The Looming Associate Crisis
June 28, 2007
An associate recruitment and retention crisis is looming for which there are no easy solutions. Law schools continue to graduate roughly 40,000 students a year, as they have over the last 20 years. The AmLaw 200 law firms have been steadily hiring an average of 4%+ more associates each year, resulting last year in a typical incoming associate class of 50. That means that AmLaw 200 firms now hire about 10,000 new associates a year, or about 50% of the graduates from the top 100 (hardly the Ivy League elite) of the nation's 200 law schools.
Life Insurance and Divorce
June 28, 2007
Does your divorcing client's Statement of Net Worth reflect the fair market value of the life insurance policies he or she owns? This seems like a simple question, but in certain circumstances it may actually be quite complex.
KSR Int'l Co. v. Teleflex Inc. et al.: Supreme Court Clarifies Obviousness
June 28, 2007
Before the Supreme Court's April 30, 2007 decision in <i>KSR Int'l Co. v. Teleflex Inc. et al.</i>, 127 S.Ct. 1727 (2007) virtually all patent attorneys were on the edge of their seats. The decision was a clear indication that the Supreme Court disfavored the current state of the law that had been developed by the Federal Circuit for determining whether a patent is invalid for obviousness under 35 U.S.C. §103. The Supreme Court pointed to numerous errors in the Federal Circuit decision and characterized as 'rigid,' 'formalistic,' 'narrow,' 'constricted,' and 'flaw[ed]' the Federal Circuit's requirement that there be proof the claimed combination of elements was arrived at due to a teaching, suggestion, or motivation to combine features from prior art references. <i>Id.</i> at 1739, 1741-42. Instead, the Supreme Court imposed a more flexible approach that sought to emphasize its earlier decisions on obviousness over tests the Federal Circuit had developed to apply the law set forth in those decisions.
In the Marketplace
June 28, 2007
Highlights of the latest equipment leasing news from around the country.
Toll Road Leasing Programs: Ready to Roll?
June 28, 2007
Part One of this series discussed precedent transactions and standard terms and conditions in the toll road leasing market. The conclusion continues the discussion of terms and conditions and addresses legislative developments.
Practice Notes: Some Lawyers Find Entertainment Clients on MySpace
June 28, 2007
Many artists believe that setting up a personal page on the mega-popular MySpace.com Web site is a key prong today in attracting attention to themselves. At the same time, some entertainment attorneys use MySpace to attract clients. This article examines the experiences of Texas lawyers who have MySpace pages.
Supreme Court Considers Price Fixing Agreements
June 28, 2007
Franchisors and franchisees alike are awaiting a decision from the U.S. Supreme Court that could change the marketing and promotional practices of franchisors and distributors. In <i>PSKS, Inc. d/b/a Kay's Kloset v. Leegin Creative Leather Products, Inc.</i>, the Supreme Court heard challenges to the application of the per se rule to vertical minimum price fixing agreements under antitrust law, and some commentators believe that the Court will overturn this requirement, which was adopted almost a century ago in <i>Dr. Miles Medical Co. v. John D. Park & Sons Co.</i>, 220 U.S. 373 (1911).
Inside the Booming Private Equity Market: Experts Share Experiences at IFA Legal Symposium
June 28, 2007
Private equity investors eager to purchase franchise operations have brought a new dimension to franchising in the past few years and have the potential to keep franchising invigorated in the future. A panel discussion at the International Franchise Association's Legal Symposium in May explored the motivations of sellers and buyers in private equity deals and the role that legal counsel plays in getting deals done.
Supreme Court Establishes New Standards for Buying Practices
June 28, 2007
Since the 2003-2004 term, the Supreme Court has heard a surprising number of antitrust cases ' nine in all ' reflecting its increasing interest in, and willingness to address, questions that significantly impact the business community. Equally remarkable is the array of issues the Court has addressed in these cases. In the past three years, the Court has heard cases concerning issues ranging from a unilateral refusal to deal with rivals, to pricing decisions by joint ventures to claims of tying involving a patented product. one opinion has been issued so far ' the unanimous decision in <i>Weyerhaeuser Co. v. Ross-Simmons Hardwood Lumber Co.</i>, 127 S. Ct. 1069 (2007). This article discusses that opinion.
Fraud Sentence Enhanced for Abuse of Trust
June 28, 2007
The Federal Sentencing Guidelines establish factors that a court is authorized to consider in imposing a sentence upon a criminal defendant, and assign numeric values to those factors in an effort to achieve some consistency in sentencing. Though the factors mostly stay the same, their precise parameters are constantly evolving. One evolving factor is the 'abuse of trust' or 'use of special skill' enhancement, described in the Guidelines under ' 3B1.3.
