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How Legal Services Can Maintain Profitability in a Shifting Landscape
Since the 2008 economic downturn, the U.S. legal market has undergone a permanent restructuring. With huge firms collapsing due to crippling debt, we see that legal services firms are no longer untouchable. The legal environment has become increasingly challenging as competition has increased, demand for legal services has remained flat, and firms are being forced to adopt more efficient, cost-effective and strategic business models. Further challenging legal services firms are: the visibility of public information about their capabilities, practices, clients and earnings; the drive towards commoditization of legal services; and the impact of globalization and cross-border mergers.
According to the “2013 Report on the State of the Legal Market” by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Peer Monitor, firms will not stay profitable in the future without streamlining their business structures and improving operational efficiencies. See , http://bit.ly/191cxcT.
The DOJ's Corporate Enforcement Policy: One Year Later
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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
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.
A Lawyer's System for Active Reading
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.