Proskauer Rose LLP on LinkedIn: Proskauer Receives Top Rankings in Chambers USA 2024 - Insights -… (2024)

Hungry for growth: IP practice chairs reveal what's on their platehttps://lnkd.in/eREqApiUThe leaders of the IP group at four law firms explain what they’re trying to accomplish and how they plan to do itQuotes from Christopher Hanewicz(Perkins Coie LLP), Scott J. Bornstein (Greenberg Traurig, LLP), Lisa Ferri (Mayer Brown) and Emily Whelan (WilmerHale).#ipstrategy #growth #businessoflaw

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Interesting article as the legal community is closely watching the dynamics of law firms and partnership prospects. Simpson Thacher promoted more London lawyers than others, changing from previous years. Their strategic move of adding a non-equity layer to the partnership has led to a notable increase in promotions, particularly at the junior level. https://lnkd.in/eXuVV5nJ#promotion #partnership#lawfirmstrategy

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Increasing the non-equity partnership ranks in a BigLaw firm isn't a guarantee of long-term financial success, including profitability.In some firms, non-equity partnership seemed like a good path, until compensation for that role took a substantial hit, as the need to pay high-profile, equity partners increased and the non-equity ranks grew. At the same time, some non-equity partners have been told they to work much harder despite that lowered compensation - think billable targets of 2,300 or 2,500 hours annually or more -- to grow revenue for the firm.And many senior associates see a tougher path even towards non-equity partnership, as they watched heavy lateral hiring that increased partnership ranks overall but will force them to wait longer, without a sense of when or if they will advance in their careers at the firm.I've heard these specific concerns from my clients, many of whom are looking to leave their AmLaw 100 firms, including those at the very top of that listing, because of these issues.Without managing the talent pipeline, firms risk losing top associates, counsels and non-equity partners that are critical to increasing and maintaining robust PEP over the long term. And turnover, churn, and replacement of key talent can make it harder to continue to meet ambitious financial goals.Will BigLaw firms find a solution? The American Lawyer analyses this week dig deeper - including as the numbers indicate that by next year non-equity partners will likely exceed equity partners as a percentage of all AmLaw 100 FTE lawyers. #biglaw #lawfirms #lawyerlife #lawfirmpartner #lawfirmcompensation #amlaw100 #lawyercoaching #lawyercoach #lawfirmmanagement #lawfirmsuccess #legalindustry #businessoflaw

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How do attorneys get derailed at their law firms?So often, what it really comes down to is lawyers having the support they need. That can mean many different things, including making sure those lawyers are:* Included on matters that are high value and high visibility for the firm, both internally and externally;* Getting the opportunity for direct client contact and being encouraged to develop client relationships of their own through those contacts;* Being re-directed and re-focused when warning signs come up, like falling short of billable hours or specializing in an area that won't work well for them at their firm, so that an issue doesn't become a trend that leads to a larger problem;* Not so overstaffed on matters that they are suffering in silence when the pace of work is unsustainable;* Given resources to whom they can turn for meaningful and practical advice when their work and progress at the firm feels uncertain or difficult or hard to gauge; and/or* Being heard when things go wrong or feel like they are off track.If lawyers don't get these things, they will leave because they don't feel valued - and being valued means that they have "work that meets their needs, expectations, or capacity," in a spectrum of ways. I hear this every day from my clients, including those that are trying to find a way to succeed in their law firms, but unsure what it is. So much starts by trying to identify what your best work can be and what resources you require to help you attain it - and then confirming whether your firm can provide the support you need.#worklife #lawfirmlife #biglaw #lawfirmculture #lawfirms #lawyercoach #lawyercoaching

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🎙️ Meet Ilona Logvinova, Director of Practice Innovation at Ilona Logvinova is a pioneering force in the world of legal innovation. Her journey to becoming a leader in practice innovation is filled with pivotal moments that have shaped her remarkable career. Join us as Ilona shares her inspiring path and reveals how she’s pushing boundaries to reimagine what’s possible in legal practice.In this episode, Ilona dives deep into how she’s transforming legal services by leveraging cutting-edge technology and innovative strategies. "We’re not just adapting to change; we’re creating it."Get an exclusive look into the future of legal practice as Ilona discusses emerging trends and the essential skills the next generation of legal professionals will need.🌟 Don’t miss this captivating conversation packed with insights on the future of law and innovation. Tune in to learn from Ilona’s experience and discover how she’s driving revolutionary changes at Cleary Gottlieb.For more on evolving trends, careers, and the business of law, follow the Cowen Group atwww.cowengroup.com📊📆#LegalInnovation #FutureOfLaw #LegalCareers #PracticeInnovation

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Southeastern firms collectively grew their revenue by 8.5%, which outpaced all Am Law Second Hundred firms’ 5.9% increase in 2023. Here's a look at the Atlanta-founded firms:🟦 Fisher Phillips rose three spots in the rankings after its revenue increased well above the Second Hundred pace.🟦 Smith Gambrell Russell continued its rapid move up the rankings by rising six spots.🟦 dropped 11 places after it reported its revenue decreased.🟦 Arnall Golden Gregory LLP dropped one spot despite its revenue rising.🟦 FisherBroyles, LLP rose four spots after it grew its revenues.🟦 entered the Am Law 200 after not being ranked in previous years.https://lnkd.in/gvJ4TnXG

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SCOOP: https://lnkd.in/eBF2zaEQFollowing a panel review process, private equity giants EQT Group has opted for UK duo Freshfields Bruckhaus Deringer and Clifford Chance. The appointments will be viewed as a coup for the firms, who have been in fierce competition with US firms for the top private equity mandates. Read the story on Law.com International

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The 2024 #AmLaw 100 rankings are out. Here are some notable takeaways form the American Lawyer: “While not a wholesale return to the historic highs of 2020 and 2021, fiscal 2023 brought collective growth in revenue, revenue per lawyer and profitability metrics.”🌟 Fifty-four firms posted gross revenue of $1 billion or more in 2023, four more than in 2022. Ninety firms reported gains in gross revenue.🌟 As a whole, average revenue per lawyer increased by 4.9%.In 2023, eighty-five firms posted a gain in RPL.🌟 As a whole, average PEP was up by 9.3% in 2023. Thirty-seven firms had growth rates of at least 10%, compared to 14 the prior year. Twenty firms had declines in 2023.Reach out to me at randall.yee@lhh.com if you'd like to discuss your local market. Maybe there's a right opportunity for you at one of these firms or at one of the many other firms that my team and I work with on a daily basis.#attorneys #lawyers #recruiting #careers #marketknowledgeTiffany Ambrose, Esq. Meagan McKinstry, Esq. Emily Lam, Esq Emily Chamberlin, esq.

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Nonequity Partner Growth Kicks Into High GearSeveral Am Law 100 firms grew their income partner ranks by double-digit percentages in 2023. Multiple factors are pushing firms to rapidly expand this tier of partners, observers say. Fried Frank Gibson Dunn Milbank LLP Paul Hastings #amlaw100According to the 2024Client Advisory from Hildebrandt Consulting and Citi’s Global Wealth at Work Law Firm Group,83% of large firms said they expected to increase their income partner population over the next two years—a figure the authorsdescribed as a “staggering jump” from the 68% of large firms who projected growth in that group the previous year.

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Great initiative by Legal Operators! The Silicon Valley KPI workshop is a unique opportunity for practical insights into legal ops. The focus on actionable takeaways is exactly what the industry needs. You don't wanna miss out on Mori and Mike's session!!

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