Practice Management
Law firm uses exit shares to tempt consultants
A consultant-led dispersed law firm is using the offer of exit shares to help fuel rapid expansion. When the firm is sold, the proceeds will be divided between the partners based on billings.
Exclusive: First firms join new umbrella ABS platform
The first law firms have joined a platform developed by virtual firm Carbon Law Partners, where they will operate as trading names under its umbrella alternative business structure.
Pregnant trainee fails in claim over no post-qualification job offer
A solicitor who claimed she was not offered a job after completing her training contract because she was pregnant has lost her discrimination claim in the employment tribunal.
Ex-partner fails in claim for greater profit share from City firm
A former equity partner of a City law firm has failed in his claim that he was not awarded a fair profit share in the last two years of his partnership.
Lawyer-matching site: “Business tripled when everybody moved online”
A competitive bidding website saw a threefold increase in business last year, as solicitors and clients flooded online during the lockdowns, it has emerged.
M&A round-up: Taylor Rose MW eyes North-West expansion after deal
Leading consumer law firm Taylor Rose MW is targeting “significant” expansion in the North-West of England after acquiring Warrington practice FDR Law, as we round up a slew of recent M&A activity.
Office attendance limit “will avoid new type of presenteeism”
A global law firm’s post-pandemic plan to compulsorily limit office attendance will stop women working remotely suffering from present colleagues receiving better assignments.
Top firms “need to get clients paying faster” to prepare for next crisis
The top 50 law firms had nearly £6bn of unpaid client invoices on their balance sheets last year and would be better prepared for another crisis like Covid if they reduced this, an analysis has argued.
Law firm mergers “not a time for consensus”
Mergers of law firms are “not a time for consensus because decisions must be made” and the fact partners may have to cede control “must be debated and not hidden”, a report has warned.
Law firms faced major premium rises in spring PII renewal season
The spring renewal season saw law firms pay a lot more for their PII, with the surge in conveyancing work a concern and contentious probate an increasing problem.