Instead of sharing my insights, experience and opinions as a 20-year vet in legal public relations, I went directly to the source – the ALM Media editorial staff. Here is what they had to say about the impact of COVID-19 on the industry as a whole and what they want and expect from law firms and PR pros in 2021.
In the legal industry, transitioning to a culture of care poses more of a challenge to law firms than other businesses. What is needed now is for attorneys to seize the chance to reshape their profession and strengthen their position as leaders of our society.
With a new year and fresh outlook for the future, the time is ripe for legal technologists and innovators to take the delivery of legal services and client experience to the next level. One key is recognizing that successful innovation is equal parts mindset, method and message.
What kinds of firms are best positioned to provide superior value to clients and why this is such a critical consideration in the current economic climate.
Law firms are increasingly adding new staff members and software to calculate their profitability, helping firms determine partner compensation and make other business decisions.
As alternative legal service providers (ALSPs) continue to take root with significant growth across the legal world, law firms have to consider how these niche companies affect their bottom line and how to react to this burgeoning parallel industry.
Firms must be cautious as they re-examine budget priorities to not underestimate the harm that can be caused by failing to consider the long-range damage that can be done to a firm's brand by cutting back too much on their marketing efforts.
The game has changed substantially for law firms today — the evolution of the legal business model is underway and artificial intelligence (AI) is playing a big role in calling time on the billable hour.
As we enter 2021, we should expect the needs of business and society to continue colliding. But if law firms prepare for those collisions, they can drive better outcomes.
Success in 2020 is likely to come down to who your clients are. If they were hit hard by the pandemic that will trickle down to their vendors, including law firms. But for others, the top line could come out nearly unscathed.
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.
