» Practice Tips

The 80-20 Rule and What It Means to Your Law Practice

The “80-20 Rule”, also referred to as the “vital few and trivial many rule” is a principle based on work of Italian economist Vilfredo Pareto. His 1906 observation that eighty percent of the wealth of Italy was owned by twenty percent of the… Read More
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Categories: Practice Tips

ENGAGING LAWYERS IN A PROFITABLE SPEAKING INITIATIVE

ENGAGING LAWYERS IN A PROFITABLE SPEAKING INITIATIVE Most lawyers are uncomfortable in the public speaking context and those who DO speak have not been trained to structure presentations that bring clients in the door. No wonder so many believe it is… Read More
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Categories: Practice Tips

How to Make Your Staff More Productive

Most lawyers are ill equipped to deal with practice management challenges. After all, law schools offer few courses on the topic and the emphasis in the CLE world is on substantive law and skills. As a practice builds, most ultimately hire one or mor… Read More
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Categories: Practice Tips

Should You Manage Your Own Investment Portfolio?

According to a 2012 Investopedia article1, the market share of online brokers increased by three percentage points while the market share of other retail brokerages lost four percentage points. This apparent uptick in the number of Do-It-Yourself inv… Read More
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Categories: Practice Tips

Have you developed a "Mistake" process in your organization?

The Mistake Process “Mistakes are a part of being human. Appreciate your mistakes for what they are: precious life lessons that can only be learned the hard way. Unless it’s a fatal mistake, which, at least, others can learn from.” –… Read More
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Categories: Practice Tips

Practice Tip: Limiting Scope of Representation

BE SURE TO INCLUDE A CLEARLY DRAFTED, UNAMBIGUOUS SCOPE OF REPRESENTATION CLAUSE IN EACH AND EVERY RETAINER AGREEMENT YOU DRAFT. This can be one of the most important clauses in a retainer agreement. If a client claims that the attorney failed to com… Read More
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Categories: Practice Tips

Practice Tip: Avoid The Problem of Unintended Representation

Imagine the following scenario: A potential client consults with you to seek an opinion as to the merits of a potential cause of action. You tell him or her that you don’t think that there is a case but that because of your lack of expertise in thi… Read More
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Categories: Practice Tips

Story From The Trenches: Conflict of Interest

Attorneys are notorious for telling war stories and some of them even have a point. Here is one recently shared with me that drives home an important lesson. Attorney A represented Client A while Attorney B represented Client B with respect to a liti… Read More
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Categories: Ethics, Practice Tips

Establish And Implement A File Retention and Destruction System

The conclusion of a client matter does not terminate the attorney’s responsibility with respect to the file (whether physical or electronic). Although this issue was clarified in New Jersey over a decade ago, many law firms are still unsure as to h… Read More
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Categories: Practice Tips

Always Send Disengagement/Termination Letter

A disengagement/termination letter notifies the client that the attorney/client relationship is terminated at least with respect to a particular matter. Set forth in clear terms the reason for the termination. If the matter is simply concluded, be su… Read More
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Categories: Practice Tips