Analysis on the Changes in the Operation of Law Firms

Xiying Hu ()
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Xiying Hu: Canada Queens School

A chapter in Proceedings of the 2022 3rd International Conference on Big Data Economy and Information Management (BDEIM 2022), 2023, pp 239-244 from Springer

Abstract: Abstract Considering the current development of China’s law firm industry, some enterprises are not satisfied with the original traditional operation mode and intend to improve profits through changes and innovation. This paper analyzes the difference between the two management modes (Lock Step and Eat What You Kill) and identifies their benefits and drawbacks to the average earnings and career prospects of lawyers and law offices. Based on the experimentation done by the senior partner Chu Wang from ZhenHan law office which belongs to the first group of law firms that try to run the “complete company model”, the author compares the annual income and the overall operational efficiency of the two most typical law firms which run exactly different inoperative systems. Also, the rising rate before and after a law firm changes its business strategies will be another important piece of evidence to prove the theory. The data used in this paper is mainly collected from ZhenHan law office and JunHe law office. Through data analysis, it is found that the “Lock Step” management mode is more beneficial to holistic and long-term development, while the traditional “Eat What You Kill” management mode is easier and clearer for lawyers to see their personal income, and is more beneficial to experienced lawyers who own a huge amount of cases.

Keywords: Renovation of company system; Law office; Partnership-based company (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-124-1_29

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DOI: 10.2991/978-94-6463-124-1_29

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