What are options for lawyers when courts aren’t open for trial?

CosmoLex Team

When courts are closed and trials are postponed or held, moving client matters forward can be a challenge. Coming up with alternative options, if your client is open to them, can be a way to still provide a resolution by avoiding formal court proceedings. Depending on the type of law you practice, there are a few options available. Alternative Dispute … Read More

What are case management best practices for law firms?

CosmoLex Team

Case management can quickly become complex, keeping track of deadlines, matter documents and tasks. With the proper tactics and tools, it can become a way to keep case costs under control, make sure clients are satisfied and that every responsibility is completed. To stay on top of their cases, firms should use the following best practices to make sure that … Read More

The Five Pillars of Modern Legal Practice Management

CosmoLex Team

Not many lawyers have had extensive business management courses or training, and that’s a really unfortunate fact for those looking to run their own practice or become a managing partner of a small law firm. For lawyers who decide to hang their shingle and run their own firm, practice management is an extremely important, if not often overlooked, aspect of … Read More

How do I use automation in my law firm?

CosmoLex Team

Automation is a way of taking repetitive processes and using technology to complete them. Law firms are full of processes and in almost all of them, some form of automation can be applied. Benefits of automation for law firms include[1]: More time to handle billable tasks Ability to get paid faster Increased profits Reducing error Streamlining case management There are … Read More

How can I make sure my law firm gets paid?

CosmoLex Team

For a law firm to be profitable, it needs to be able to collect payments for work completed. Timely billing and accounting Law firms should ensure invoices are sent to clients on a regular basis, setting expectations and ensuring bills are received near when the work is completed. Descriptive line items should also be used to convey value and make … Read More

What charges should and should not be passed on to clients?

CosmoLex Team

In order to strike a balance between maximizing profits and keeping clients from feeling overcharged, firms must decide what charges are passed along to clients. Transaction fees  Whether or not attorneys are allowed to pass on credit card transactions fees varies by state[1] For example, Mississippi and Florida prohibit lawyers from charging a convenience fee or passing on the credit … Read More

What KPIs should my law firm be measuring?

CosmoLex Team

Key Performance Indicators (KPIs) provide valuable data law firms can use to make strategic business decisions, evaluate trends and determine opportunities for growth[1]. There are many metrics law firms can track, but the following are the most critical. FINANCIAL & OPERATIONAL These KPIs can give you insight into the firm’s financial health:   Revenue billed by matter Fixed/contingency fee profitability … Read More

What are the most common ethics violations for lawyers?

CosmoLex Team

Ethics violations can result in sanctions and even being disbarred for lawyers, so it’s important to be aware of the most common ways lawyers wind up in trouble with their bar association. Conflicts of Interest Lawyers should run conflict checks for not just their current clients[1], but also look to check: Concurrent representation of clients with adverse interests Successive representation … Read More

How can my law firm provide extra client value?

CosmoLex Team

Running a successful law firm requires satisfied clients. To offer an even more impactful and positive customer experience, consider implementing a few “value added” factors that go beyond the practice of the law. Although some ways to add value do have costs associated with them, firms don’t always need to spend funds or valuable time to give clients that little … Read More