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Non-Equity Partnerships Are on the Rise Again
Many changes continue to occur in the traditional partner/associate structure in law firms. Permanent associates, staff or contract attorneys, temporary attorneys, of counsel (in one form or another) and non-equity partners have been added to the mix.
Until 10 years ago, only about 50 U.S. firms had a non-equity partner tier. Furthermore, as many firms dropped the category each year as adopted it, so the number remained more or less constant. Since then, however, there has been a steady increase in the number of firms creating a tier of non-equity partners. Various sources report that most of the AmLaw 200 and at least 65% of the medium-sized firms now have a two-tier structure. Even smaller firms are following the trend. There are some with as few as 20 lawyers who have created a category of non-equity partner.
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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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.