Hi everyone
We're going to move the 'trainee advice' page to this section so that the posts are easier to sort through. I'll be updating each one as I add them in so they're worth a look even if you've checked out the page before. The plan is that we'll also add more answers over time.
For...
Great post Coralin!
Good article in the FT yesterday explaining why oil prices are rising: https://www.ft.com/content/112d1342-488f-11e8-8ee8-cae73aab7ccb
Ok here's a brief introduction to the GDPR. Part 2 will focus on how it will impact law firms and their clients.
The impact of the GDPR on businesses and law firms - Part 1
What is it?
The General Data Protection Regulation or "GDPR" is an EU-wide regulation which regulates the processing of...
How do law firms make money? How do they charge clients?
Law firms make money by charging clients for the legal services they provide. They make a profit by generating more fee income than their overhead expenses and salary costs. Overheads include a bunch of things, such as supplies and...
Hi Mary,
Our screening company was a risk consultancy. I remember they sent us a form to fill out but I think that was just to verify what we had said in our screening forms. We also sent them ID docs and details of our residency history for background/DBS checks. I remember in the email they...
Hey,
I'll answer these questions over the next few days. Starting with the first -
How are law firms structured?
Most large commercial law firms operate as a limited liability partnership or "LLP". An LLP, like a company, has a separate legal personality. It can enter into contracts, incur...
In terms of Slaughter and May specific advice, I believe @Sandrou had a TC assessment there. @Sandrou, if you can share some thoughts that would be much appreciated.
If you have any questions Jennifer about a particular part of the interview, let me know.
Some of you have shared some very interesting articles and I thought we'd collate them (and future ones) here.
To kick us off, The American Lawyer just released its US law firm rankings for 2018. Here is the chart for revenue...
Hey all,
Please find attached the second case study, you'll note that it's a fair bit chunkier than the last one.
This case study mirrors the style of a real written exercise I had during an assessment centre. It's testing, among others, your ability to analyse large quantities of information...
Hey all,
This is the first in a series of mock case studies, please see attached.
The case studies are here to help you prepare for the written exercise at assessment centres. This one focuses on your ability to analyse complex information and form a solution.
To simulate a real written...
Thanks for clarifying, I think I understand, I assume you mean a competitive advantage when it comes to securing work from clients, but let me know if you meant otherwise. A few things to think about:
First off, if you're a law firm operating in an uncertain environment, you need to be...
Hey Selma - I'm a little unsure what you mean by competitive advantage in this context. Are you asking what law firms can do for companies worried about a rise in interest rates?
Hey KS,
Interesting question. I can't say I'm an expert on this, but yes, I would imagine it does. Law firms store personal data so they can run conflict checks when new clients come in. Law firms, and more specifically the compliance staff, may need to review whether they get appropriate...
Hi everyone
I came across this helpful guide about how law firms operate as a business and thought I'd share. It covers things like:
how law firms are structured
how law firms charge clients and make money
how law firms use leverage and working capital
how law firms compete
the future of law...
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