Event: The Legal Cheek Commercial Awareness Academy (law firm economics) — with Cooley and BARBRI
Friday 21 October, 9:30am to 11am, taking place virtually
Welcome to the first in this year’s new series of The Legal Cheek Commercial Awareness Academy, a partnership with BARBRI and various leading law firms, designed to help boost students’ business and legal sector knowledge as they apply for training contracts.
The Academy kicks off on the morning of Friday 21 October with a session all about law firm economics, delivered by Cooley associate Nicola Squire.
Time: 9:30am to 11am
Location: Virtual event
Level: Students, Graduates
Nicola will break down key themes including:
• The concept of hourly billing and lawyers charging for units of time
• Fixed fees and other ways to bill legal work
• The partnership model
• Law firm financials (including key concepts such as profit per equity partner and revenue/turnover)
• How law firms generate new business
Also up for discussion will be how students can continue to develop this key branch of commercial awareness as they apply for vacation schemes and training contracts.
Following the talk there will be an audience Q&A, hosted by BARBRI’s senior director of business development Victoria Cromwell to ensure full understanding of the topic. There will then be virtual networking with the BARBRI SQE team.
This is the first in a new series of five Commercial Awareness Academy sessions, running from October 2022 through to late spring 2023. After each session you will be required to sit a short test to demonstrate your understanding of the topic. If you pass all five tests, you will receive a certificate of completion.