Law firms generate revenue by billing clients through various payment structures, such as hourly billing, flat fees, contingency fees, and retainers. Many other factors impact law firm profitability, including billing and realization rates, the use of legal technology, and strong client service.

In most law firms, the hierarchy is conceptually set up like a pyramid with the partners – the senior most attorneys – at its apex, more junior attorneys ranking below them and so on. But dig deeper and you'll find the structure a bit more complicated than it appears at first glance.

Obtaining Necessary Information. A third reason you'll receive calls and emails from your attorney's office is if they need to get a phone number, amount, or case detail from you.

“Firm” is just another way to say “business entity.” We call law firms “firms” because they are business entities that can be structured as limited liability companies (LLCs), limited liability partnerships (LLPs), or professional corporations.