Category

Law Firm 2.0

Bye Bye Billable Hours

I love it when I’m right.  I don’t gloat too much, but today will a bit, as part of my Law Firm 2.0 series is proving true:  the eventual demise of the billable hour. I won’t reiterate all of my thoughts on the subject.  If you are curious, check out my prior postings, but the…

Our Investment in Law Firm 2.0

Every time we make an investment, we blog about it on our Foundry Group site.  Today, I’m especially excited about our latest announcement, as the company is a "bulls eye" in my Law Firm 2.0 thesis.  You can read all about FirstDocs on the Foundry post, but what I’ll tell you shortly here is that…

Law Firm Fees Defy Economic and Reality Gravity

Ever since I posted my original rant about the over lawyering and overcharging by certain attorneys in the startup ecosystem, I’ve become synonymous with legal fees apparently. It isn’t all bad.  Our companies are being charged less, lawyers seem a little more likely to negotiate higher bills when the realize I’ll blog about them if…

Law Firm 2.0 – Re-architecting the Law Firm –Compensation

It’s been a while, but continuing on my Law Firm 2.0 series and having discussed ways to more efficiently bill, keep associate retention issues better at bay and how to better deal with legacy cost structures, today’s topic is compensation. I’ve gotten a ton of comments on my blog and on various other online forums…

Y Combinator Model Seed Financing Documents

Given my discussions on Law Firm 2.0 and how to make legal services more efficient, I was happy to see someone take a stab at some model financing documents for seed deals.  I’ve had several people ask me what I think of the Y Combinator documents.  In general, I like them.  I think they are…

Should We Scrap The "Cravath" Style Of Law Firm Hiring?

I just read a great paper called "Are We Selling Results Or Resumes?" by Professor William Henderson.  In a nutshell, the paper argues that law firms place too high a premium on hiring junior attorneys from top schools and this in turn causes costs for clients that cannot be maintained (the "Cravath" model).  In fact,…

Law Firm 2.0 – Re-architecting the Law Firm – Cost Structures

If you’ve been following along my series on Law Firm 2.0, you’ve probably noticed that I advocate decreased billings to clients, more efficiencies in some types of transactions as well as finally addressing the associate retention issue. One reaction could be that I advocate a transfer of wealth from law firm partners to their associates…