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Despite Pandemic, Profits At Am Law 100 Firms Leapt to New Heights
The past year posed new and unusual challenges for U.S. law firms, rattled by economic uncertainty, remote work, stay-home orders and social distancing. Despite the turmoil, profits at the Am Law 100 leapt to new heights. According to the 2021 Am Law 100 report, eight firms posted net income in excess of $1 billion in 2020, profits per equity partner spiked 13.4%, and the average profit margin bumped from 40% to 43%.
Kirkland & Ellis led the Am Law 100 in profits with $2.95 billion, with Latham & Watkins next at $2.37 billion. They were joined in an expanded billion-dollar club by Skadden, Arps, Slate, Meagher & Flom; Gibson, Dunn & Crutcher; Morgan, Lewis & Bockius; Jones Day; White & Case; and Simpson Thacher & Bartlett.
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The Article 8 Opt In
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
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
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
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
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.