A blog about making your business leaner, faster and smarter

6 Things Solo Practitioners Should Know About Legal Malpractice Insurance

For any attorney starting a solo practice – or indeed any individual setting out to start a business – there can be a steep learning curve. Every a highly trained and experienced attorney may not have the knowledge or resources to immediately start running a business, which can including many different moving parts. One piece of the solo practice puzzle that is often overlooked is malpractice insurance. In fact, many solo practices operate without any malpractice insurance at all. Considering the fact that five to six percent of all attorneys will face a malpractice claim this year, the cost of which usually outweighs the cost of insurance, this may not be the best choice for a solo practitioner. If you are considering striking out on your own, or if you have been too intimidated by the malpractice insurance marketplace, there is no reason to put this decision off any longer. …

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UpCounsel in Business Insider – “This [Legal] Startup Thinks It Can Help Save The Legal Profession”

  Kyle Russell, in a recent article in Business Insider, profiles UpCounsel and described how the legal startup is on a mission to help a flailing legal industry. Read the full article here.

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The Must Know Arbitration and Class Action Breakdown Of 2014 For General Counsel

The New Year is off to a quick start, but it is not too late to consider the lessons we can learn from the legal proceedings of 2013. Staying apprised in the court decisions that will shape the legal landscape going forward is the job of any good attorney. Those that work as general counsel would do well to keep up on employment law in particular. Some of the biggest employment law decisions in the past year came in regards to the class action waivers that have been increasingly “built in” to employee arbitration clauses. Says Peter Zinober, co-chair of the global labor and employment and global human capital solutions practices at Greenberg Traurig, “What a number of employers have done over the last 20 years is that they have included mandatory arbitration language either in employee handbooks, sometimes in employee applications, sometimes in employment contracts, and the language includes …

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The CxO Guide to Tracking Down Legal Billing Mistakes

As corporate belt-tightening continues across the nation, legal billing has finally come under the microscope for greater scrutiny. The emphasis on controlling fees and iterative costs has created an entire industry of audit firms designed to analyze legal billing to find discrepancies and root out unethical billing practices and mistakes while pointing to potential cost savings. CxOs that do not engage an independent legal billing audit review service provider usually have some level of in-house quality control to routinely examine legal invoices and flag items for review. To help those legal bill reviewers and business owners, we put together the following list of the top legal billing mistakes to help. This list accounts for approximately 90% of all complaints by clients of legal firms and their legal billing audit teams. 1. Padded Time Company executive officers have long been suspicious of general counsel – both in-house and outsourced – padding …

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The Business Owner’s Guide to Efficiency Experts

Popularized by a 1948 biographical novel written by Frank Bunker Gilbreth and Ernestine Gilbreth Carey called Cheaper by the Dozen, the concept of efficiency expertise is and remains an elusive desire for many business owners. Many business owners hire efficiency experts to make recommendations on what leaders and their employees can do to streamline business operations and increase productivity. First and foremost, efficiency experts are skilled at doing more with their existing resources. As such, the following are the most common recommendations made by business efficiency experts to their clients who are looking for advice. 1. Put an End to Meetings With technology, the need for meetings has essentially evaporated but many businesses still rely on them – to their detriment. Traditional meetings do not allow the thinkers to have an equal chance to respond. Workers need time to read, think, and digest information before being able to respond effectively …

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The CXO Guide To Being The Master Of Your Legal Budget [EBOOK]

As a CXO or General Counsel, there are undoubtedly many, many things on your plate. But perhaps none causes quite the stir as does your legal budget. Employing big law firms who employ the most expensive attorneys can see that number spiral upward and out of control extremely fast. But you can control it. And you should. In this eBook, we will explore the best methods for moving away from the traditional “big law” structure and finding the right niche lawyers that work well for your company and for your budget. Although the idea of solo lawyers may call to mind Perry Mason, the truth is that solo attorney networks are the future of law as bigger law firms collapse under their own weight and lack of flexibility. But it is not too late for you to learn the ways of the future. Free eBook – The CXO Guide To Being The Master Of Your Legal Budget The Secrets …

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Obamacare 101: What Your Business Needs To Know [INFOGRAPHIC]

As of January 1st, 2014, every company needs to make sure they are in compliance with the Obamacare (or Affordable Care Act) laws and regulations. As a business owner, you might be wondering how these laws and regulations will affect your business this year. In the following infographic, we’re outlining some basics about the Affordable Care Act, highlighting a few recent news stories that will help bring you up to speed on what’s been going on in relation to the Act, and shedding light on how it will impact business. To embed this infographic on your blog or website, copy the code below: Click image to see a larger versionObamacare 101: What Your Small Business Needs To Know Infographic via UpCounsel

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Health Insurance for Solo Attorneys Through the Affordable Care Act

Now is a great time to make the leap from a law firm job to a solo practice. While there are certainly many factors to consider, from job security to flexible hours and home office investments, there is one worry that has been considerably lessened in the last year: the ability to get health insurance for solo attorneys. Historically, health insurance has been a major contributing factor that has kept attorneys from pursuing solo practice. This is because individual or family insurance plans that are not paid for by an employer can be prohibitively expensive. This is true of individual plans as well as COBRA coverage, which can run into the thousands as a per month premium. Furthermore, many attorneys may have preexisting health conditions or expensive prescription medications that would not be covered by a new insurance plan. Not to mention the cost of insuring spouses and children as …

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4 Ways to Save Thousands on HR and Recruiting

During the early years of the most recent recession, according to the Department of Labor, the number of unemployed persons per job opening was 1.8 in December 2007; by June 2009, there were 6.2 unemployed persons per job opening but that ratio has trended downward since and was 2.9 in October, 2013. Even more significant than the raw numbers is the translations released by the Bureau of Labor Statistics that indicates some 90 million Americans who are not working or seeking work due to taking themselves out of the job market. These include older people, younger people, and those without strong training or education who have simply given up. Recruiting in a tough labor market is never easy, but smart-thinking entrepreneurs know how to think creatively to solve tough problems. Control Hiring Costs Young, fast-growing companies cannot as easily afford the $15,000 or higher hit they take each time they …

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5 Things General Counsel Should Learn For 2014

While it certainly behooves every attorney to stay up-to-date on legal news, perhaps none is better served than a General Counsel. As 2014 revs up to full speed, now is a good time to take stock of advancements in the legal field and to consider the best ways for your company to move forward efficiently. Presented here are five particularly relevant tidbits that should stay top of mind in the New Year. Privacy Prevails As companies continue to collect and store all manner of customer data, privacy has become a focal point for both consumers and executives. In fact,

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