Ancillary Businesses Losing Appeal
November 30, 2007
Law firms once dreamed of owning separate businesses to bring in new streams of revenue, and while some achieved that goal, the industry is now largely backing away from a strategy that provided little economic benefit.
Guiding Expenditures on Law Firm Videos
November 30, 2007
Videos are popping up increasingly on firm Web sites, but at least one analyst warns that law firms might be paying too much for too little.
Accepting the OMP Role: Financial and Practice Impacts
November 30, 2007
If gratitude is measured in dollars, office managing partners ('OMPs') are a bit taken for granted. In an informal Recorder survey of San Francisco Bay Area office managing partners, 70% say they work more than when they practiced law exclusively. But only 22% say they are earning more than before they took the post.
Waiver of Attorney-Client Privilege and Work-Product Protection: Proposed New Federal Rule of Evidence Is under Consideration
November 30, 2007
At its Sept. 18, 2007 meeting, the Judicial Conference of the United States approved a proposed new Federal Rule of Evidence regarding waiver of attorney-client privilege and work-product protection. Because Rule 502 is a rule dealing with privilege and because the Rule would govern state courts regarding certain issues, the Rule must be enacted directly by Congress. Accordingly, at press time, the Judicial Conference will now submit the Rule to Congress, which will vote 'yay or nay' by no later than December 2007. If Congress approves the new Rule 502, the Judicial Conference will transmit the Rule to the U.S. Supreme Court by Dec. 18, 2007, keeping it on the path to be enacted on Dec. 1, 2008.
Movers & Shakers
November 30, 2007
News about lawyers and law firms in the commercial leasing industry.
FIN 48: Accounting for Uncertain Income Tax Positions
November 29, 2007
This article provides a brief overview of the two-step, benefit-recognition approach implemented by FIN 48, a summary of the disclosures required by FIN 48, and a discussion of issues associated with protecting FIN 48 compliance documentation from disclosure to taxing authorities.
Update on Lawyer Retirement Perspectives
November 29, 2007
In the newly released Altman Weil Flash Survey on Lawyer Retirement, only 38% of lawyers agreed with the enforcement of mandatory retirement provisions in law firms. However, 50% of respondents reported that their firms currently have mandatory retirement policies. These findings may encourage more discussion and possibly policy changes in U.S. law firms.
IP News
November 29, 2007
Highlights of the latest intellectual property news from around the country.
Survey Power
November 29, 2007
Courts and lawyers should pay particular attention to survey findings such as there is 'no likelihood of confusion,' 'there is no likelihood of dilution,' and ensure that the power of the test is high to rely on such conclusions. Anytime a commissioned survey indicates 'no effect,' in addition to issues such as question clarity, randomness of the sample, and other methodological issues, there is the additional critical issue of statistical power.
