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Financial Strength for Independence - or Investment

The legal sector was historically regarded as being low-risk and high-value, and was therefore an extremely attractive lending proposition for bankers. However, this has not been the case for five years now – and in a number of cases, firms have been slow to realise the implications.

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Client Selection

Client selection is an issue that many firms do not even consider. In most cases, the focus is on how clients select the firm they intend to instruct, and this is of course a crucial matter.

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What's Going On?

One of the difficulties in assessing the state of the legal market has been the paucity of up-to-date data.

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Do no harm?

Very occasionally in reading about law firm management I come across a memorable turn of phrase -I have on many occasions used the late Larry Ribstein's description of large American law firms as "Thinly Capitalised Workers’ Cooperatives" in my sessions on cash flow and working capital.

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Focus and Financial Purpose

In a competitive, post-Legal Services Act market, where the perspectives of the investor community are becoming ever more important, the imperative for firms is to agree a purpose, and move the focus to financial measures beyond simple Profit per Equity Partner.

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Never Lose Faith

Over recent weeks we have presented at a number of seminars and conferences and wherever possible we take the time to listen to the other presenters and their perspectives on the current legal market.

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