ABA Journal

Mind Your Business

24 ABA Journal Mind Your Business articles.

The Great Resignation: The toll taken on the legal field and what comes next

The COVID-19 pandemic has shifted much about what we once considered business as usual. It has created unmatched levels of flexibility across industries—many of which had very few flexible options pre-pandemic.

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.

Tips for Better Billing: Why practice management software is critical to business success

When the COVID-19 pandemic stormed into our lives in 2020, many U.S. law firms saw increased demand for their services and a greater need for efficient operations.

The winners in law’s ‘Great Resignation’ will be firms that focus on innovation, not compensation

Law had an attrition problem before the pandemic hit. Now it’s in hyperdrive, dovetailing with a wider movement of dissatisfied workers quitting their jobs in the wake of lockdown restrictions, in what economists have dubbed the “Great Resignation.”

3 key steps to take to prep for the rise in antitrust investigations

From technology behemoths buying up dynamic startups to market-leading utility companies joining forces, there is a clear trend of market consolidation in the U.S. In the quest to curb the monopolization of industries, President Joe Biden signed an executive order in July promoting competition in the economy—which signals an upcoming increase in antitrust investigations for the legal industry.

Looking to start 2022 on the right foot? Take our advice

At the ABA Journal, we love to produce magazine features like the 50 startup tips to get your practice off the ground. But we also think that it's important to provide a platform for the experience and wisdom of legal professionals year-round. Here are our favorite columns from 2021 in our Your Voice, Mind Your Business and On Well-Being sections, with advice for improving your practice and your personal life in 2022.

5 things lawyers should know about artificial intelligence

AI has been the subject of academic research since the ’50s, but it’s still in its infancy across much of the broader economy. Before advising clients on AI issues, lawyers should have some basic tech knowledge to answer questions about legal compliance.

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.

Can your law firm afford not to redesign its website?

Modernizing your website isn’t superfluous to your business plan—it’s a key part of its success, according to this legal sector-focused brand strategist and multidisciplinary designer.

Top 5 most important judicial analytics metrics

The judge in your case has immense discretion to decide the pace and outcome of your case. Given this truism, what judicial qualities can you measure in advance to best set you and your client up for success?

For immigration law, a perfect storm creates challenges and opportunities for firms

Three key developments are driving a dramatic increase in U.S. immigration activity in 2021. As a result, immigration law firms are bracing for a huge influx of cases. In this rapidly evolving practice area, technology and process automation are increasingly important for immigration attorneys seeking to meet the challenge.

Top 4 unexpected culture killers for post-COVID-19 hybrid work

While individual schedules will vary, on any given day, firms will have a segment of their team in the office, and another segment dispersed. After more than a full year of working remotely, this will be yet another disruption for law firms to endure.

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.

Should you incorporate your firm as an S corporation?

The business entity you select for your firm has enormous implications for your annual tax liability. In addition, determining whether to make additional tax elections with the IRS can be one of the more confusing aspects when establishing a law firm. Which structure is right when you start your firm? Should you start with one structure and modify it down the line? What tax advantages could you gain from a change?

Demographics as destiny: Making the case for law firm diversity and inclusion

“For many years now, it has been well documented and reported that promoting diversity is an unequivocal pathway to success, and of the many routes that lead to law firm advancement, this pathway is simpler and less expensive to achieve.”

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