Players On the Move
June 01, 2020
A look at moves among attorneys, law firms, companies and other players in entertainment law.
Pension Plans Changes: Will Retiring Partners Shoulder the Risk?
May 01, 2020
For some firms in the Great Recession, reduced revenues combined with the overwhelming pressure from multimillion-dollar pension liabilities — a holdover from the days when pensions were simply a promise firms made to retiring partners — were too much to bear. But with the Great Recession now a decade in the past and another recession brewing, has the industry learned from its mistakes?
Personal Guaranty of Commercial Lease Held Discharged in Guarantor's Bankruptcy
May 01, 2020
As we prepare for the anticipated increase in bankruptcy filings caused by the COVID-19 pandemic's impact on the economy, many practitioners are trying to compare this to the savings and loan crisis of the late 1980s. One of the issues that keeps coming up cycle after cycle is whether a personal guaranty of a commercial lease is discharged in the bankruptcy of the individual guarantor. Court decisions have split on this issue for years.
Linking Partner Pay to Strategic Firm Objectives
April 01, 2020
In general law firms have been slower to adopt pay for performance systems. What law firms need now, and this article describes, is an approach to partner compensation that closely links a partners pay to their ability to contribute to the achievement of the firm's strategic objectives.
Law Firms Adopt a Legal Operations Perspective
March 01, 2020
Law Firms Are Following the Lead of Their Corporate Clients In Implementing Legal Operations Methodologies
By understanding legal operations approach, law firms can gain a better appreciation of client needs, share the client's vision and contribute to client satisfaction, while creating a competitive advantage for the firm.
Law Firms Adopt a Legal Operations Perspective
March 01, 2020
Law firms are clearly in important player in the legal services value stream; as the legal operations movement continues to take hold in corporate client organizations, in-house teams are looking to outside law firms to join them in their efforts to reduce operating costs, improve staffing, take greater advantage of technology, and improve project management processes.
Law Firms Adopt a Legal Operations Perspective
February 01, 2020
Law Firms Are Following the Lead of Their Corporate Clients In Implementing Legal Operations Methodologies
Legal operations as a discipline within corporate legal departments is receiving more attention, funding and staffing over the last few years.
Linking Partner Pay to Strategic Firm Objectives
February 01, 2020
Pay for performance is not a new concept in this country. The ideas and concepts underlying a graduated pay scale based on contribution and merit are deeply ingrained in our society. However, in general law firms have been slower to adopt pay for performance systems. What law firms need now, and this article describes, is an approach to partner compensation that closely links a partners pay to their ability to contribute to the achievement of the firm's strategic objectives.
