denotes premium content | Nov 19 2008 
Managing Partner archive
Volume 5 Issue 5
The global marketplace is a familiar term, well ingrained in the strategic plan of the expanding business. Law firms are no different and in recent months, we have continued to witness the expansion of firms from the national to international level.
The desire to cross frontiers is clearly a powerful force and many law firms are prepared to accept any inherent risks of expansion in the hope that in the long term, they will reap the rewards of increased reputation, bigger clients and most importantly, greater profit. A good example of this is the Withers merger of earlier in the year. They have since recorded flat profits after spending at least £1m in fees for the transatlantic merger. In the long run however, the firm obviously hopes to compensate for the short-term shortfall and turnover has already increased by 11 per cent.
Success however, is far from assured and we have all witnessed failed mergers. Rarely is a merger announced without the news that another has de-merged. It seems that the easy part of the growth process is buying the office or merging with another firm. It is making a success of the resulting business that really defines the merit of expansion.
Perhaps first and foremost, a law firm and indeed, any business, should be wary of making assumptions. It seems obvious to link an international firm with the kind of profit that would fit its global scale. And, in the international marketplace, surely the global client will choose to work with the global law firm?
To a certain extent this may be true, but only if your firm is really working as a global company. If each office retains its own culture and individual working ethos, then who exactly will drive the global brand that is so essential to international recognition and success?
This factor is particularly relevant to law firms that have thrived on a traditional partnership model. Where partners have significant autonomy and a possessive view of their share and say in the business, it is difficult to see how firms can reconcile a national culture or brand, let alone a global one.
This month’s Managing Partner includes some interesting perspectives on effective law firm expansion from building a global brand to using the partnership model as a building block to future success. Jaap Bosman from NautaDutilh also provides some practical advice on combining resources across offices and locations.
I hope that you enjoy this issue and as ever, please let me know if you have any queries or comments at: cpoynton@ark-group.com.
Caroline Poynton,
Editor
Features
How to turn your law firm from good to great
Many an article will describe the strategies that law firms should employ to improve their success rate. However, going back to the root of success, which firms are considered to be the best and why? Justin Patten, a human resources consultant and solicitor, uses recent research to identify the most successful firms and what they have done to put themselves at the top of the pile.
Maximising return on your knowledge management investment
In the September issue of Managing Partner, we published the results of our KM survey 2002. One of the resounding messages from contributing law firms was that KM success equates with firm-wide support for the initiative. Byron Sabol, the CEO of Sabol International takes up this theme to explore what other factors can ensure the success of your KM investment.
Regulatory compliance: burden or opportunity
Regulatory compliance is a serious issue for professional services organisations, as recent high profile cases, including Jonathan Duff’s conviction, Enron and WorldCom, have illustrated. Asomi Ithia, a marketing communications manager at Perceptive Technology, examines why firms and their clients cannot afford to ignore the pressures to comply and how they can make an opportunity out of a burden.
They think it’s all over...
In most cases, the sending of the invoice will mark the end of a job well done. However, what happens when the debtors don’t pay? In law firms where a large number of lawyers are regularly billing time, an increasing level of debt can easily be lost under a whole pile of unpaid bills, which can ultimately lead to a serious loss of profit. Claire Turner, a solicitor with Bevan Ashford, highlights the steps that can be taken and the legal pitfalls of recovering debts both in the UK and abroad.
Building on the power of partnership: playing to the strengths of the traditional law firm
Many law firms are responding to the competitive marketplace by changing their management structure, expanding geographically and re-branding themselves as global businesses. By so doing, law firms may be hoping for a place in the top league but, as David Temporal, a partner at Temporal Consulting argues, they may be taking a risk too far.
A powerful network of networks: making the most of an international landscape
A lawyer’s network is one of his or her most important assets, providing a powerful source of information, contacts and new business. For a law firm operating in today’s international landscape, it is particularly important that partners know with whom other partners work or have contacts. At NautaDutilh, one of continental Europe’s largest law firms, they have created a relationship database that aims at leveraging the collective power of individual networks. In this article, Jaap Bosman, marketing director at NautaDutilh, looks at this application and the benefits it brings his firm.
Developing a global brand: inside and out
More law firms are now categorising themselves as international with offices spanning both continents and jurisdictions. How effectively, however, are these firms managing their global brand? Stephen Blundell, a director at Gracechurch Consulting, explores the global arena, examining how major corporates have led the way and how law firms might improve on their current performance.
Interview: online legal service delivery
The delivery of legal services is transforming to meet the needs of a global marketplace. This is particularly demonstrated in the development of online legal services where the client can access legal advice anytime and anywhere. Caroline Poynton talks to Paul Greenwood, director of knowledge and information services at Clifford Chance, about their online service and how he sees it adding to the overall progression of the firm.
Regulars
Manpower planning: the key to value
From November onwards, Managing Partner will feature a regular section devoted to recruitment trends across UK law firms. In this article, Lena Baillie, an HR consultant at Longbridge International, provides an introduction to the scene, explaining the core values of HR and why it is so essential to the make-up of a successful law firm. In the second part, she continues with a look at 360 degree appraisals.
Law firm profile: Davies Lavery
Davies Lavery has enjoyed rapid growth and success since its launch in 1987 and has recently won awards not only as a premier insurance law firm but also as an industry player. Caroline Poynton talks to Claire McKinney, the managing partner at the Birmingham office, about her experiences of the firm and how the practice has developed so far.
