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Contingency firms scratch a bunch of lottery tickets, and sometimes get a (big) hit. I mean, it’s a little better than the lottery, because there is some skill involved; but, it is a lottery. So, when that endorphin rush of a big hit, um. hits – it’s easy to just plow that money into a new Maserati. But, you have other obligations , as well. The best strategy to employ, then, is to create a payoff sheet for settlements.
Law firms lack structure, generally; and, that’s also true of how they compensate their lawyers, beyond their salaries. And, that’s maybe the most dangerous game to be playing in the current hiring environment – because, if you can’t keep your current staff happy, they’re more likely to be able to find an alternate position, easier and faster than they ever have before.
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