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Rasel Sordar
Jun 09, 2022
In Medical Forum
Assuming the proper initial inquires have been made and adequately Latest Mailing Database addressed, what are the cost savings reasonably attainable by an outsourcing U.S. law firm and its clients? Answering that question necessarily involves Latest Mailing Database a comparative analysis of revenue and expenses. Suppose a large U.S. law firm wishes to consider outsourcing work that might otherwise be performed by one U.S. associate working exclusively for one of the Latest Mailing Database law firm's corporate Latest Mailing Database clients. The junior associate bills 2000 hours annually at the lawyer's hourly billable rate of, for a total annual cost to the corporate Latest Mailing Database client (and income to the law firm) of. The law firm's expenses chargeable against the income produce Latest Mailing Database by its associate include the lawyer's base salary Latest Mailing Database () and bonus (say) plus the associate's share of overhead expenses for occupancy, support staff, benefits, marketing, recruitment, technology and other expenses. In its 2006 survey, Altman Weil, the well-regarded legal Latest Mailing Database consulting firm, estimated average annual law firm expense per lawyer. (Doubtless those expenses have increased since 2006, but, for the purposes of conservatism, we will use Altman's 2006 number in our example.) Latest Mailing Database Altman's breakdown included promotion reference equipment occupancy , staff, paralegal and "other. In the Altman survey, "other" includes malpractice insurance premiums and settlements, payments to former partners, recruiting costs, and other expenses not shown separately. Adding the associate's share of expenses to the associate's total earningsit is apparent that it costs the law firm a total of to produce in associate income. Let's call it a law firm profit attributable to the associate's efforts.
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Rasel Sordar

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