Law.com Subscribers SAVE 30%

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

Accounting and Financial Planning for Law FirmsKickerFeaturesSectionsNewsLJN Newsletters

Let the Hirer Beware: Increased Lateral Hiring Increases the Risk of Malpractice Claims

By Brant Weidner

A lawyer moving from firm to firm is nothing new. What is novel is the volume of lawyers on the go as the legal profession feels the sting of this recession. “Forced attrition” at law firms has reached unprecedented levels. At last count, more than 4,300 lawyers have been laid off from major law firms since January 2008 (see http://www.abovethelaw.com/layoffs). More than 1,300 pink slips came in one month alone. These staggering numbers do not contemplate downsizings taking place at smaller firms, or stealth reductions, taking place under the radar, at larger ones. These numbers also don't count the hundreds of lawyers being cut loose by the wholesale dissolutions of firms, notably the century-old Heller Ehrman.

Add in the many employed lawyers with healthy books of business who are looking elsewhere as their firms' finances decline, and you have an unprecedented number of wingtips pounding the pavement: a pool of potential lateral hires like none the legal profession has seen before.

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
The Article 8 Opt In Image

The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.

Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers Image

There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.

Major Differences In UK, U.S. Copyright Laws Image

This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.

Strategy vs. Tactics: Two Sides of a Difficult Coin Image

With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.

Transfer Tax Implications on Real Property Leases Image

The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.