Read This Before You Set Your 2018 Billing Rates
Setting the next year's billing rates follows a simple formula at most firms: last year's rate plus a common percentage increase across all lawyer cohorts. A more disaggregated approach is needed -- firms should set higher percentage increases for senior lawyers and lower increases for junior lawyers.
<b><i>Sales Speak:</i></b> Award Winners: What Can We Learn?
In every issue of <i>Marketing the Law Firm</i>, we read about best practices and new trends. However, not even that prepared us for this year's LSSO (Legal Sales and Service Organization Inc.) Legal Sales and Service Awards winners — specifically, the long-term success established in a short amount of time at two law firms.
The FLSA's Overtime Provisions
<b><i>Construing Them Broadly, But the Exemptions Narrowly</i></b><p>FLSA cases holding against employers typically invoke a canon of construction that the FLSA should be construed broadly, and any of its exemptions narrowly. But this canon has a dubious foundation and tends to be applied inconsistently to justify a result.
Preventing Insider Trading at Biopharma Companies
Biopharma companies and their insiders often possess material, nonpublic information. And since company equity usually makes up a large part of insiders' compensation, legal issues arise when they have access to such information and want to trade their equity.
Case Notes
The U.S. Supreme Court is deciding whether to consider the case of Southern Baptist Hospital of Florida v. Charles, which pits a plaintiff against a hospital in the ongoing battle over which documents are privileged as adverse event records for the improvement of quality of care, and which must be turned over to aggrieved patients and their families.
New-Wave Legal Challenges for Bitcoin and Other Cryptocurrencies
As the adoption of cryptocurrencies spreads throughout the business and financial sectors, so too do the concerns that lack of regulation render the new-age currency susceptible to fraud, manipulation, and to being used as a vehicle for money laundering. Nevertheless, recent efforts by U.S. enforcement agencies to apply and enforce financial regulations mean greater scrutiny than ever before.
Laterals: When Is the Best Time to Make a Move?
If you are a partner considering a lateral move, then you are probably focused on the boost a new firm could offer your practice, and on cultural fit. However, the authors' review of the 2,353 partners who moved between Am Law 100 firms in 2010 through 2012 suggests that some more prosaic factors matter too.