The following In-house Advisor practice note Produced in partnership with Paul Gilbert and Lawrence Smith of LBC Wise Counsel provides comprehensive and up to date legal information covering:
Scenario: The team is working hard, but demand is increasing and resources are tighter than ever. The usual edicts have gone out from the business to do more with less, yet operational pressures are increasing. Some lawyers perhaps risk a burn out, but the space for change is decreasing and the energy/appetite for change is not obvious. This is the not untypical drift to a place where the team, despite its best day-to-day endeavours, has lost momentum to keep on top of demand and to effect influence over their work.
Three interdependent moving parts can make this situation better:
making a real reduction in the volume of work coming into the team
resetting the role, strategy and short-term objectives for the team
putting in place the longer-term infrastructure changes around knowledge management, training and policy/process that help to better manage future demand
The first challenge is to address volumes. An assessment must be made of what is to be done, by whom and for whom. This is typically called activity analysis, and it is the foundation for making an informed decision on how to assess demand—see Practice Note: An activity analysis ca
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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0330 161 1234
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