At a recent meeting with the founding attorney of a successful law firm, the lawyer lamented "the trouble with my business is that my key assets all go home at night!"
His point underscores the challenge facing service firms.
Traditionally we think of the key assets of a business as the capital assets (such as the factory and equipment), or the operational assets (such as their inventory). But if you're a law firm, a web design company, a literary agent, or …. shall I go on? …any kind of firm where human capital is the key driver, the term "key asset" has a different meaning. For so many of these firms, their key assets breathe oxygen, drive their own cars, and break down from non-mechanical reasons.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
