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Anyone following the news headlines of late is aware that artificial intelligence (AI) is being heralded as the technology that will transform industries far and wide — including the legal profession. The evolution of technology in the practice of law today has already led to significant advances in data analytics and data visualization, each of which are having a significant impact on legal work.
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A common perception of today's legal services industry is that buyers of legal services have many more choices because legal services are disaggregating and unbundling. No longer are law firms the only option for clients with legal work; they now have a wider menu of providers from which to choose.
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While it remains unclear both when the regulators will invoke their authority to enforce the nearly limitless strict liability provision of the "pay-to-play" rules and how they will determine the appropriate remedy, the recent settlements and the SEC's handling of exemptive relief petitions may provide some clues.
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The legal profession has never been more cutthroat. As the race for revenue intensifies, firms are putting more pressure on their partners to perform in a number of criteria. If they don't, it will be reflected in their compensation, title and possibly their place in the firm.
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A federal appeals court rejected an attempt to loosen restrictions on private investment in the legal industry, dismissing arguments that ethics rules on so-called "fee splitting" impinge on lawyers' First Amendment rights.
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Advances in technology and software are being made at an increasingly rapid pace. As a result, IT hardware obsolescence cycles are shrinking too. This period of exponential improvement with which we are all now familiar has shown time and again that there will continue to be breakthroughs in technology that deliver better, less expensive, and/or more robust products. How are you equipping your firm to succeed both in the present day and into the future?
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It is fast becoming an imperative for elite firms to widen the range of their partner compensation. Too narrow a range allows competitors with wider ranges…
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The Department of the Treasury has issued final regulations addressing deferred compensation and safe harbor planning utilizing §§ 409A(d)(1), 457(e)11 and 31.3121(v)(2). These regulations set forth how plan sponsors can provide death benefits on a permissibly selective basis.
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What do you think is the secret sauce that accounts for 26% of what it takes to get promoted, according to 4,000 leaders surveyed by The Center for Talent Innovation? Whether you work in a law firm, for the government or with a corporate legal office, to get promoted, win cases, make more money, or just be more successful, your Executive Presence matters.
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Over the course of the past few months (and prior to the inauguration of President Trump), the Social Security Administration (SSA) proposed and finalized…