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EXPLAINING THE INSIDER/OUTSIDER DISCONNECT
Our last column explored the disconnect between how in-house and outside counsel view the work of the latter. The reader will recall that in a recent survey, 62% of law firms gave themselves an “A” for overall performance during the past 3 years. Only 19% of in-house counsel scored them that high.There are a few possible explanations.1. The in-house sector radically changed its value proposition in the year or so separating the surveys.2. Radically different samples between the previous surveys may have been polled. Even if true, it is cold comfort to law firms that they can never know which of these two radiclly different “priority sectors” of their current clients or prospects represents.3. In-house counsel change their fundamental priorities as their own moods dictate or, more probably, as internal pressures and external business conditions change, I'll bet on this explanation being the best one. If I'm not right in every instance, I'll be right often enough.4. Conclusion: law firm sellers must somehow shift with their clients and prospects. It's a formidable challenge, really.
Our last column explored the disconnect between how in-house and outside counsel view the work of the latter. The reader will recall that in a recent survey, 62% of law firms gave themselves an “A” for overall performance during the past 3 years. Only 19% of in-house counsel scored them that high.There are a few possible explanations.1. The in-house sector radically changed its value proposition in the year or so separating the surveys.2. Radically different samples between the previous surveys may have been polled. Even if true, it is cold comfort to law firms that they can never know which of these two radiclly different “priority sectors” of their current clients or prospects represents.3. In-house counsel change their fundamental priorities as their own moods dictate or, more probably, as internal pressures and external business conditions change, I'll bet on this explanation being the best one. If I'm not right in every instance, I'll be right often enough.4. Conclusion: law firm sellers must somehow shift with their clients and prospects. It's a formidable challenge, really.
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
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.