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June 22, 2004
Adopting the Corporate Managerial Model
What are the odds this will be a trend? Manatt-Phelps (#131 on the AmLaw 200) just changed from a traditional law firm governance model to a corporate-type model, complete with a Board of Directors and a Chief Operating Officer. The directors serve staggered terms, and are term-limited, as is the managing partner.
Among the other goals this re-vamp is meant to serve:
- formalizing the new client/new matter intake process, to incorporate a review of all possible ramifications;
- formalizing enterprise risk management including, critically, reputational risk; and
- attempting to determine the ROI of marketing initiatives, which have tripled in the past several years from 1% of firm revenue to 3%.
Posted by Bruce at June 22, 2004 11:45 AM | TrackBack
Posted to Partnership Structures Printer-friendly version
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