The Counselors InstituteThe Business of Law

The Journal

Notes on the business of law.

Short, practical essays on running a firm: fees and retainers, trust accounting, hiring, profitability, and the systems behind them.

Attorney Referral Fees: The Rules, the Writing, and the Share Fees & Billing

Attorney Referral Fees: The Rules, the Writing, and the Share

Fee division between lawyers is permitted, on conditions that differ by state. What your rule requires, what the client must be told, and what…

October 19, 2026
Law Firm Accounting: The Three Sets of Books and What Each One Is For Firm Finances

Law Firm Accounting: The Three Sets of Books and What Each One Is For

A law firm keeps three sets of books: the trust records your conduct rules itemise, the tax records the IRS requires, and the management…

October 12, 2026
Law Firm Partner Compensation: How Small Firms Split the Money Firm Finances

Law Firm Partner Compensation: How Small Firms Split the Money

How small law firms divide partner pay: equity versus income partners, the four compensation systems, origination credit, draws and K-1s, capital, and the conduct…

October 5, 2026
Contingency Fee Agreements: What the Writing Must Say and When the Case Is Worth Taking Fees & Billing

Contingency Fee Agreements: What the Writing Must Say and When the Case Is Worth Taking

What a contingency fee agreement must contain, whether the fee comes off before or after costs, the caps that override your percentage, and the…

September 28, 2026
Attorney Billing: How Law Firm Billing Works, From Time Entry to Payment Fees & Billing

Attorney Billing: How Law Firm Billing Works, From Time Entry to Payment

Attorney billing has four stages: record, review, render, collect. What the ethics rules permit, what a fee arbitrator looks for, and what a bill…

September 21, 2026
Lawyer Hourly Rates: What Small Firms Charge and How to Set Yours Fees & Billing

Lawyer Hourly Rates: What Small Firms Charge and How to Set Yours

Lawyer hourly rates averaged $341 in 2024, from $195 in West Virginia to $462 in DC. What that means for a small firm, and…

September 8, 2026
The Small Firm Technology Stack: What You Need and What You Don’t Operations

The Small Firm Technology Stack: What You Need and What You Don’t

What a small law firm actually needs: the six jobs a technology stack has to cover, what the conduct rules require of it, what…

August 24, 2026
Are Lawyers in Demand? What the Market Says About Legal Services Firm Finances

Are Lawyers in Demand? What the Market Says About Legal Services

BLS projects about 4 percent growth in lawyer employment through 2034. What that number measures, where demand is actually growing, and what it means…

August 17, 2026
How to Choose Law Practice Management Software (Without the Demos Choosing for You) Operations

How to Choose Law Practice Management Software (Without the Demos Choosing for You)

A neutral selection framework for solo and small firms: write requirements before demos, test the trust accounting module against your own rule, and price…

August 10, 2026
How Do Lawyers Get Clients? The Data on Referrals and Search Marketing

How Do Lawyers Get Clients? The Data on Referrals and Search

Referrals and search are the two engines behind small firm client acquisition. What the Clio and Thomson Reuters data actually show, and what the…

August 3, 2026
What Is an IOLTA Account? Interest, Rules, and Setup Trust Accounting

What Is an IOLTA Account? Interest, Rules, and Setup

What an IOLTA account is, why the interest funds legal aid, the test for deciding which client funds belong in one, and how to…

July 27, 2026
Law Firm SEO: What Actually Moves Rankings for a Small Firm Marketing

Law Firm SEO: What Actually Moves Rankings for a Small Firm

What actually moves search rankings for a small law firm: Google's published ranking factors, the content that earns visibility, and the myths to skip.

July 20, 2026