Innovation and technology could be the key to not being left behind in an increasingly global legal advice market. Legal process outsourcing (LPO) is rapidly growing internationally. India is currently leading the game followed by the Philippines, with providers emerging in China and Sri Lanka. It is now a ... More about Legal process outsourcing.
The increasingly volatile legal market means that firms need to be more innovative. Due to fierce competition and wavering economies, a new model has been forged for the industry. Although still in its infancy in New Zealand, lawyers and clients now have the additional option of a hybrid business that ... More about Future developments in law firm operation.
Law firms chasing payment from reluctant clients may find it interesting that the average bill payment time for New Zealand businesses in the December 2011 quarter was 44.6 days. The latest Trade Payments Analysis Trade from Dun & Bradstreet shows that publicly-listed companies took nearly a week longer to pay their bills ... More about Average bill payment time, December 2011 quarter.
During 2011 the Management Research Centre (MRC) of the University of Waikato carried out its 15th biennial comparison of law firm performance. The Law Society provides assistance by publicising the comparison and encouraging firms to participate. The 2011 comparison obtained information from 87 practices. While participating firms’ individual results are confidential, the aggregate ... More about Trends in 2011 MRC law firm performance comparison.
Pro bono work should be done strategically or lawyers risk upholding a “broken system”. This is according to DLA Piper pro bono partner Nicolas Patrick. He is a vocal proponent of the need for the profession to maintain that pro bono is not a substitute for government funded legal aid ... More about Structured approach recommended for pro bono work.
The landscape is changing for Māori legal practice. The Treaty settlements claims process is winding down, with the final date for all claims being 2014. How will this change the lie of the land for iwi-focused lawyers? Will there need to be a change in skill focus for law graduates ... More about Maori legal practice landscape changing.
Barristers accounting for GST on the payments basis should carefully monitor and record fees received and expenses over the transition period to ensure GST is accounted for at the correct rate. Most will be registered on a payments basis for GST. As such they will be required to include certain ... More about GST and barristers from 1-10-10.