News
Claims Gets Its Piece of the IT Pie
05-13-2013
Claims has long waited its turn at the table for technology investment dollars, but recent trends suggest the fortunes of claims departments are improving.
Link to ArticleHow lawyers are mining the information mother lode for pricing, practice tips and predictions
05-01-2013
The day is here: Big data, loosely defined as the computer analysis of torrents of information to find hidden gems of insight, is slowly transforming the way law is practiced in the U.S.
Link to ArticleFollow the Money, The American Lawyer
04-26-2013
Client demand for Am Law 100 hours dipped last year even as invoiced rates jumped.
Report urges General Counsel to take up e-Billing
04-26-2013
A report, ‘Information Governance for Lawyers: Legal Spend Management’, written by ex-European GC editor, Patrick Wilkins, published by Talklegal.com in association with TyMetrix, has called upon general counsel to make more use of advanced technology to help them with e-billing, e-discovery, and multi-jurisdictional hourly rate comparisons.
Link to ArticleDefining credible benchmarks for outside counsel spend
04-24-2013
TyMetrix Adds VP of Product Management, VP of Global Operations
04-24-2013
TyMetrix Inc. adds two new executives to oversee its legal software and legal analytics product lines. The company has named Deepthi Bathina as vice president of product management and marketing, and André K. Jett as vice president of global operations.
Link to ArticleMaking Claims Data Actionable for Litigation Management
04-16-2013
Implementing a consolidated litigation management solution helps insurers trim claim expense costs, streamline and automate workflows, and enforce best practices throughout the claims discipline.
Link to ArticleThe Wall Street Journal: On Sale: The $1,150-Per-Hour Lawyer
04-10-2013
Top partners at leading U.S. law firms are charging more than ever before, yet those hourly rates aren't all they appear to be.
Link to ArticleDefying the odds – how Ladbrokes' legal overhaul helped it stay ahead of the pack
03-01-2013
While other retailers have suffered in the recession, the gambling sector is thriving.
Link to ArticleTyMetrix Legal Analytics to Highlight “Big Data and the Business of Law” at LegalTech New York 2013
01-29-2013
TyMetrix, the global leader in intelligent solutions for managing the business of law, announced today that it is sponsoring the panel session track, “Big Data and the Business of Law: Gaining Perspective on your Performance vs. your Peers,” at LegalTech® New York 2013, taking place today through Thursday, at The Hilton New York located at 1335 Avenue of Americas in New York.
Link to ArticleLegal IT Insider: The Orange Rag - New Report looks at how corporate law departments are allocating legal work
01-28-2013
New Report looks at how corporate law departments are allocating legal work
Link to ArticleLegalweek.com: Ladbrokes bets on change with major panel review and end to hourly billing
01-17-2013
Gaming company cuts panel from 50 to 22 firms and extends appointment terms
Link to ArticleABA Journal: Legal Fees Jump 15 Percent over Two Years, Even as Billables Remain Flat, Study Says
01-14-2013
Law firms are reaping more in legal fees, likely because of rate increases and clients willing to pay top dollar for the best legal talent, according to a study of legal spending data.
Link to ArticleAbove the Law: New Data on Hours, Billing Rates, and Corporate Legal Spending
01-14-2013
What does 2013 hold for the world of large law firms? Let’s look into our crystal ball.
Link to ArticleWhat the Evolution of Data Analytics Has in Common with a Triathlon
01-10-2013
Ari Kaplan Esq. discusses the leading trends that will shape the legal marketplace in 2013 and beyond, including the endurance required to realize the evolution of technology and professional services with Craig Raeburn, managing director for TyMetrix Legal Analytics.
Link to ArticleThe American Lawyer: TyMetrix Data Shows What Big Law Clients Buy
01-10-2013
Hours are flat, but client spending is up for both partners and associates. Clients have increased the amount of work they're giving to Am Law 200 firms. And lawyers who are paid at least $800 per hour now account for an increasing cut of the U.S. legal market.
