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Law Firm Debt Levels Shrink as Partners Put More Skin in the Game
A recent examination of major law firm failures showed how expansion and revenue gains can sometimes mask the struggles of law firms saddled by massive debt. Eventually, the debt load becomes too heavy, choking off growth and hastening collapse. (see, "Warning Signs: How Big Law's Greatest Failures Unfolded," The American Lawyer (Oct. 29, 2019).
But industry watchers say law firms have become less reliant on bank debt over the past decade, as they explore other funding options. Often, that means raising capital from partners, or turning to other, less common sources.
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Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.