Want to get this daily news briefing by email? Here’s the sign-up.


CAPITAL BUILDING – It’s fairly obvious that when the Wu-Tang Clan’s Method Man rapped that “cash rules everything around me,” he was advocating for a more financially sound approach to managing a large law firm. As Dan Packel reports, the traditional operating model, in which a firm divvies up all its profits among the partnership at the end of each fiscal year and starts fresh, can be a dangerous one when the economy takes a tumble. As a result, an increasing number of firms appear to be taking less risky approaches, including setting aside a portion of profits in order to ensure there is cash on hand in case of a crisis or simply to invest in the organization’s future without taking on debt.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]