The Risk of Idolizing False Profits (CE Credit)

In days past, providing quality legal services was not only the best marketing tactic — it was a can’t-miss opportunity to earn a handsome living. By contrast, the delivery of legal services today requires an astute understanding of finance and economics, pricing acumen, a marketing and business development mindset, and a deep understanding of market needs. In this CE course, we’ll link these concepts together as we discuss how modern law firm leaders are adapting to the changing times to build strong, successful, client-focused businesses.

Read the article in Legal Management magazine here. Then, purchase access to the quiz: members pay $49; nonmembers pay $69.

Learning Objectives

1. Describe the most critical aspect of a partner compensation plan.
2. Examine new ways to measure profit and calculate profitability.
3. Recognize assumptions embedded in the analysis of timekeeper and matter profitability.
4. Analyze how to be strategic when pricing legal services.
5. Identify the aspects of a multistage approach to incorporating and adopting profit.

Members and nonmembers can read the article in Legal Management magazine, then log in to take a test. If you pass with at least 70 percent, you will earn one CE credit hour. 

1 Hour
CLM® Recertification Credit: Financial Management for Recertification and toward the hours needed by Functional Specialists applying for the exam
CPE credit (self-study, paper based): Accounting