Link to ArticleThe American Lawyer: What Clients Bought
01-06-2013
Hours are flat, but client spending is up for both partners and associates.
Link to ArticleEuropeanGC: Information Governance for Lawyers
12-03-2012
In the few decades during which information technology has been busy transforming the corporate world, it is fair to say that corporate legal departments have fallen notably behind in embracing it as the great tool of efficiency and change it can be.
Download Now Hartford Analytics Firm Evaluates Legal Fees
11-12-2012
To best economize their legal spend, businesses should look for lawyers in smaller firms in non-major markets, such as Hartford, according to a Connecticut analytics firm.
Link to ArticleSpend Management: Onwards and downwards
11-06-2012
The good old times seem to be over for both in-house counsel and private practice lawyers. Today, legal departments around the world have to exercise cost control, ‘do more with less’, and are expected to save money and reduce risk.
Link to ArticleOf Counsel: The Legal Practice and Management Report (see page 6)
11-02-2012
Big Data.
In-house managers and other legal professionals have entered the Age of Analytics. Craig Raeburn, Jr. takes a comprehensive, step-by-step look at a process with substantial benefits at every strategic and operational level.
Download Now New tools put legal bills under microscope
10-19-2012
The rise of legal analytics firms has brought a new level of transparency to legal bills while ratcheting up the pressure on law firms to justify their rates.
Link to ArticleUsing Big Data to enable better leadership: 5 steps to using data to assemble a strong team
10-01-2012
This article is the third in a four-part series, designed to help corporate law departments gain new insight into the application of “Big Data” in the legal industry.
When we hear the word “leadership,” particularly in the business of law, many of us are compelled to think about ways that we as business leaders can take smart chances and apply new and unique best practices to deliver competitive advantage and stellar performance.
Link to ArticleBloomberg Law: Legal Metrics: A New Model for the 21st Century, By Roger Potter
09-27-2012
“If you can measure that of which you speak and can express it by a number, you know something of your subject; but if you cannot measure it, your knowledge is meager and unsatisfactory.” LORD KELVIN (mathematical physicist and engineer)
Link to ArticleProcurement Process Embraces Legal Services by Ari Kaplan, Law Technology News
09-24-2012
In the beginning of 2012, Microsoft reduced its stable of approximately 25 law firms handling its global portfolio of real estate transactions in 68 countries to one.
Link to ArticleBloomberg Law: Legal Procurement: Sourcing is a Team Sport
09-03-2012
Practioner Contributions
Link to ArticlePutting Data to Work
08-23-2012
"Data is a precious thing and will last longer than the systems themselves." - Tim Berners Lee
Download Now Houston lawyer rates grow faster than in most cities
08-17-2012
Lawyers in the city have on average raised their hourly rates at the fourth-fastest pace in the nation, trailing only Boston, New York and San Jose, a legal analytics report shows.
Link to ArticleCost optimization realized through “Big Data”
07-27-2012
As the business of law continues to evolve, corporate law and claims departments and law firms must identify new ways to optimize spend and increase efficiencies.
Link to Article‘Entry’ Fee: Surprise–Inexperienced Associates Cost More
06-26-2012
"Since the recession, in-house counsel have been increasingly reluctant to pay fees for entry-level associates,” The 2012 Real Rate Report notes. “General counsel often feel that they end up paying for entry-level lawyers’ on-the-job training.” And the report uses actual billing data from 2007 to 2011 to show an increased cost of using associates with less than two years’ experience.
Link to ArticleA Closer Look at Top-Dollar Attorneys' Fees - Bankruptcy Beat
06-06-2012
More attorney's than ever are charging $1,000 an hour or more as the U.S. governments bankruptcy watchdogs are questioning the extraordinarily large fees of the nation's top-flight restructuring lawyers.
Link to ArticleBig Data Meets BigLaw
06-01-2012
Will algorithms be able to predict trial outcomes?
"What are the odds of winning this case, and what's it going to cost me?" Those are questions clients routinely ask their attorneys.
