Digital White Papers

December 2013: Business and Financial Management

publication of the International Legal Technology Association

Issue link: http://epubs.iltanet.org/i/231030

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NEW DEVELOPMENTS IN NEW BUSINESS INTAKE New Developments in New Business Intake by Michael Lowe of HardingLowe LLC I feel for you, new business intake professional. Standing between partners and their potential revenue is like standing between a grizzly and her cubs. You cannot possibly assess and approve matters quickly enough, nor can you ask too few questions to do so. And yet your firm, your clients and the legal landscape are growing more complex, increasing the risks you are responsible for managing. The small firm you first joined is now a combination of merged firms with offices around the globe, many practice groups and lateral hires who do not share your firm's traditional risk profile. Competitive pressures are generating a larger range of alternative deal structures that must be approved and accommodated in downstream processes. It's time to assess whether your current NBI capability is appropriate for a modern law firm. Firms find that improving their NBI results in reduced risk, increased revenue and happier attorneys. And, at long last, technology has developed to the point where it can enable whatever operating model works best for your firm's strategy and culture.

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