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Why Associates Leave and How You Can Get Them to Stay
Law firms invest significant time, trust, resources and energy into their associates. At times, an associate's frustration may be obvious and, as a result, his or her firm isn't surprised to learn that person is leaving. However, when a seemingly happy and successful associate announces the decision to move on, his or her firm can be left feeling shocked and confused. Many clients have reached out to us for insight behind these moves and what they can do to make their top associates want to stay.
In their 2017 Update on Associate Attrition, the National Association of Legal Placement (NALP) surveyed 128 law firms across the United States and Canada to pinpoint the top reasons associates leave. Anecdotally, as legal recruiters, we see strong patterns as well. The good news is that, according to the survey, overall associate attrition went down in 2016, dropping to 16% on average across firms of all sizes. However, on average, for every 25 new associates hired, 17 other associates left last year.
The cost of losing an associate can average $200,000 to $500,000 considering recruiting and training costs, the price of a resource shortage, administrative and human resource man hours, and other factors. Equally impactful is the potential effect of an associate's departure on firm morale and reputation. High turnover, or perceived high turnover, can ultimately hinder a firm's ability to continue recruiting top talent.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?