Increasing Competition in China Causes Friction for Law Firms
July 31, 2006
To U.S. lawyers, Becky Xia's career move may not make much sense. <br>Earlier this year, the 27-year-old Chinese immigration lawyer leapt at the chance to join Littler Global, even though ' technically speaking ' doing so meant she could no longer practice law.
Doing Business in China via the Cayman Islands (2006 Update)
July 31, 2006
Many companies doing business in China are using a structure that includes a company formed under the laws of the Cayman Islands (CI). Chinese technology and Internet companies listed on NASDAQ ' such as Actions Semiconductor, Baidu, CTrip, China Medical Technologies, Focus Media, Shanda, Suntech Power and Tom Online ' are actually CI companies. The primary business reasons for an offshore structure are flexibility in an exit strategy, whether in connection with an initial public offering (IPO) or an acquisition; the possibility of reducing U.S. taxes; and reducing the impact of China's currency exchange restrictions.
Compliance Programs for Private Companies
July 31, 2006
We all know that a proactive Securities Exchange Commission (SEC), combined with implementation of the Sarbanes-Oxley Act of 2002 (SOX), and activation of the Public Company Auditor Oversight Board (PCAOB), has triggered intense scrutiny on corporate ethics and accountability. One by-product of this is that the public company has come to serve as a mentor of sorts to the private company in the arena of corporate compliance programs, offering certain 'best practices' that may also be useful to the privately held company, its management, and its shareholders or owners.
The Bad News: You Have a 401(k) Plan
July 31, 2006
This article is intended by the author to comprise Part Four of Four in a series on lawyer retirement planning. Parts One and Two, 'What In the World Is Going on with Lawyer Retirement Planning?' were published in the November and December 2005 issues of LFP&B. Part Three, last month, examined the history of the 401(k) and why there are problems with the popular retirement vehicle. In this part, we find out how to make things better.
Checklist for a New Partner; or, the 12 Most Important Things for a New Partner to Do
July 31, 2006
The late Supreme Court Justice Harry Blackmun once said: 'A wedding is an event; a marriage is an achievement.' Much the same could be said about the attainment of ownership in your professional practice. Your ascension is an event; partnership is an achievement. And so the analogy goes that a law firm partnership is much like a marriage, and a breakup much like a divorce. Life repeats itself in business. But as newly minted partners settle into their new roles, this article provides guidance (some serious, some lighthearted) to begin what I hope will be a long and satisfying achievement ' a partnership. Congratulations.
Net News
July 31, 2006
Kazaa to Pay $100 Million In Settlement<br>Congress Passes Bill Limiting Online Wagering <br>Web Wagering Faces Clampdown with Major Arrest<br>Music Industry Prepares Lawsuit against Yahoo China
Cases of Note
July 31, 2006
Eleventh Circuit Sides with Amazon.com in Right of Publicity Suit<br>Ninth Circuit Finds No Purposeful Availment to Effect Personal Jurisdiction<br>U.S. District Court Denies Cybersquatting Injunction
Lawyer-Bloggers: Fact or Fiction?
July 31, 2006
These days, it seems like everyone has a blog. You can start one with almost no overhead, and the online publishing possibilities seem endless ' and yet most lawyers still don't blog.
New Kinds of e-Commerce
July 31, 2006
As more people live in the virtual world ' sometimes also called the digital or synthetic world ' in one of the many so-called massively multiplayer online role-playing games (MMPORGs) available online, the potential for monetary abuse and malfeasance grows.
