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In 1999, Charles Morgan, then executive vice president and general counsel of BellSouth Corporation, crafted and published a document commonly known as the Statement of Principle. The Statement was eventually signed by more than 500 general counsels and advocated the importance of diversity in the workplace both from a business perspective and because it is the right thing to do. The Statement also served as notice to the law firms representing the signatory corporations that diversity would be an important consideration in the selection of outside counsel. The operative language in Mr. Morgan's Statement of Principle as it relates to law firms reads as follows: 'We expect the law firms which represent our companies to work actively to promote diversity within their workplace. In making our respective decisions concerning selection of outside counsel, we will give significant weight to a firm's commitment and progress in this area.'
Harbinger of Change?
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Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.