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Ask the oracle

Ask the Oracle

The law firm as a business
Dear Oracle ...

I know that an essential aspect of being commercially aware is understanding how law firms operate as businesses. I appreciate that commercial firms play an important role in business and have to make money themselves, but is there more to it than that?

Features

The commercial year 2015-16

Like the laws of physics, there is often a temptation to seek certainty in the cold, hard numbers of business and economics; but such certainty is generally illusory, as the reality inevitably proves more complex and what is one person’s triumph can be another’s misfortune.