About the author
Eric A. Welter is an employment lawyer and litigator with the Welter Law Firm, P.C. in Herndon, Virginia. He is licensed to practice law in Virginia, Maryland, Washington D.C., Texas and California.
The Welter Law Firm represents and advises employers on all aspects of the employment relationship and represents businesses in commercial and franchise litigation. The firm’s offices are located in Northern Virginia; Los Angeles, California; and Austin, Texas.
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Category Archives: Law Firm Economics
Minimum Fee Requirements For New Clients?
According to a post at Law Department Management, DLA Piper — “soon to be the largest law firm in the world” — has distributed a draft strategic plan that calls for a minimum annual billing requirement for new clients. More … Continue reading
Posted in Law Firm Economics
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Big Law in Canada Costs More Too
An interesting survey conducted by the Canadian Lawyer suggests that using a large firm (more than 25 lawyers) to handle a two-day civil trial costs clients on average over twice as much as using a 5-25 attorney firm. The survey … Continue reading
Posted in Law Firm Economics
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Shortage Of Legal Work At Large Firms Causes Clients To Pay More
An article in the DC Bar’s April 2010 Washington Lawyer caught our attention. The article is entitled “Cost and Effect: Financial Outlook Forces Law Firms to Reexamine Billing, Head Counts, and Services.” One observation made in the article is that the shortage … Continue reading
Is Your Lawyer Too Concerned About Making Money?
We were intrigued to read last week about a recent study on the state of the legal industry. Frequent readers are already aware of our series of posts on law firm economics. One graph from the study, however, caught our … Continue reading
“Prying [the] cash out of our clients’ hands”
Not exactly the kind of attitude most clients want their employment law attorney to have. More after the break.
Posted in Law Firm Economics
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“The Most Oppressive Motion Ever Presented To A Superior Court”
Not exactly the way you want your employment lawyer’s summary judgment motion described by the court of appeals. Followers of this blog are aware of our occasional commentary on “law firm economics,” namely, how large, institutional law firms manage to … Continue reading
Law Firm Economics — Recession Style
Former law clerks to the U.S. Supreme Court may no longer get $250,000 signing bonuses. Law.com article here. “Cravath, Swaine & Moore LLP, the fifth-most profitable U.S. law firm, is offering $80,000 to incoming lawyers to defer their starting dates … Continue reading
Law firm economics, 2009-style
“Companies dump big Wall Street law firms for smaller, cheaper outfits.” UPDATE: Additional thoughts on this topic here.
BigLaw Ensures Profits In Downturn Through “Alternative Billing” Arrangements
An email I received yesterday regarding a seminar on increasing law firm profitability in a down economy caught my attention. The email caught my attention not because of the topic, but because of one of the bullet points within the … Continue reading
Decisions Reveal Priorities In Law Firm Economics
We have been discussing law firm economics and employment litigation in a recent series of posts – here is the most recent. One theme we have been emphasizing is that law firms are businesses too, and businesses make decisions about pricing … Continue reading
Are Alternate Billing Arrangements The Answer?
Law.com has an article today called “Billing Gets Creative in Souring Economy: Retainers, flat and ‘success’ fees in play.” The article discusses the efforts of large corporations to reduce legal expenses with new alternative billing arrangements such as fixed fees, … Continue reading
More On Law Firm Economics As It Relates To Employment Law
In a recent post, I commented on the economy and law firm economics. An article on Law.com today discusses some of the same pros and cons of hiring super-sized institutional law firms — Why Law Departments Should Beware Super-Sized Firms. The author, … Continue reading
Economy Impacts Law Firm Economics — Are There Other Alternatives?
The Washington Post reported yesterday here that law firms are tightening their belts as clients increasingly demand reductions in legal fees. As the economy shifts, even old line firms with substantial revenues have failed. But as we have noted elsewhere, … Continue reading
