small law firms

Helping Other Solo and Small Law Firms

Helping Other Solo and Small Law Firms

Small law firms can provide a great value to their clients.

I had the pleasure of moderating and participating on a panel yesterday regarding becoming a solo practitioner. The discussion was focused on starting out, malpractice insurance issues, fee agreements and engagement letters, client communications, and many other interesting topics and obstacles (real or perceived) to going solo.

It was a great opportunity to hear about some of the ups and downs others have faced, and to discuss resources for small firms/solos. And, it was refreshing to be reminded about how the solo network can really provide much more value to clients than the traditional large firm/large fee structure.

This panel was the fourth in a series of Law Practice Management presentations sponsored by the Contra Costa County Bar Association. The next, and final gathering is set for October 16, 2012 titled “Business Etiquette For Success” and will include wine and appetizers!

Big Law Firms Charging $873/hour – I’m not!

Employment Law Attorney James Y. Wu

About 2 weeks ago, I analyzed a great article concerning the skyrocketing fees big law firms charge, and why business models like mine are the better way to go. On April 16, 2012, the ABA Journal reported that the priciest partners at large law firms are charging an average of $873/hour! These partners increased their fees by an average of 4.9% last year. TyMetrix and business research firm Corporate Executive Board Co. looked at billing rates at more than 4,000 law firms to compile this data.

At a time when companies, and individuals, are still trying to trim budgets and work more economically, there is absolutely no good reason to pay exorbitant big law firm rates. Again, don’t just take my word for it, but read my analysis of the article from the former VP/Global Head of Legal at eHarmony published in Forbes Magazine.

Whatever situation your company is in, do not overpay for, or put-off getting, the legal services your company needs.