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PEER TO PEER: THE QUARTERLY MAGAZINE OF ILTA | FALL 2016
Not too long ago, lawyers set rates, clients paid invoices and the world kept
turning. Not so in today's market. These days, lawyers — whether working in
corporate legal departments, law firms or hanging out a shingle for themselves
— must understand budgeting, cost control, using metrics to determine success
and the rising tide of client demands. They must understand the business of law.
We asked a lawyer from a law firm and leaders from corporate legal departments
to give us their perspectives on some of the most important business of law
issues facing them and their peers. Alison A. Grounds, a law firm partner, writes
about the many options available for legal services and when making the change
to bring those services in-house or to go engage outside providers makes good
business sense. Mike Russell and Jack Thompson take us through the transition
of the corporate legal department from a cost center within the corporation
to a business unit and how establishing legal operations functions helps legal
maintain its business focus. In both, we see how good business acumen is driving
trends and changing the legal workplace.
EVOLVING
OF LAW
THE
