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Future Employment Considerations for Law Firms
For a few law firms, the post-recession legal world looks the same as it did pre-recession, but for most, it is one where significant changes must be made to their business models in order to survive and prosper. The firms requiring significant change are seeing their clients demanding more work for less money, fewer associates staying with the firm, competitors using different staffing models to compete ' and sometimes win ' on price, and the internal need to squeeze more profits out of a flat or slightly declining revenue stream.
Along with a basic operational focus shift from revenue to profits comes many interesting discussions and plans related to “efficiency” in the service delivery model. Absent significant, foundational changes, each model has a limit to the profitability level it can sustain. The business of law is based on a simple supply ' demand relationship and the demand patterns have changed and will not return to pre-recessionary levels any time soon. Some firms have already made significant strides with respect to driving down the costs of services provided on the supply-side of the equation, while those firms that have not already done so will likely be forced to re-design the structure of their attorney staffing, re-evaluate the types of lawyers they hire, evaluate lateral books based on the top and bottom lines, and re-structure how lawyers are developed within the firm.
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.
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.
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.