develop a "war plan" now.

This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

An article posted today on Ecns.cn points out why it is imperative that law firms in Latin America become aware of, understand, and respond to the growing role of China in Latin American business.

The same arguments are equally important for Chinese law firms.

Law firms in both regions are failing to respond to trends that could be profoundly important for their futures.

All law firms talk about "quality," but few can actually demonstrate it consistently. To ensure a significant return on investment, quality assurance must be planned and managed using supervision and documentation methods specific to each practice area. It must also incorporate the special needs and characteristics of risk management in legal practice.

With all the possible areas for improvement, even in well-managed firms, where should a law firm start to build a systematic, sustainable quality assurance system? We recommend that you begin with a quality assurance demonstration project.

As international law firms from outside the region become more deeply embedded in the legal markets of Asia, the leading local and national law firms, which previously may have held relatively secure market positions, must respond quickly and accurately to these new competitors, or face relegation to the lower, less-profitable levels of the market.

By Dennis Garcia - Own work, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=2951354

For at least the last two decades, conventional wisdom has held that Central America is not an attractive market for setting up local operations of global firms, because of three key factors: