Increasingly, law firms rely upon acquiring lateral partners and practice groups to grow revenue more quickly than they can by increasing output with existing talent. With this kind of money at stake, a prudent firm is constantly on the lookout for ways to hedge against the risks of acquiring laterals. Implementing an effective retirement succession program is one of them.
It's time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.
It's time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.
Last year saw a "staggering" jump in the number of law firm leaders who said they wanted to increase their nonequity tier going forward. Now it's clear many of the biggest Big Law players are following through, with several Am Law 100 firms growing their income partner ranks by double-digit percentages in 2023.
In a quest to maximize profitability, Am Law 200 law firms have grown their share of business tied to contingency fees, a gamble that has paid off for some firms in recent years.
Organizations understand that their workplace environment reflects the culture of their organization and are making extraordinary changes to their real estate and fundamental differences in their office operations. But is it working?
Generation X lawyers stand poised to wield considerable influence. Gen X has always served as a bridge — between tradition and innovation, the old and the new. Unlike their predecessors who were more comfortable with tradition and a stare decisis mindset, they infuse a sense of flexibility and agility into management strategies.
While some firm leaders pointed to market factors such as economic uncertainty, most indicated that declining realization rates were a price they were happy to pay in exchange for several years of strong rate increases.
As firm financials results stream in, we're covering them firm by firm, as we've always done. You can read those story in this continually updated feed. So bookmark it, check back regularly, and stay tuned for the Am Law 100 and Second Hundred reports coming soon.
More and more, firms are understanding that it's the firm's ability to convert its agreed rates through billing and collections to collection realization that really counts. So why is it such a challenge for firms to solve it?
Over a decade ago, a Delaware Chancery Court's footnote in <i>Credit Lyonnais Bank Nederland, N.V. v. Pathe Communications</i>, 1991 WL 277613 (Del. Ch. 1991), established the "zone of insolvency" as something to be feared by directors and officers and served as a catalyst for countless creditor lawsuits. Claims by creditors committee and trustees against directors and officers for breach of fiduciary duties owed to creditors have since become commonplace. But in a decision that may have equally great repercussion both in the Boardroom and in bankruptcy cases, the Delaware Chancery Court has revisited zone-of-insolvency case law and limited this ever-expanding legal theory.
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.
The "right to associate" permits the insurer to work with the insured to investigate, defend, or settle a claim. Such partnerships protect the insurer and can prove beneficial to the insured's underlying case and ultimate exposure.
It's pretty shameful that in the current crisis we're seeing ransomware on the rise. It's even more shameful that organizations involved in fighting the virus seem to be especially at risk.
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.
