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Five Tips for Prospering in an Age of Legal Fee Deflation

By Kathryn Hughes | Wednesday, June 8, 2011

Coming today to TechnoFeature: Many lawyers feel like an endangered species. Forget the werewolf in London. There's a werewolf in the legal industry too busy eating your lunch to hang out at Trader Vic's. Even lawyers who still have a job feel downward pressure on fees. Competition seems overbearing, both within the profession and from without. Clients, pinched themselves, demand price concessions. The upshot? Brace yourself for a sustained period of fee deflation. How can your law firm prosper in this environment? Document automation and knowledge management expert Marc Lauritsen has some good news and bad news. The bad news is that there's no silver bullet that can save your law firm and kill the werewolf. The good news is that by following Marc's five-step plan you can outrun the werewolf, pull a 180, and stick your tongue out at him.

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How to Receive TechnoFeature
Our flagship newsletter never disappoints thanks to its in-depth reporting by leading legal technology and practice management experts, many of whom have become "household names" in the legal profession. It's in TechnoFeature that you'll find our oft-quoted formal product reviews and accompanying TechnoScore ratings. The TechnoFeature newsletter is free so don't miss the next issue. Please subscribe now.

Topics: Automation/Document Assembly/Macros | Collaboration/Knowledge Management | Coming Attractions | Law Office Management | TechnoFeature | Technology Industry/Legal Profession
 
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