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By the end of its last term, the Supreme Court decided four significant antitrust cases, resulting in one of the most antitrust-focused terms in the Court's history. In rendering decisions favorable to the defendants in all four cases, the Court quickly drew the dreaded 'pro-business' label. Commentators on the left criticized the decisions as marking a hard-right turn on antitrust policy, while those on the right lauded the Court's restoration of free-market principles to competition analysis. These broad pronouncements overstate the similarities among the cases, which arose in a wide range of industries and raised quite different legal issues.
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With a last-minute extension by the IRS, the final regulations adopted under Section 409A of the Internal Revenue Code now impose a hard Dec. 31, 2008 deadline on making necessary amendments to deferred compensation arrangements for employees, directors, and certain independent contractors of private, not-for-profit, and public companies in order to avoid federal excise taxes at a rate of 20% (plus retroactive interest).
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News about lawyers and law firms in the franchising industry.
Highlights of the latest franchising news from around the country.
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Highlights of the latest franchising cases from around the country.
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This month's installment continues an exploration of the differences that franchisors in the United States and Canada will face when seeking injunctions to enforce non-competition and other covenants contained in their franchise agreements.
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New York's Sullivan & Cromwell LLP plans to pay counsels and senior associates (fifth-year level and up) bonuses tied to the firm's financial performance.
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This article examines the two main objections to outside ownership of law firms. The first is that it would permit nonlawyers to interfere with lawyers' exercise of professional judgment. The second is that the firm's duty to its shareholders would lead it to focus blindly on maximizing profits.
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This commentary provides some preliminary thoughts on how equity investments in non-U.S. law firms may change how U.S. law firms do business.
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The Internal Revenue Service has not weighed in on the proper tax classification of series LLCs. Accordingly, lawyers recommending this new form of entity to clients or considering a series LLC for an ancillary business of the law firm or other purpose should proceed with caution.
