ABA Journal

Business of Law

714 ABA Journal Business of Law articles.

Making the Move: What should legal organizations consider when assessing how the cloud fits into their future?

The COVID-19 pandemic—coupled with the remote and hybrid work models that arrived in its wake—has spurred a move to the cloud for many of the key business systems that legal organizations rely on, from document and email management to collaboration and more.

NYC firm has taken the unusual step of hiring a psychologist to assist clients and lawyers

It is not uncommon for law firms to contract with jury consultants and other professionals knowledgeable about litigation to assess how witnesses are being perceived and how they may want to present themselves. But Harris St. Laurent & Wechsler leaders call the decision to hire a psychologist as a member of the firm’s staff a unique initiative.

Some lawyers are reluctant to return to the office and leave their pets

One side effect of the ongoing COVID-19 pandemic is that lots of people have adopted pets. Turns out, a lot of these pet parents enjoyed spending time at home with their furry friends—some so much so that they refused to be separated from their best buddies. In fact, 75% of U.S.-based remote workers surveyed in July said they wanted to stay remote so they could take care of their pets.

Legal Limbo: Firms and their clients scramble to meet the federal vaccine mandate

As outer space becomes more accessible, space lawyers will be in greater demand

Billionaires are building their own rockets to go to space. Regular people are mingling with astronauts on spacecraft. Companies are trying to monetize space, while the government established a new branch of the armed services in December 2019, the U.S. Space Force, to defend it. We’ve entered a new space age, and there are stellar opportunities for space lawyers to explore.

Firms are desperate for associates amid a booming M&A market

A sudden skyrocketing boost in demand for the junior lawyers who help hammer out deals mirrors the huge surge in global mergers and acquisitions that hit a record high $4.33 trillion by the end of September, surpassing the prior mark of $4.1 trillion in deals for the entirety of 2007, according to Reuters. The M&A boom, which included a frenetic summer that saw a spike in deals compared with the same time period in 2020, also has seen senior M&A partners become recruiters.

4 surprising benefits of using legal analytics tools

Legal analytics continue to be a necessary and growing part of how modern attorneys approach case strategy and research. Analytics tools enable attorneys to bring data-driven decision-making to their practice and business, improving both the quality and the efficiency of work they perform for their clients.

Are virtual offices here to stay?

The virtual law office—once a niche curiosity reserved for sole practitioners and a fraction of traditional firms—suddenly flowered, forced by necessity out of high-rise towers and into personal homes in the dark, uncertain pre-vaccine days.

Some attorneys liked parts of their pandemic lifestyles so much, they’ve made some changes permanent

Attorneys across the globe pivoted during the pandemic, bringing their work home, shifting their hours and slowing down—for the most part. Their happy hours moved online, their meetings were held on Zoom, and their documents were signed electronically.

Nonfungible tokens are all the rage now. What are they, and what should buyers watch for?

Along with rights to online video clips, nonfungible tokens can be used to represent ownership of all sorts of original digital items, including images, audio clips, collectible e-cards—even a copy of William Shatner’s tooth X-ray.

How lawyers are using the Clubhouse app to build their businesses and make new connections

Since Francesca Witzburg left Dentons last year to join an intellectual property firm, the New York City-based attorney has used social media to help her build a client base from scratch. One platform she has found particularly helpful with business development is Clubhouse, the audio-only app that allows users to pop in and out of “rooms” featuring conversations about a variety of topics.

Probate lawyers are taking steps to secure LGBTQ+ families’ rights in case Supreme Court limits them

Family law could look very different in the near future, especially for nontraditional families, who are concerned that their protections may not be as secure. This is why many estate planners are advising that these clients create and make changes to their legal documents stat.

How law firms should approach collections for financial success

By many accounts, law firms got through the financial challenges of 2020 by making deep cuts to expenses. And while that strategy seems to have worked, firms have likely reduced spending as much as they can and will have to focus on other aspects of the revenue cycle to propel their recovery.

How do firms benefit from hiring a CFO?

It’s a well-worn cliché that lawyers are lousy businesspeople. As a result, many of the larger firms have already turned to financial specialists to help. More than 70% of Am Law 200 firms and over 85% of Am Law 100 firms employ a chief financial officer. The larger the firm’s revenue, the more likely it is to hire a CFO. But what about small firms or solo practices?

The new frontier of health care is here, but will DNA privacy be lost?

Advocates are concerned about the privacy of data collected by genetic testing companies; what control consumers have over their DNA data once it’s been submitted to 23andMe and other genetic testing firms; and what recourse consumers have if companies’ assurances of privacy prove unreliable.

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