October 23, 2012

Law Practice Magazine :: Frontlines

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 Table of Contents | Features | Frontlines | Technology | Business

July/August 2010 Issue | Volume 36 Number 4 | Page 13

LPM Books Spotlight

 Compensation Plans for Law Firms, 5th Edition by James D. Cotterman.

In this newly revised edition, you’ll find complete and systematic guidance on how to establish a fair and competitive compensation plan for your firm. Examining the continually evolving compensation landscape and the concepts that will affect your firm most, the book includes workable plans for compensating partners and associates, as well as other contributors to the firm, including paralegals, clerical staff and other professionals. This resource features valuable data from the leading legal consulting firm Altman Weil’s annual and triennial surveys on law firm performance and compensation, retirement and withdrawal compensation systems. It gives you detailed analyses of compensation plans for everyone in your firm, with charts and graphs to help you see where your firm stands on salaries and bonuses.

 Introduction to Law Firm Practice by Michael Downey.

Written in an easy-to-read format, this manual provides an in-depth examination of how law firms operate, how they are managed, and how they develop clients and generate revenue. This book seeks to empower better decision making, thus helping newer entrants find greater satisfaction and happiness in a law firm environment. Topics covered include the organizational structure and promotional tracks for firms; how firms develop business and generate revenue; lawyer compensation and the review process; intake of client matters, including engagement letters, retainers and conflicts checking; profitability issues; and firm culture. Included are valuable, workable exercises to help lawyers understand the complexities of the law firm environment. Whether you’re a law student or a young lawyer who wants a better understanding of how firms operate, this guide will provide the information you need to understand and excel in the profession.