Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Law Firm Partnership & Benefits ReportKickerFeaturesSectionsNewsLJN Newsletters

Around the Firms

By Teri Zucker
September 03, 2003

Am Law 100 Shows Growth Despite Down Economy. Average profits per equity partner rose 6.9% among the Am Law 100 firms in 2002, according to the latest list released on July 1. Gross revenue increased by 8.5% and revenue per lawyer grew by 4%. How did law firms increase revenues when the rest of corporate America is suffering through hard economic times? As it turns out, through careful management. The number of lawyers grew by half of the revenue increase ' 4.2%. And of the 15 firms that saw a drop in revenue per lawyer, nine showed increases in profits per equity partner. The slowdown also affected equity partners, but not non-equity ones: the number of equity partners grew just 2.8%, while non-equity partnerships grew by 13.4%. Also, somehow in a down econonmy, Am Law 100 firms were able to actually increase billing rates 3%-6% in 2002. More information on the 2002 Am Law 100 list can be found at http://www.americanlawyer.com/.

One More Cooley Partner Joins Morrison. William Veatch, formerly a finance partner and a 9-year veteran at Cooley Godward, has joined the San Francisco office of Morrison & Foerster. Veatch felt that through Morrison's New York and international locales, he would be able to extend his practice. He also stated that Cooley caused friction for him regarding several banking relationships. He is not the only one to resign from Cooley in 2003; at least seven Cooley partners have left to join other firms since January.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office Image

A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.

Bankruptcy Sales: Finding a Diamond In the Rough Image

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.

Bit Parts Image

Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights

Risks of “Baseball Arbitration” in Resolving Real Estate Disputes Image

“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.

Disconnect Between In-House and Outside Counsel Image

'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.