In matrimonial law, it is not uncommon for litigants to consult with a series of attorneys in order to narrow the pool of available counsel able to represent their spouse and "conflict out" particular lawyers. There is also an increasing instance of well-informed clients retaining particular attorneys to cause the disqualification of particular judges. In both instances, the integrity of the legal system demands that all appearances of impropriety be eliminated even at the risk of the client losing his or her preferred choice of counsel.
Although a number of jurisdictions across the country have abolished the Rule Against Perpetuities altogether, the Rule remains very much alive in New York. Just this year, the Rule has reared its head in two appellate cases involving lease renewal options.
In order to assure that a firm chooses the best broker for the job, management should begin by soliciting proposals from a minimum of three or four brokers through an appropriate Request for Proposal process. To be certain that the RFP process provides the firm with relevant information from each broker to reach the best decision, the RFP should request detailed responses to the 10 questions addressed in this article.
The People's Republic of China has issued two circulars providing detailed compliance requirements aimed at reaching foreign service providers with clients in China. These new provisions will likely cause U.S. and multinational law firms with clients in China to reconsider existing practices and client engagement procedures in order to avoid the possibility of double taxation.
The FBAR is not filed with the tax return, discloses no information about the income derived in a foreign account, and is not used for calculating any tax obligations. Yet the IRS has converted the FBAR from a minor information report to a primary tool for pursuing hidden bank accounts.
Relationships only happen when we are committed to make them a priority, and that takes time and a commitment to 'water' the relationship seeds we sow.
The ability of bankruptcy estate professionals to obtain payment for defending their fee applications has been severely curtailed with the United States Supreme Court's decision of <I>Baker Botts L.L.P. v. ASARCO LLC.</I> But such a limitation is inappropriate.
A young, dynamic partner is rapidly building a practice. She is active, visible, and well connected in the market. She aggressively pursues business opportunities. She is known for her keen intellect, is highly respected, and her work is first rate. Clients regularly comment on her ability to seamlessly blend pragmatic legal and business advice that advances their agendas in very positive ways. Other firms have periodically made runs at her beginning around her mid- to-senior associate years, but she began her career here and feels much attached to the firm.
Ever wonder how outside counsel is selected? Their decision making process is often complex, involving multiple concerns and pressures. Lawyers and marketing professionals need to identify what they are up against and how to improve the selection challenges. We will be focusing on these components for several weeks.
As pressure on pricing continues, Big Law firms are buying (or building) analytics technology and hiring pricing specialists ' people who use market data, internal firm data and economics/pricing experience to ensure that firms are smart about bidding on work. The mission: Educate clients about the value the firm brings, while making sure to charge enough to make a profit.
