Entries by Gideon Grunfeld

Florida Bucks the Trend Toward Nonlawyer Ownership

With all the changes impacting law firms right now, it would be easy to overlook an important regulatory development that recently took place. In November, the Florida Bar Association’s Board of Governors unanimously voted down proposals to test nonlawyer ownership and fee sharing in legal practices. The decision represents a sharp deviation from the trend […]

ABA Ethics Opinion Allows Passive Investment in Out-of-State ABS

On September 8, the American Bar Association (ABA) addressed lawyers’ ethical obligations as investors in firms with nonlawyer owners. Formal Opinion 499, issued by the Standing Committee on Ethics and Professional Responsibility, permits attorneys throughout the country to act as passive investors in Alternative Business Structures (ABS) that may not be allowed within a given […]

Law Firm Compensation & Culture

As we approach Labor Day, law firm managing partners should re-evaluate the connection between compensation structure and firm culture. This is a good time to review financial data, identify patterns, and, if appropriate, negotiate a new compensation plan to implement for next year. Perhaps there’s not much cross-marketing going on at your firm. Perhaps partners […]

The Boutique Firm Business Plan for 2021

As managing partners and practice group leaders weigh the costs and benefits of returning to their offices, they should take advantage of the next six months to modernize their business plans. Three areas in particular are especially ripe for new approaches right now – real estate, practice area mix, and talent acquisition. Lawyers are creatures […]

Should All Your Employees Return to the Office?

With vaccination rates rising and states reducing restrictions around COVID-19, discussion in the legal services industry has turned to whether and to what extent law firms will require their people to return to offices. A lot of media reports have framed this issue as a tug-of-war between managers and their workers. The simplified conclusion is […]

The Time Is Now for CA Lawyers to Voice Their Opinions on Nonlawyer Ownership in Law Firms

Members of the State Bar of California’s Closing the Justice Gap working group are split over how broad to make the state’s trial of regulatory changes. The board of trustees approved the working group, which is tasked with considering changes in nonlawyer ownership and fee sharing, in May 2020. Its SCOPE subcommittee is currently debating whether or not the organizations […]