The LexFactor

Lexicon Brand Manager Lauren Hoffmann is the host of The LeXFactor Briefs, looking at what’s making news in the legal industry. In this episode, Lauren and co-host Brad Paubel, Lexicon’s chief information officer, address the latest crypto-currency craze as litigators are keeping a close eye on this subject. Buyers of nonfungible tokens are ready to pay hundreds of thousands of dollars, maybe even more, but when disputes develop, litigators said there will be little to no case law as precedent.

Nonfungible tokens (NFTs) are digital files on blockchain that show who owns a unique piece of digital content. The technology allows the minting of that digital content on the file. These products have become widely popular, catching litigators’ attention. Some lawyers are saying the popularity of NFTs has led to speculation whether this technology will bring a high return on investment.

The post Attorneys Eyeing NFT Litigation as New Revenue Source – The LeXFactor Briefs appeared first on Lexicon.

In this episode of The LeXFactor, a lawfully good podcast, our podcast studio is once again populated with special guests. Special guest hosts Randy Schorfheide (Lexicon Sr. Manager of PR & Communications) and Scott Brennan (Lexicon CEO) welcome Karen Renee, President, and Judy Gerulat, Vice President, from eCourt Reporters to talk about “adapting and transforming your legal practice” which is so important today as we look for ways to reinvent the way we work, in order to focus on what is important such as growing our business and taking care of our clients.

We all know that 2021 is the year of change and it is time for reflection on how to do things better and differently. A recent survey from a prominent law firm consulting agency found that 62% of firms expect to make significant changes to workplace strategy. Ultimately, 57% of respondents anticipate that the post-COVID-19 workplace model will most significantly impact costs. Moving forward, how we provide support is key in driving efficiencies, increasing productivity, and allowing attorneys and law firms to focus on practicing law.

The post Change is Inevitable: Adapting and Transforming Your Legal Practice – The LeXFactor appeared first on Lexicon.

Lexicon Brand Manager Lauren Hoffmann is the host of The LeXFactor Briefs, looking at what’s making news in the legal industry. In this episode, Lauren and co-host Brad Paubel, Lexicon’s chief information officer, talk about how the pandemic threw a wrench into attorney schedules and when hours are billed. Now, firms are looking for ways to prevent burnout and attrition.

The pandemic has ushered in an era in which attorneys, for one reason or the other, are working erratic hours as lines between home and work have evaporated and an unprecedented boom in work pushes firm attorneys to their limits. Law firms in turn are trying everything: job sharing, extra vacation and huge bonuses to accommodate as burnout and retention issues loom.

The post Legal “Eagles” are Working Longer and More Erratic Hours – The LeXFactor Briefs appeared first on Lexicon.

Lexicon Brand Manager Lauren Hoffmann is the host of The LeXFactor Briefs, looking at what’s making news in the legal industry. In this episode, Lauren welcomes back special guest host Randy Schorfheide, Lexicon’s Sr. Manager of PR & Communications, as they discuss the daunting challenge of law firms having to recruit and onboard top legal talent 100% of the time. Assessing candidates and establishing relationships with new attorneys can be totally different than maintaining engagement with older colleagues.

As with other pandemic-related challenges, firms and other legal employers continue to rise to the occasion. Even for some time previously, most legal employers did not start from scratch – video conferencing was already being used for interviews and training programs long before the onset of the pandemic. However, those processes typically included some kind of in-person component, such as a group dinner or in-person visit to the office. Now, everything is virtual.

The post Young Attorneys on Remote Recruiting and Onboarding – The LeXFactor Briefs appeared first on Lexicon.

In this episode of The LeXFactor, a lawfully good podcast, our podcast studio is populated with special guests all around the discussion table. Special guest hosts Randy Schorfheide (Lexicon Sr. Manager of PR & Communications) and Scott Brennan (Lexicon CEO) welcome Bob Tomaso, Managing Partner in Husch Blackwell’s St. Louis, MO office and the current President of the Bar Association of Metro St. Louis (BAMSL), along with Susan Baltz, the Executive Director of the Bar Association of Metro St. Louis (BAMSL).

Clients are the life blood of any law firm, but client relationship management is one of the areas most frequently overlooked because the direct effect on revenue isn’t as obvious.  But 46% of consumers ask friends and family for referrals and happier clients result in referrals and repeat business. Listen to Scott, Bob and Susan highlight what it takes to end up with and retain happy clients.

