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Lessons from 2021 That Will Help Prepare for 2022
As law firms enter the last quarter of 2021, the very cloudy and opaque future that prevailed in January has cleared considerably. Many firms are projecting that 2021 will be an improvement over 2020's overall 6.6% average revenue growth and 13.4% PPEP growth, which in January was not the common wisdom.
Of course, 2021 is not over and any projections we now have are dependent on a strong last quarter of collections, new business and the lack of a strong economic setback triggered by a U.S. debt default or other externally motivated economic setback.
But we have also learned some things in 2021 that should not be forgotten or overlooked in the rush to year-end. Two standouts are: 1) cybersecurity; and 2) attorney well-being.
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How Secure Is the AI System Your Law Firm Is Using?
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
COVID-19 and Lease Negotiations: Early Termination Provisions
During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant's space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.
Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
Authentic Communications Today Increase Success for Value-Driven Clients
As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.