The Uncertain Tax Status of Series LLCs
October 29, 2007
The Internal Revenue Service has not weighed in on the proper tax classification of series LLCs. Accordingly, lawyers recommending this new form of entity to clients or considering a series LLC for an ancillary business of the law firm or other purpose should proceed with caution.
Selling Your e-Commerce Company For Private Equity Money
October 29, 2007
Entrepreneurs have traditionally dreamed of creating family businesses that would last for generations. Certainly, everyone has seen the stickers and other marketing testifying to a firm's and its founding family's decades of service, and their stability and track record. But in today's constantly changing e-commerce world, a business often must reinvent itself several times in one generation, much less plan to last for several.
Harnessing Creativity or Creating Liability?
October 29, 2007
The growth of online social networking has not been lost on marketers, who hope to enlist Internet users in campaigns to promote their products and services. This article will appear in three installments. This first part examines the use of user-generated content ('UGC') and user participation as part of a promotion.
Detailed Billing
September 28, 2007
Today's bills are as thick as case files, and at least as detailed. Concerned over what lawyers are doing with their time and who's working on a matter ' whether to track diversity or to keep expensive but inexperienced first-year associates off the case ' clients demand exhaustive accounting from their outside counsel.
Five Easy Steps To Help New Associates Put Their Best Foot Forward
September 28, 2007
Before beginning any new venture, family and friends frequently caution that 'starting something new is never easy.' This phrase is particularly true for law school graduates seeking to embark on the next phase of their careers. While some are transitioning out of one industry and into the legal field, others are entering the work force for the very first time. Understanding this phenomenon, many firms have developed Orientation/Integration programs to ease the transition from law student to practicing attorney.
HELP! Communicating During a Crisis
September 28, 2007
Part One of this series set forth tips for handling a crisis that will resolve in a timely manner and will not be the downfall of a firm. This month's installment addresses clients in crisis.
When Women Lateral
September 28, 2007
In the summer of 2006, Major, Lindsey & Africa, the international legal search/recruiting firm where I am a partner, sent a survey to 5622 lateral partners in 647 law firms to assess their overall satisfaction and to identify the key factors affecting satisfaction; the firm received more than 1000 responses. Women comprised approximately 17% of the original pool of targeted candidates and 15% of the respondents who identified themselves by gender. This percentage is low primarily due to the lack of women partners.
Engagement Letters
September 28, 2007
Engagement letters in the big law firm are like death, taxes, and timesheets. You can't live with them. You can't live without them. On the one hand, while many practitioners may not realize it, engagement letters are part of the attorney-client contract that defines the relationship between the parties. This article identifies the general ground rules regarding engagement letters, the bells and whistles that such letters can contain for the good of the law firm, and the problems that can arise when lawyers don't pay attention to or fail to follow to the letters.
News Briefs
September 27, 2007
Highlights of the latest franchising news from around the country.
Court Watch
September 27, 2007
Highlights of the latest franchising cases from around the country.
