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The preliminary results for how law firms performed in 2021 are beginning to trickle out. Despite COVID lockdowns and on-again off-again return to the office efforts, American law firms are reporting record utilization and profits. At least six of the AmLaw 100 firms will report profits-per-equity-partner (PPEP) of $5mm or more, exceeding last year’s record number of five firms, and not all firms have reported their final results.
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Congress and the Evolving SECURE Act
By Lawrence L. Bell
The SECURE Act aims to encourage Americans to save more for retirement, in part by making that process easier. SECURE 2.0, recently passed by the House of Representatives would continue to tweak the rules for contributing to and withdrawing from retirement savings vehicles. It’s on its way to the Senate.
How to Manage 6 Risks Affecting Cybersecurity for Law Firms
By Chris Mangano and Edward Keck, Jr.
Cybercriminals are increasingly targeting law firms; extortion is quickly realized, given the nature of highly confidential client data. The digital footprint of law firms is constantly expanding, leading to more entrances to a firm’s network infrastructure, which is a direct gateway to data.
Amending the Law Firm Partnership Agreement
By Arthur J. Ciampi and Maria L. Ciampi
Many law firms with a written agreement stick it in a drawer, rarely read it, and do not amend it. Failing to amend the agreement can cause harm to the firm and its partners.
The 2022 GC Compensation Survey: Pay Spikes After Pandemic Pause
By Phillip Bantz
Pay for the nation’s most powerful legal chiefs has rocketed back into the stratosphere following a slump amid corporate austerity measures during the height of the COVID-19 pandemic — and a familiar name has reclaimed this year’s cash king crown.
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