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NLJ this week: Modernise the pricing, partnership & long-hours model

12 January 2024
Issue: 8054 / Categories: Legal News , Profession
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Nigel Clark, director and shareholder at Nexa, a platform for consultant solicitors, proposes a change of approach on client fees, billing targets, the partnership model and long-hours culture, in this week’s NLJ

Could lawyers switch to a system where they’re paid by results or value-added—for example, ‘a corporate lawyer advising on the purchase of a business could be paid a percentage of the reduction in the price they are able to negotiate’? Clark warns that the lack of transparency in pricing can seem unfair.

Clark also considers how to respond to the gender pay gap and questions the value of the hierarchical partnership model—‘there is still a whiff of the Victorian mill owner around junior lawyers doing the work while partners share the profits.’ 

Issue: 8054 / Categories: Legal News , Profession
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MOVERS & SHAKERS

Mourant—Stephen Alexander

Mourant—Stephen Alexander

Jersey litigation lead appointed to global STEP Council

mfg Solicitors—nine trainees

mfg Solicitors—nine trainees

Firm invests in future talent with new training cohort

360 Law Group—Anthony Gahan

360 Law Group—Anthony Gahan

Investment banking veteran appointed as chairman to drive global growth

NEWS
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
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