Do you know who your firm's next leader will be? Do you have a short list of viable partner candidates? If your answer to these questions is no, you are not alone.

Features

Whatever compensation system a firm selects, it will work in the long run only if it has the confidence of all of the firm's partners. Based upon the author's experience, that confidence can best be won by providing a role in the process for all partners.

Notwithstanding the slowing economy, there are opportunities to strengthen the firm's finances and those of individual partners. The key in this or any year is careful tax planning — including year-end tax projections — that will help lessen federal and state tax liabilities, prepare for possible exposure to the alternative minimum tax, and discover potential ways to save and streamline.

Savvy firms are expanding their tool kits to effectively manage the business of law. Inventory analysis is a critical component, and used wisely, can point to risks and trends early, preventing cash flow problems down the road.

Features

Highlights of the latest intellectual property news from around the country.

In <i>Prasco, LLC v. Medicis Pharm. Corp.</i>, the Federal Circuit declined to allow a declaratory judgment action on unasserted patents and provided some useful guidance in understanding what factual circumstances would be insufficient to establish a justiciable controversy.

Who's doing what; who's going where.

In Part One of this article, the authors discussed the issues of whether the Debtor is a "health-care business," if an ombudsman must be appointed, and if you should seek to prevent it. This month, the authors discuss the question, "What if HHS seeks to affect Medicare reimbursements or exclude the Debtor from a federal health-care program?