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Can Law Firm Partners Sue for Employment Discrimination?
Traditionally, law firms were organized as “true partnerships” in which each partner had a substantial voice in firm affairs and could be subjected to unlimited liability for the debts of the firm. As high-profile cases have highlighted the risks of such a structure, however, many firms have abandoned the classic form and adopted “hybrid” business models such as professional corporations, limited liability companies and limited liability partnerships.
In these hybrid business models, firms often choose to consolidate management and control of the firms' affairs in small executive or management committees. Firms also, with increased frequency, have created tiered partnerships and “quasi-partner” positions for senior attorneys such as “of counsel,” “special counsel,” “junior partner,” or “non-equity partner.” By creating these less-than-full-partnership-positions, firms can ensure that the management of the firm remains in the hands of a few partners in the “inner circle” while retaining experienced, senior attorneys who can generate substantial revenue for the firm.
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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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.