Dear Editor,
The article Managing the business of law in your September issue boldly ventures into territory that many legal practitioners are usually reluctant to devote enough time to, but that is nevertheless critical to the future of their businesses. Within this single article, you have covered marketing, delegation, processes, business development, branding, employee compensation, billing structures, mergers, market expansion, and consultants that target law firms.
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As the managing partner of an IP firm, the article struck a chord with me on multiple levels. Before establishing Meta Yage IP Strategy Consulting, I worked with a US patent law firm, and previous to that, with a legal process outsourcing company. The cultures within a law firm and an outsourcing company are drastically different and we tried to bring in the best aspects of each to our firm while leaving out the less desirable aspects. Outsourcing companies are strong in business development, employee compensation structures, billing structures, and processes.
A key challenge for managing partners of law firms, as rightly pointed out by you, is growth and scalability. When an organization is too dependent on individuals, it is less scalable. Outsourcing companies tend to be more dependent on systems, processes and practices than on individuals. Perhaps that is the key to growth. There is a need for people at the partner level who are good leaders, marketers and managers, to train and delegate key functions to others and build the kind of culture that can convert a law firm from just being good, to one that is great.
Arjun Bala
Managing Partner
Meta Yage IP Strategy Consulting
Bangalore
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