Many firms believe that it is inefficient to borrow funds for case development costs when they can afford to make such advances out of pocket. However, such is not the case. Most law firms are investing ever larger sums of hard earned capital into case expenditures as successful firms are adding cases thus the amount invested grows by the year. Success begets Success which means every year they are plowing after-tax funds in case development costs. Wouldn’t it make more sense to invest these funds conservatively in a retirement fund. The principals of the firm would recognize dramatic financial benefits from this.
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