Bigger. Better. Both?
30 July, 2013
Danger in being part of the BigLaw establishment
Last week the Editor-in-Chief of The American Lawyer – the world’s most influential legal services trade magazine – demonstrated the danger inherent in the BigLaw establishment. Robin Sparkman wrote a piece with an innocent enough sounding headline: Don’t Bury Big Law Just Yet. To argue BigLaw is “alive, well, and rich” she drew on The […]
29 July, 2013
How capital structure influences partnership culture
There was a time when keeping an eye on lock-up (the sum of debtors and work-in-progress) was the only balance sheet item to which the managers of partnerships paid much attention. In those times banks were easy lenders and, in the main, equity partners were relaxed about the timing of their top-up draws. But in […]
9 July, 2013
Big4 ahead of Big Law – no surprises there!
The Lawyer ran an article based on a survey of 200 law firm partners that concluded “…the Big4 professional service firms are between five-to-10 years ahead of Big Law…” in operational sophistication, integration and business development.
3 July, 2013
Are the Big 4 low-balling price just to stay in the game?
Beaton’s large-scale independent research shows Australia’s Big 4 firms are progressively low-balling their average price. At least this is how their clients perceive the Big 4’s fees over the last six years. It appears the Big 4 are dropping their prices to maintain market share. Here’s some of the publicly-available evidence. The game for audit… […]
2 July, 2013
Law firm balance sheets: A tale of a Magic Pudding?
It is a story set in Australia, but it could equally be set in the UK or US. It is a story of a magic pudding, which no matter how often it is eaten, always re-forms in order to be eaten again. A salutary tale of the law firm balance sheet.
1 July, 2013
The board conundrum in professional services firms
The board is a conundrum in professional services firms. It is a conundrum because answering the question “When is a board a true board in a professional services firm?” is both easy and hard at the same time.
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