Alternative Fee Agreements
September 02, 2013
There have been a spate of reports the last few months on alternative fee agreements, or AFAs as they are also known. Subsequently these have stirred a tremendous amount of conversation in the industry. Some of the conversation is helpful, some of it is constructively critical, and some of it is quite simply confusing.
Taking Control of Your Partner Education Program
September 02, 2013
After three years of law school, hours spent studying for the Bar exam, and many years toiling away at the associate ranks, new partners often believe that there is nothing new they need to be taught about being a principle of a law firm. The resistance to spending time in a classroom is palpable. It is viewed as tedious and, since partners are rarely compensated for learning or personal development, they are less inclined to "waste" their time.
Year-End Benefit Planning and Accounting Treatment
September 02, 2013
A '79 group benefit plan has funding and timing opportunities similar to qualified plans without the added expenses and discrimination testing of '401(a)-type plans. The reporting at the employer level is less complex and draconian. Nevertheless, as with all accounting issues, it is up to the employer's accountant to interpret FASB statements and opinions, and make the final decision as to how individual transactions are reflected on the employer's financial statements.
Does the SEC Still Care About Financial Reporting Cases?
September 02, 2013
In recent years, the U.S. Securities & Exchange Commission (SEC) has brought far fewer revenue recognition and other financial reporting cases than it had historically. That leads us naturally to wonder whether this trend will continue in the future. Not likely.
Joint Defense Agreement Considerations in NPE Patent Litigation
September 02, 2013
Accused infringers in patent litigation, especially against non-practicing entities (NPEs), often form joint defense groups to defend against common claims brought in one or more actions. A written agreement of the joint defense group can make plain the respective rights and obligations of each group member and evidence to the court a requisite alignment of common interest underpinning the group. The following is a selection of relevant considerations to support productive group interaction through appropriate provision in the joint defense agreement.
Commercial Real Estate Debt Restructuring
August 23, 2013
For real estate bankruptcy law practices, there is significant opportunity in distressed real estate. This article discusses real estate restructuring teams and how they work.
Marketplace Fairness Act May Help Clear Muddy Tax Waters
August 02, 2013
With my mom probably one of a handful of people who haven't made an Internet purchase, I think it is fair to say that we have all seen certain online retailers almost bragging that there is no sales tax on merchandise ordered from their e-store. The first question this raises is whether the "qualifying order" language refers to the shipping, the sales tax or both.
The Future of the Legal Profession
August 02, 2013
The future has already happened. During the past five years, the legal industry has been going through a dramatic transformation that is driven by a number of changes. This restructuring in the way legal services are delivered affects all law firms. As a result, developments that law firms did not expect are impacting the industry.
Law by the Numbers
August 02, 2013
Every law firm is a business and every business should know where it's going. Lawyers who understand statistical analysis of their firm's operation can explore operating efficiencies, gauge the firm's performance relative to its financial goals, and better assess and reflect value to clients in their bills.
