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Without Mandatory Retirement, Lack of Succession Plans Threaten Small and Midsize Firms
The pandemic initially caused many lawyers to speed up their exit from the profession. But it was also the reason some decided to stick around, exacerbating one of the most common impediments to succession planning: the transition of institutional clients to up-and-coming partners.
Of lawyers aged 62 and up who said the pandemic changed their retirement plans, 47% said the pandemic caused them to hasten their plans while 53% said it caused them to postpone retirement, according to the American Bar Association's 2021 Profile of the Legal Profession. And if the economic downturn continues into 2023, even more lawyers could reconsider their retirement plans.
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Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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.
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.
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.
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.