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How Much Does It Cost to Start a Law Firm? A Detailed Breakdown

Rocket Matter

The post How Much Does It Cost to Start a Law Firm? Learn how big tech has changed the legal industry Free Guide The Small Firms Guide to Big Tech While any change in how you operate your law office can feel overwhelming, theres never been a better time to start migrating your office structures online.

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Friday Wrap: Four Notable Legal Tech Deals as Athennian Raises $33M, Nexl Acquires Jade, Proof Raises $7M, and Justpoint Raises $6.9M

LawSites

Then last year, it raised an additional $7M CAD in Series A extension funding, with the notable addition of Jack Newton , the cofounder and CEO of law practice management company Clio, as an investor. . Read about Nexl in the LawNext Legal Tech Directory. ” Nexl Acquires Jade. Fishman founded Jade in Atlanta in 2020.

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What Are Billable Hours? A Guide for Lawyers

Rocket Matter

Why the billable hour matters Reports state that many attorneys bill between 1,700 and 2,300 hours per year , so not tracking all your time accurately can lead to tens of thousands in lost revenue. Second, law firms track the billable hours of each attorney. What is a billable hour (and what isn’t)? A billable hour is client time.

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Maximize Your Billable Hours with These 10 Time Tracking Tips

Rocket Matter

Time is always in short supply for law firms, especially for firms with limited resources. This means the ability to prioritize tasks and increase efficiency are the name of the game. The good news is that if you’re looking to operate a lean law firm , there are a multitude of ways to maximize billable hours and get more out of your day.

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Legal AI Tools

Lawmatics

Legal software utilizing artificial intelligence (AI) helps law firms automate routine tasks like billing and document management, allowing lawyers and staff to focus on strategic tasks (or other areas that require their skills and expertise) and less on repetitive administrative tasks. How is AI Being Used in the Legal Field?

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Do Lawyers Use CRM?

Lawmatics

More and more lawyers are using customer relationship management — or small law firm CRM — software to help them keep track of their clients, and no–we're not talking about the old Rolodex systems of yore. With today's streamlined CRM systems, it has never been easier for lawyers to manage client data efficiently.

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Not the Witching Hour, the Billable Hour: Unraveling the Mysteries of Law Firm Billing

Rocket Matter

Billable hours are the basis of most legal fee calculations, and putting in enough billable hours is essential to the profitability of law firms—that’s why they generally seek to maximize the number of billable hours that associates and partners put in. Some firms have a billable rate for key support staff, such as paralegals.