The pricing of legal services is no longer simply about setting rates. Properly optimizing a firm's pricing strategy is a critical source of competitive advantage and increased profitability, which now more than ever is crucial to staying relevant in the legal sector. Firms must start looking to demonstrate their ability to provide clients with greater value through alternative fee arrangements, effectively controlled budgeting methods, and the integration of innovative firm management practices - whilst continuing to operate as a profitable business. Standard business principles have become the norm for firms - as clients become increasingly proficient in negotiating costs and defining the scope of engagement, service delivery must now be framed by value, expertise, and profitability rather than hours billed alone. With contributions from pricing directors and expert consultants, Practical Innovations in Legal Pricing offers insight into newest effective approaches to pricing that top firms are undertaking. Taking an in-depth look at the role of shadow-billing and client collaboration in AFAs, integrating a firm's legal project management and pricing functions for greater client benefits, and effectively executing a newly formed pricing strategy, this title will provide a comprehensive overview of the best practices in innovative pricing functions.

Could you benefit from expert guidance on how to stay competitive and streamlined in a legal marketplace that is increasingly competitive? Law firms are finding it harder to adapt quickly to a legal landscape that is constantly evolving. That's why it's imperative for law firm leaders to recognise and respond to this change in order to stay competitive. While the economy has improved, key challenges from the recession remain. Clients are more demanding, reducing cost is as important as it ever was, and firms realise that operational efficiency is crucial to gaining small but important margins. In this market, those small margins can be game-changers for large and small firm alike. This new and updated edition of The Lawyer's Guide to Strategic Practice Management equips law firm leaders with the very latest guidance and market knowledge on how to improve and refine current management strategies in order to thrive and compete in today's legal marketplace. From the latest developments in technology and AI, how to improve your firm's coverage on LinkedIn to increasing motivation to act on cross-selling opportunities, this guide is an amalgamation of guidance from the most talked-about thought leaders in the legal sphere. The second edition contains 7 new chapters covering strategy; market and client development; people and talent management; finance and pricing and optimisation and technology. Key features of this updated guide 33 chapters covering six key areas of law firm management Contains valuable material such as diagnostic questionnaires, how-to guides, case studies and action-planning worksheets Hear from a range of thought leaders and experts in the law firm management sphere including: Viv Williams (CEO of 360 Legal Group) Patrick J. McKenna (strategist and advisor to premier law firms) Chrissie Lightfoot (CEO of EntrepreneurLawyer Ltd) Geoff Coughlin (co-founder of Emphasis on Skills Ltd) Order your copy of this guide to: Review revenue and profit models, profitability strategies and law firm profit drivers Examine the various alternatives to the traditional billing hour Measure and manage the performance of your lawyers Find market niches and develop individual business development strategies Learn about the adoption of client listening programmes Use big data for billing and cost and forecasting analysis Build the business case for legal project management Improve client and staff communication, connectivity and collaboration strategies Inform your management strategy with the very latest market insights and find solutions to your management challenge. Order your copy of this updated guide.

This companion volume to the negotiation classic Getting to Yes explores the negotiation process in depth and presents case studies, charts, and worksheets for blueprinting and personalized negotiating strategy.