While partnership abroad may be essential to business success, it creates significant risk under the FCPA the government's primary weapon against bribery of foreign officials. Recent FCPA prosecutions by the DOJ and the SEC illustrate the risks for companies that fail to adequately vet and monitor third-party intermediaries.
A series of three verdicts for plaintiffs, the most recent occurring in December 2015, may present significant litigation issues for Johnson & Johnson and its subsidiary, Janssen Pharmaceuticals.
The "one-percenters" that we are hearing so much about in this year's primary election campaigns also have an analogous place in current law firm economics. The rich are getting richer, and most others are struggling to hold their own.
A recent Massachusetts case reminds practitioners of a number of important considerations in planning for trusts to minimize the risks of their being breached in a matrimonial action. Several suggestions on how practitioners might be able to mitigate these risks, even for existing trusts, are included in this article.
The Wall Street Journal's recent front-page headline on billing rates tells only part of the story. "Legal Fees Cross New Mark: $1,500 an Hour," the Feb. 9 article announced before listing partner hourly rates at several big firms. But that's only part of the story.
Chief Justice John Roberts recently said that the new amendments to the Federal Rules of Civil Procedure should "achieve the goal of Rule 1 ' 'the just, speedy, and inexpensive determination of every action and proceeding' ' only if the entire legal community, including the bench, bar, and legal academy, step up to the challenge of making real change."
Despite appearing to accept that rapid and ongoing market change is here to stay, firms, and their leaders, have responded with change efforts that can largely be described as limited and reactive short-term solutions. Why?
Ask lawyers what they find EXCITING about selling (it is okay to use the "sales" word) and most will say winning, followed closely by developing new relationships. On the flipside, they fear rejection and failure. Add risk aversion and low resilience to the mix and business development can feel daunting.
At the end of 2015, Congress passed, as part of a large tax extender bill, the Protecting Americans from Tax Hikes Act (PATH), an extension of '181 of the Internal Revenue Code. Section 181 has been available since 2004 to permit expedited deduction of the costs of a film or TV production. Since inception, this has had several sunset provisions, each of which was extended as part of year-end extender bills. The latest for the first time has extended the availability of '181 treatment to live stage productions.
Covenants not to compete are not the favorites of courts. Enforcement of such restrictions reduces competition; accordingly, the analysis requires the weighing of various factors and the cases are decided on in a fact-sensitive manner. In Aamco Transmissions v. Romano, the district court elegantly reviewed the specific facts of the case, modified the contractual covenant not to compete, and concluded that the former franchisee did not violate the modified covenant.
