Kent Zimmermann and Hugh Simons define a merger as one means for a firm to drive its strategy forward. In this article, they discuss what exactly a strategy is, how, in theory, a merger might move a firm forward, and in practice, what tends to happen in a merger.

Greentarget and Zeughauser Group’s latest State of Digital & Content Marketing Survey — our first in three years — revealed that clients of professional services firms see diversity, equity and inclusion (DEI) as a key business priority.

Zeughauser Group's 2021 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; The Global 200; The China 50; The Asia 50; and The Corporate Scorecard.

If you would like a hard copy of the 2021 ZGuide, please send an email to zgadmin@consultzg.com with "2021 ZGuide Request" in the subject line and provide your mailing address.

In this article, Alex Dimitreif discusses important billing principles and the need for detailed budgets. Law firms can no longer afford to view billing and budgeting as necessary evils or relegate them to backroom administrators. Outside counsel should seize upon the billing process as a vehicle for thoughtful discussions with clients about how assignments will be handled. Up-front exchanges about how much a matter will cost should facilitate dialogue on a client’s objectives and how best to achieve them. Interim bills should serve as informative status reports and alert clients to potential issues. Final bills should stimulate candid discussions about how the law firm performed and whether the client’s expectations were met.

By bringing in-person client interactions to a virtual halt, the COVID-19 pandemic has triggered a digital content explosion as law firms compete for the attention of clients and prospects. A new study of in-house counsel shows that providing substantive, actionable guidance remains the best way to rise above the noise, preserve existing client relationships, and win new ones.

These findings are detailed in the report, “How to Win and Protect Client Relationships in the Age of Remote Engagement,” released by strategic communications firm Greentarget, legal consultancy Zeughauser Group, and B2B branding agency Right Hat. The August 2020 survey of 75 in-house lawyers, including 37 general counsel, offers important guidance for law firms anticipating an extended period of remote outreach

Zeughauser Group's 2020 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; The Global 200; The China 45; The Asia 50; and The Corporate Scorecard.

You can download the ZGuide here.

If you would like a hard copy of the 2020 ZGuide, please send an email to zgadmin@consultzg.com with "2020 ZGuide Request" in the subject line and provide your mailing address.

Alex Dimitrief advises that the most important guiding principles for outside counsel during a crisis are to be helpful and to steer clear of anything that might be construed as insensitivity to a client’s distress.

Zeughauser Group's 2019 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; The Global 200; The China 45; and The Corporate Scorecard.

You can download the ZGuide here

If you would like a hard copy of the 2019 ZGuide, please send an email to zgadmin@consultzg.com with "2019 ZGuide Request" in the subject line and provide your mailing address.

Law firms won’t be as severely impacted by the next recession as they were by the financial crisis, says Alex Dimitrief, former GC at General Electric. But, he says, legal departments are more willing to forgo the “safety” of hiring name-brand law firms for the value of mid-tier and regional law firms. Being proactive and working with clients is key.

Many law firms are competing to attract and retain client relationships that are increasingly larger pieces of a shrinking overall pie of client spending on outside law firms. In addition, traditional client relationships face four growing competitive forces that are taking market share away from Am Law 200 law firms and creating impediments to transitioning client relationships. Kent Zimmermann outlines five drivers of successful client succession planning based on best practices of high-performing firms to combat these concerns.

Zeughauser Group's 2018 Pocket Guide to the American Lawyer Rankings of the Am Law 200 by Profits Per Equity Partner and by Value Per Lawyer; The A-List; The Global 100; and The Corporate Scorecard.

You can download the ZGuide here

If you would like a hard copy of the 2018 ZGuide, please send an email to zgadmin@consultzg.com with "2018 ZGuide Request" in the subject line and provide your mailing address.

A downloadable pocket guide to Am Law 200 firms with key statistics for 2016:

• number of lawyers and equity partners
• profits per equity partner (PPEP)
• gross revenue and rank by gross revenue (GR)
• revenue per lawyer and rank by revenue per lawyer (RPL)
• compensation average for all partners

Clients increasingly hire outside counsel on the basis of specialized expertise. Savvy law firms have stopped trying to position themselves as “full-service.” Instead, spotlight the real strengths that differentiate them from their competitors.

Over the last two decades, global law firms have evolved from collegial professional partnerships to organizations that adhere to the management practices of other large businesses, yet many of them continue to neglect the vital importance of effective branding, particularly in a weak economy. Mary K Young discusses the need for strong branding:

• What is a strong brand, and what are its benefits?
• How does a law firm develop a stronger brand at a reasonable cost?
• How does a law firm instill its brand in the marketplace?

She concludes that law firms that build strong brands attract the most prestigious clients to do their most important work. Consequently, they are among the most profitable law firms in the world.