When the second edition of Risk Management: Survival Tools for Law Firms was published in 2007, the legal landscape was very different. Since then developments like new technologies, the financial crisis, and the rise of non-lawyers as major providers of legal services have all transformed the legal world immeasurably. In this new environment, managing risk no longer means simply avoiding malpractice claims and staying ethical. It now requires lawyers and law firms to address an increasingly complex world of rules and regulations in order to keep firms both respected and profitable.
This all-new, updated third edition by Anthony E. Davis and Katie M. Lachter moves past recognizing risk and addresses the realities of managing risk. From managing employees to performing appropriate client intake due diligence, this book offers a practical approach to evaluating the state of risk management within your firm, and to implementing a program to control it. Topics include:
- Strategies for tailoring a risk management program to your firm’s specific needs
- How a good plan will improve your firm’s profitability
- When and why to refuse a client’s business
- How the rise of technology has affected risk for the modern law practice
- The need for an in-firm general counsel
- Self-assessment questionnaires for evaluating every aspect of law firm risk management