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Outsiders As Overseers
In the wake of Enron, WorldCom, and other corporate scandals, corporate governance has come under the microscope. One reform that has been widely endorsed is the election of more independent, outside, nonexecutive directors to boards of publicly owned corporations. Outside corporate directors provide not only accountability but also perspective, diverse experience, and credibility.
Law firms might well benefit from outside directors in the same way. Indeed, some non-U.S. firms have already done so.
Historically, until the last quarter of the 20th century, law firms were small and very private, even mysterious. They shunned publicity and operated secretively, more like college fraternities than businesses.
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Major Differences In UK, U.S. Copyright Laws
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Strategy vs. Tactics: Two Sides of a Difficult Coin
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Removing Restrictive Covenants In New York
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