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Lateral Partner Recruiting Effective Use Of Search Professionals
Cravath, Swaine & Moore, one of New York's elite law firms, recently hired its first lateral partner in over 60 years. While an exception at Cravath, hiring lateral partners has become an indispensable strategy for law firms in achieving important business objectives and in thriving in hotly competitive markets.
Whether it is developing a national practice in mass tort litigation, opening up a branch office in Hong Kong or Beijing, or establishing a biotechnology patent practice, hiring lateral partners is a necessary means to reach those goals. All too often, though, firms fail to meet their lateral hiring objectives because of an inadequately designed hiring program. One critical feature of an effective hiring program at this level is partnering with experienced legal recruitment professionals. The two most important decisions facing a law firm in engaging a search professional are: 1) selecting the right search firm or firms; and 2) deciding whether to engage that search firm on a retained or contingent fee basis. The decision about retained versus contingent search may also influence the selection of a recruiting firm.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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Bit Parts
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
“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.