Link to ArticleHow to leverage “Big Data” to better manage the business of law
05-08-2012
“Big Data” is a term that is capturing a lot of attention. Almost every industry is involved with some type of transaction that leads to mass amounts of data.
Link to ArticlePittsburgh-area law firms see hourly rates dip from 2009
05-04-2012
In 2009, partners at Pittsburgh law firms were paid a mean hourly rate of $487. By 2011, this rate had fallen to $460, a decline of 5.5 percent.
Link to ArticleLawyer inflation: With economy mending, many firms return to raising rates
04-27-2012
Boosting rates — the time-honored tactic of choice for law firms to beef up profits — was temporarily put on hold by many firms during the recession.
Link to ArticleLaw Firm Insider
04-25-2012
A new report released by Corporate Executive Board and TyMetrix found that hourly rates charged by major law firms rose nearly 50 percent over the past decade.
Link to ArticleStates With The Highest-Paid Lawyers: Report
04-20-2012
A law degree might not be quite the golden ticket it used to be, but for the average lawyer in most states, it’s still a six-figure profession.
Link to ArticleMid-sized firms show caution in boosting billing rates
04-19-2012
New York City firms raised their attorney billing rates on average by 12 percent in the last few years, the second highest change in rates among lawyers in various U.S. cities, according to a new report, which also shows that a lawyer's billing rate is determined more by law firm size and location than by status, experience or practice area.
Link to ArticleLatest Billing Rate Report: The Rich Keep Getting Richer
04-17-2012
Hourly rates just keep rising—and the best-paid lawyers are raising their rates faster than everyone else.
Link to ArticleRich lawyers are getting richer faster
04-17-2012
The gap between legal fees charged by the top-billing lawyers and those on the lower rungs is growing wider, according to a study released Monday.
Link to ArticleBillables Rate, Archer & Greiner, Shearman: Business of Law
04-17-2012
The rich are getting richer and the less-rich are getting almost nowhere, among lawyers that is.
Link to ArticleLaw firm billing rates steadily climbing despite down economy
04-17-2012
At a time when corporate purse strings are still cinched relatively tightly, legal departments probably aren’t popping champagne bottles over the news that rates for their outside counsel are continuing to rise.
Link to ArticleWSJ on ever increasing hourly rate: anyone else get a sense of deja vu?
04-17-2012
The front page of today’s Wall Street Journal contains an article analyzing hourly rate increases amongst lawyers. After noting that average rates for top-end partners rose to $873, the Journal provides this insight (from TyMetrix data):
Link to ArticleNew billing rate study
04-17-2012
Software company, TyMetrix Legal Analytics, in association with Corporate Executive Board, has announced publication of the 2012 Real Rate Report.
Link to ArticleWhat do law firm rates tell us?
04-17-2012
Some of you may have noticed that the latest edition of the Real Rate Report is out from TyMetrix and the Corporate Executive Board, and it contains some tantalizing figures.
Link to ArticleLawyers boost hourly rates in 2011
04-16-2012
The highest hourly-billing lawyers increased their average price by nearly 5 percent last year, while lawyers in the bottom quartile managed a 1.3 percent increase, The Wall Street Journal reports.
Link to ArticleWhen It Comes to Billing, Latest Rate Report Shows the Rich Keep Getting Richer
04-16-2012
Hourly rates just keep rising—and the best-paid lawyers are raising their rates faster than everyone else.
Link to ArticleThe Law Profession’s One Percent
04-16-2012
For those of you keeping track of the legal profession’s equivalent of the one percent: the most expensive lawyers in the U.S. are getting even more costly, while their less-fortunate brethren at the bottom 25% of billers struggle to keep pace with inflation.
Link to ArticlePriciest Partners Had an Average Hourly Rate of $873 an Hour Last Year
04-16-2012
A new study shows a growing divide between law firm partners who charge the highest and lowest fees.
Link to ArticleRich Lawyers Are Getting Richer, And Poor Lawyers Are Getting Poorer
04-16-2012
While most lawyers suffer unemployment or relatively low pay, the top few are cashing in like never before.
