Finance Questions Lawyers Should Be Asking, But Aren’t
Editor’s Note: This is the second in a three part series of articles. The first part of the article is available here. For part 3, check in next week.
By: Charles Agee, Westfleet Advisors
What solutions best fit the firm’s needs?
Even if a law firm’s management is aware of all the solutions that currently exist, how do they know what combination of solutions is right for their firm? Unfortunately, a significant deficit of financial expertise exists within the legal community to address this question adequately. Law firms, especially larger firms, may have staffing and resources with the financial sophistication to address the question, if only the question were limited to financial analysis. However, in order to analyze the requirements of a contingent fee caseload, a combination of financial and litigation expertise is desirable and often lacking in the finance area of law firms.
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