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The Business Benefits of Leasing When Combatting the Increasing Costs of Operating a Firm
The cost of operating a law firm is becoming more expensive. From increases to associate pay, to rising costs of recruiting, to the additional costs of hybrid operations and increased cyber security needs, there's a variety of reasons as to why overhead expenses have been steadily increasing quartile by quartile, with Q1 of 2023 ending at an 11.7% increase, according to the Citi Law Firm Group Q1 2023 Report.
Even more challenging is that — for most firms outside the top 50 — incoming revenue is not meeting this steady increase in expenses. This year as of the end of Q1 2023, expenses were outpacing revenue by 6.3% across the industry, mainly for firms outside the top 50 firms which reported revenues outpacing expenses through record breaking rate increases, according to the Citi report.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
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.