Recent data reveals that Latin America is the fastest-growing emerging market for Am Law 200 firms. The reason for U.S. firms' growing interest in the region is clear: Many Latin American economies boast above-average GDP growth and strong economic ties to the U.S. and Europe.
Legal Project Management has seen an explosion of interest from the legal industry in recent years. It has been touted as the key to efficient legal work and a cure-all for the woes of fixed fees, fee caps, and lawyers who blow budgets. But there are drawbacks.
A $3.5 billion asset forfeiture case that the DOJ brought in July grabbed the public's attention for the alleged purchases involved: a luxury jet, a Beverly Hills mansion, Las Vegas casino junkets and a stake in the Leonardo DiCaprio movie The Wolf of Wall Street. But for experts in how law firms handle client funds, another detail in the case may merit special scrutiny.
Law firm CI, in practice, can have a powerful impact even if it is not being used to improve management decisions. Despite criticisms, here is why it works.
While most firms like to consider clients to be those of the firm and not of any particular attorney within the firm, it is generally acknowledged that specific attorneys are responsible for developing, nurturing and maintaining the firm's relationship with each of its clients. This article describes a common procedure that may act as a guide to transitioning clients during a partner's pre-retirement years.
In 2016, according to ALM Legal Intelligence's list of the top 100 highest paid general counsel at major corporations, two of the top five hail from the entertainment industry. This continues a trend over the last four years whereby entertainment industry general counsel have found themselves at or near the top of the list when examined by multiple measures.
As evidenced by a recent Pennsylvania Superior Court ruling invalidating an alleged fee-splitting arrangement between a law firm and an outside consultant, questions about the proper way for attorneys to pay nonlawyers who help generate business still arise frequently.
The pace and scope of change wealth managers are experiencing is unprecedented and is showing no signs of slowing down. In fact, change is accelerating rapidly.
Teams that improve their ability and frequency of giving both positive and constructive feedback can rapidly improve their performance, trust level and learning speed because they are focusing their energy on improving together rather than being defensive, blaming others and protecting their turf.
Over the past two years, the author has been involved in three merger situations and iscurrently working on two more. He has worked closely with the managing partners and committees of these firms and has come away with the six factors that he believes determine the success or failure of law firm merger discussions.
