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Business of Law


Thursday, July 19, 2018 @ 8:59 AM

Lawyers need balance as well as good business skills worklifebalance_sm.jpg

Running a law firm is actually running a business. Lawyers are good at, well, lawyering. Many are not good business people. Where do you learn how to pay attention to your expenses, accounts receivable, your Work-in-Progress (WIP), and your client default rate? It is not taught in law school, so unless you are fortunate enough to have a savvy lawyer who is your mentor, or a really sharp managing lawyer, your law firm may experience some unwanted turbulence. ... [read more]

Friday, July 13, 2018 @ 8:38 AM

Common social media traps for law firms | Kim McLaughlin

I often hear the refrain “social media doesn’t work for lawyers” or “we tried it in 2016 and it didn’t do anything for us.” Law firms often have a tough time with social media, and it comes down to four common traps that lead to underwhelming results. Here they are. ... [read more]

Wednesday, July 11, 2018 @ 9:30 AM

In blockchain we trust Manoncomputerchip_sm.jpg

The first thing we do, let’s disintermediate all the lawyers. Imagine a virtuous world where someone says they would do something and then actually did it. Blockchain promises to revolutionize the economy since the need for virtue simply disappears. ... [read more]

Tuesday, July 10, 2018 @ 10:30 AM

The art of diplomacy and in-house counsel diplomacy_counsel_sm

While practice in a law firm has its own well documented challenges, in-house counsel face different ones. For example, law firm counsel must develop and maintain client relationships, while in-house counsel have only one client: the company. However, within the company, there are numerous people with which the legal department must develop and maintain relations. In both cases, these individuals represent the corporate client: a VP may represent the company as a new client for a law firm, while that same VP is someone who in-house counsel should have a relationship with to represent the legal department. You might call it diplomacy. ... [read more]

Monday, July 09, 2018 @ 9:35 AM

Mercer takes charge at LSO as self-regulator faces governance, tech issues Malcolm Mercer sm

In his first address to Convocation, Malcolm Mercer, the newly elected treasurer of the Law Society of Ontario (LSO), confided that he was a little bit nervous. However, that humble declaration is backed up by a serious desire to ensure the legal profession is “listened to and understood” while maintaining the self-regulator’s mandate to govern in the public interest. ... [read more]

Tuesday, July 03, 2018 @ 9:36 AM

LSO approves guidelines for working with Indigenous people, gets paralegal licensing update William McDowell sm

The Law Society of Ontario’s (LSO) first Convocation under new treasurer Malcolm Mercer saw the approval of guidelines for lawyers working with Indigenous clients and an update on the state of paralegal licensing. The motion to approve the guidelines was brought forward by William McDowell, chair of the Professional Regulation Committee, who noted that the committee directed a review of the “Guidelines for Lawyers Acting in Cases Involving Claims of Aboriginal Residential School Abuse” in May. ... [read more]

Friday, June 29, 2018 @ 9:30 AM

Mercer elected LSO treasurer, recognizes role of technology Paul Schabas and Malcolm Mercer sm

After two rounds of voting, the Law Society of Ontario’s (LSO) Convocation erupted into applause as Malcolm Mercer was elected as the governing body’s 67th treasurer. Mercer, who edged Jaqueline Horvat 34-24 on the second ballot, was congratulated by former treasurer Paul Schabas as he took his leave of the law society. ... [read more]

Wednesday, June 27, 2018 @ 11:39 AM

Increase your success with lateral hires | Gary Mitchell

What is a law firm without great talent? Empty office space! There are so many reasons law firms need to do more to empower their lawyers and staff to excel in their careers. One of the most critical areas I see for improvement is how you onboard your newly acquired talent. ... [read more]

Wednesday, June 27, 2018 @ 11:14 AM

Fasken uses HighQ’s cloud-based tech for client collaboration portal Robert Garmaise

In a move that will allow the firm to better collaborate with clients and share information, Fasken Martineau DuMoulin LLP is launching a cloud-based client portal. “We see opportunities to collaborate more richly on document authoring, review, archiving, signing documents, you name it. [We can let] clients launch new transactions that then become new documents. In our current framework, where we had things stored behind the firewall, we had great security here internally, but then we’d go to e-mail things and the security kind of disappears as soon as you do that,” said Robert Garmaise, chief innovation officer at Fasken. ... [read more]

Monday, June 25, 2018 @ 11:05 AM

Companies team up to make estate management, creditor notifications easier Patrick Hartford and Grant Goldrich

A long-established legal technology company is teaming up with a legal-tech startup with the goal of making it a more seamless process for trustees to manage estates and publish notices to creditors. ... [read more]