This white paper suggests ways that a law firm can efficiently assimilate new learning among its lawyers. The main goal is to improve the quality and consistency of service to clients. This makes clients happy and reduces risk to the firm. A further benefit is that junior (and lower-cost) lawyers can more quickly get up the learning curve, which reduces the cost to the client. These lower costs generally lead to reduced write-downs and write-offs, which improves realization rate and profitability.

This white paper was prepared for a program at the Nov. 2013 meeting of the Federal Regulation of Securities Committee of the ABA's Business Law Section.

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