The post Growing Your Firm With a Client Centric Approach – The LeXFactor appeared first on Lexicon.

In this episode of The LeXFactor, a lawfully good podcast, Lexicon’s Brand Manager Lauren Hoffman and CIO Brad Paubel welcome back Francisco “Frank” Ramos, Jr., Partner, Clark Silverglate, talking about law firm leadership before, during, and as we begin to come out of the pandemic.

There are a number of topics to address and questions to answer – and Frank does just that in detailing how law firms can navigate the changing waters of law firm leadership and practice management. From the partner level on down to the associates, Frank talks about how to take care of your team members while also focusing on and maintaining firm culture. You’ll also hear Lauren and Brad ask Frank how law firms can detect issues with your team due to isolation or stress and how best to address them; and just as important, how technology can help us lead.

The post LOL (Law Office Leadership) – The LeXFactor appeared first on Lexicon.

Lexicon Brand Manager Lauren Hoffmann is the host of The LeXFactor Briefs, looking at what’s making news in the legal industry. In this episode, Lauren and co-host Brad Paubel, Lexicon’s chief information officer, look at the emerging trend of law firms are now looking – basically wanting and needing – for tech-savvy lawyers who understand and implement technologies as they evolve. Any current or future lawyer interested in private practice needs to think about how they’re going to prepare to address their firm’s technology infrastructure.

The COVID-19 pandemic accelerated almost every industry’s digital transformation. Law firms tend to be conservative, and old-school businesses. Now, law firms are looking for tech-savvy lawyers who understand and implement technologies as they evolve.

The post Get With the Times: Law Firms Want Tech-Savvy Attorneys – The LeXFactor Briefs appeared first on Lexicon.

In this episode of The LeXFactor, a lawfully good podcast, Lexicon’s Brand Manager Lauren Hoffman and CIO Brad Paubel welcome back Tom Boster, Lexicon CFO & COO (Brad’s and Lauren’s boss) for a return visit to discuss Recognizing efficiencies & Driving revenue.

The legal industry is a demanding one, meeting client needs, handling sensitive materials, managing cybersecurity, tracking time, driving growth – all while trying to maximize billable hours. The legal industry is slow to adapt, let alone adapt a comprehensive strategy. How do firms stay competitive and drive efficiencies?

Learn more about Tom Boster and Lexicon’s holistic suite of practice management technology and services that liberate law firms to do more of what they do best – practice law.

The post Law Firm R&D (No, We’re Not Talking About Research and Development) – The LeXFactor appeared first on Lexicon.

In this episode of The LeXFactor, a lawfully good podcast, Lexicon Brand Manager Lauren Hoffman and CIO Brad Paubel are joined by Roy Sexton, Director of Marketing, Clark Hill, in discussing now that the world we live in is fully digital – what does that mean for using content marketing to drive a brand message when things like sponsorships and in person events are no longer available?

Download this episode now to also hear discussions related to questions such as: Is social media finally accepted fully by all?; Social media used to be seen as this “other” channel, delegitimized by its newness and its risk, so isn’t it an essential part of any brand conversation?

Learn more about Lexicon’s holistic suite of practice management technology and services, which includes marketing services for law firms of any size, that liberate law firms to do more of what they do best – practice law.

The post Being “Anti-Social?” Law Firms Need To Be More Outgoing and Consider Social Media – The LeXFactor appeared first on Lexicon.

Lexicon Brand Manager Lauren Hoffmann hosts another edition of The LeXFactor Briefs, looking at what’s making news in the legal industry. In this episode, Lauren and co-host Brad Paubel, Lexicon’s chief information officer, revisit a hot topic that seems to pop up almost weekly – cyber security. Tune-in and hear Lauren and Brad discuss what practical tips law firms can follow to successfully manage a cyber security crisis.

Even though each incident is unique, understanding the unprecedented challenges faced by firms, including the need to defend against increasingly sophisticated and aggressive cybersecurity threats, minimizing risks and maximizing opportunities for a favorable outcome is beneficial for various stakeholders – while still complying with applicable law.

The post $&IT Happens: How Law Firms Can Manage A Cyber Security Crisis – The LeXFactor Briefs appeared first on Lexicon.