‘Productising’ legal services
Service businesses are hard to scale. Lawyers know this better than anyone. Income is intrinsically linked to time spent, even when working on a fixed fee, and cash recovery is lumpy. Lawyers [...]
The importance of WIP valuation
WIP valuation is often critically wide of the mark, says Rupert Hawke. As a law firm what’s the biggest number on your balance sheet? It is likely to be your Work-In-Progress (WIP). And here’s [...]
Failure to disclose – new CPS guidance is a serious risk for lawyers
Solicitors and law firms need be aware of recent CPS prosecution guidance update. It has potentially extended the reach of the ‘failure to disclose’ money laundering offence. What is a section [...]
Our performance was “supercharged” by employee ownership, says award-winning law firm
A market-leading incentives law firm credits its recent conversion to Employee Ownership Trust (EOT) as a key driver to its outstanding team culture and financial performance. “I can’t recommend [...]
Did you know…? You have to screen your employees for AML compliance? Here’s how
AML compliance posts are coming thick and fast. Is your firm caught by the Money Laundering Regulations? About three quarters of law firms are. Either because they provide a regulated service [...]
Should you convert your law firm to an Employee Ownership Trust (EOT)?
This Wednesday 13th October, Jonathon Bray is hosting a lunchtime webinar on the law firm EOT. Register here. A link to the recording will be be available through our COLP Insider newsletter on [...]
