Date: August 2010
Creator: Carroll, Margaret Aby
Description: This purpose of this study was to develop evidence of a relationship between law libraries and private law firm profitability for law library administrators to use when making strategic decisions that influence the value of their libraries. The highest ranked administrator at each private law firm listed on the 2008 Am Law 200 was invited to complete an online benchmarking survey. The adjusted sample population totaled 179 firms. Fifty-one valid surveys were completed for a 28.5% response rate. Descriptive and statistical analyses were conducted using 26 independent variables (law library characteristics) and a single dependent variable, Revenue per Equity Partner, developed from data published for the Am Law 200. The most significant contributions of this study are: development of important law library financial and return on investment benchmarks; a listing of characteristics that have been empirically shown to impact law firm productivity; identification of optimum reporting structure for the law library administrator. Six characteristics positively impact Revenue per Equity Partner: to whom the library Administrator reports, number of library staff per library, number of Library staff per library, range in hourly bill rate for library staff time, practice areas most often supported. Two monetary measures were also established. The cost ...
Contributing Partner: UNT Libraries