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Advantages and Limitations of a Two-Tier Partnership Structure
More elite law firms, including the recent addition of Cravath Swaine & Moore, are introducing two-tier partnership structures. This approach, inspired by early movers like Kirkland & Ellis, has gained wider acceptance as a key tool for increasing profitability, as well as talent acquisition and retention. Let's explore how this model is reshaping law firm dynamics, offering new opportunities and challenges in the war for legal talent.
Historical Context of Law Firm Partnership Structures
For much of the 20th century, the legal profession adhered to a traditional, one-tier equity partnership model. Under this model, partners were compensated through a "lockstep" system, where earnings and seniority progressed in a tightly coordinated and predictable manner.
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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.
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.
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.