Link to ArticleLawyers Face Widening Pay Gap
04-16-2012
Income inequality is a problem among lawyers, too.
Link to ArticleEven lawyers face income inequality
04-16-2012
The income gap is widening — among lawyers.
Link to ArticleRich lawyers are getting richer faster
04-16-2012
The gap between legal fees charged by the top-billing lawyers and those on the lower rungs is growing wider, according to a study released Monday.
Link to ArticleBiggest Rate Hikes Come From Top-Paid Attys, Report Says
04-16-2012
Hourly rates for the most expensive lawyers are rising the quickest, according to a report on legal billing rates released Monday, signaling to some that major law firms are settling back into prerecession charging habits.
Link to ArticleBiggest Lawyers Grab Fee Bounty
04-15-2012
The priciest lawyers in the U.S. are getting even more expensive, but those at the opposite end are getting left behind.
Link to ArticleSoftware To Help You Keep Up With Jones & Jones
03-05-2012
New analytical product tracks law firms’ performance, pricing and more
Ever wonder what your competitors in the area are charging for their work, how they’re structuring compensation or how long it takes them to resolve a case? John Weber makes it his business to tell you.
Link to ArticleStrategies: The Journal of Legal Marketing
03-04-2012
The Influence of Procurement on teh Purchasing of Legal Services (See page three, Getting to Know Procurement by Dr. Silvia Hodges)
Download Now LegalTech New York Seems to Hold More for the Big Fish
02-15-2012
The pocket protector Star Trekky side of me secretly hoped that LegalTech New York, ALM's annual technology conference, would be a gathering of my people. So, when I walked in and spotted a guy who was dressed head to toe in an outfit that looked like he just emerged straight out of The Matrix, I was psyched.
Link to ArticleA Chat with Dr. Silvia Hodges on How to Prepare for the “New Normal” in Private Practice
02-13-2012
As law students, most of us generally don’t think we need to worry about strategies for marketing ourselves or learning how to build business for our future employers. Dr. Silvia Hodges, an expert in the field of legal marketing research, shares with Ms. JD that a new era in the legal services industry is approaching and now is the time to prepare yourself and your firm for the challenges of the soon-to-be new normal.
Link to ArticleWhich Metrics Matter Most?
02-03-2012
Firms need to avoid less productive metrics like non-billable hours and start measuring hours spent on business development, follow-up frequency and quality touches with centers of influence.
Link to ArticleLegalTech Takeaways: Cost-Saving Tips, Government E-Discovery
02-02-2012
E-discovery cost reduction using data mining software, and e-discovery tips for cases involving the U.S. government, were two of the unique sessions at LegalTech New York on Wednesday.
Link to ArticleIntelligent Application of Automated Workflows: From the January 2012 issue of Claims Magazine
01-24-2012
It is no surprise to find that, in most lines of business, claims managers are assuming heavier caseloads. With 250 or more open files to manage, mastering the multitude of timelines involved with litigated claims drains precious time.
Link to ArticleLegal Rebels
10-12-2011
Several recent stories have raised issues about what we might call “Professionalism in the New Normal.”
Link to ArticleLegal Value Scoring
09-06-2011
The Wall Street Journal published an article last month that grabbed the attention of many attorneys: "Lawyers Spooked by Reverse Auctions." The article discussed how some large companies, including eBay and Sun Microsystems, have been using reverse auctions (also known as competitive bidding) to pit law firms against one another for their business.
Link to ArticleUnderstanding the Business of Law: Data-Driven Decision-Making for Corporate Legal Departments
08-31-2011
Link to ArticleLegal Spend Intelligence - What do you charge? Are you paying the right amounts?
05-11-2011
Link to ArticleTyMetrix Data Solutions Provides the Industry's First Products and Services to Empower Legal and Claims Professionals
05-04-2011
Link to ArticleForbes
04-26-2011
Ben Kershberg: Law & Technology Business Intelligence and Legal Matter Management
Link to Article
