Recent Developments in Executive Compensation
March 02, 2004
Although executive compensation has been the subject of evolving reform for several years, the bright spotlight of public attention is now focused on this issue, due in part to the bursting of the stock market bubble, the collapse of Enron, and a number of other highly publicized corporate scandals. The image of executives enjoying excessive compensation packages as revenues and earnings decline, and stock values of the companies they manage plummet, is a dangerously common stereotype.
Internal Control Reports: The Next New Thing
March 02, 2004
Many public companies have already begun to prepare for compliance with Section 404 of the Sarbanes-Oxley Act of 2002 (the Act). Management and directors may not be clear on the framework for Section 404. Although Section 404 does not require disclosure in Annual Reports for the calendar year-end 2003, requisite lead times suggest that by now companies must be working diligently on compliance planning.
What Are the Odds?
March 02, 2004
28 U.S.C. ' 157(d) contains the standards for mandatory or permissive withdrawal of the reference from the Bankruptcy Court to the District Court, which…
Assimilating Lawyers
March 01, 2004
w firms are growing again through laterals and associate hires, but many of the laterals are creating "pods" which bring unique processes for delivering legal services, to the detriment of using the best experience in the firm and superior client service. While this is happening, there are major changes coming to the profession that will challenge the ability of the lawyers to train and transform young lawyers into strong contributors to the clients and the firm. At the same time, client loyalty is decreasing. When Ralph Nader wrote his book, "Unsafe at Any Speed," GM responded with denial. Now, lawyers are in denial as we focus on the changes required in the profession to simultaneously increase profits, lower legal costs to clients, and improve the quality of service. This article is provided to help lawyers overcome the old culture hurdle and get to higher profits and stronger client loyalty.
China's IP Is Not Entirely Out of the Haze Yet
March 01, 2004
When China first bid for WTO membership, its intellectual property-related laws were one of the main obstacles to its joining the organization, as WTO membership required China to comply with the Agreement on Trade-Related Intellectual Property Rights (TRIPS). In its WTO accession documents, China declared its commitment to bringing its legal system in conformity with the TRIPS Agreement. Since then, China has come a long way. Nevertheless, not all problems have been resolved.
The Keys to Keyword Advertising
March 01, 2004
Until recently, courts have had relatively little to say about the practice of keyword advertising — <i>ie</i>, triggering Internet advertisements to appear when users search for a keyword identical to a competitor's trademark. Practitioners could look only to a single decision denying Playboy Enterprises, Inc.'s ("PEI") motion for a preliminary injunction against Netscape Communications Corp. ("Netscape") and Excite, Inc. ("Excite"). Now, four courts have recently issued decisions reaching starkly different results on keyword advertising practices, including a Ninth Circuit decision reversing summary judgment that had been entered against PEI in its litigation with Netscape and Excite. While much remains to be resolved, certain factors have been particularly influential.
The Suburban Law Firm: A New Species?
March 01, 2004
Over the last 10 years, I have attended a number of leadership, management and other seminars pertaining to the direction that law firms must take in order to be successful in the 21st century. What ensued was years of frustration. I never felt like our firm fit into any of the categories of law firms that would prosper in the ever-changing legal environment. We weren't a national, regional or international law firm. We weren't a boutique. Yet each year our firm grew both in size and financially. In 2003, our profits-per-equity-member reached $425,000. We are competitive economically with the large law firms, yet we are having more fun.
If It Ain't Lawyering, It Must be Marketing
March 01, 2004
Few jobs in the world are more rewarding than the role of a marketing professional at a law firm. Where else can someone talk to the greatest legal minds, reporters from the Wall Street Journal and the General Counsel of a Fortune 500 company in one day? Add to this the situation where the concept of marketing is changing almost on a daily basis, and you have a dream position for a talented, visionary marketing guru. However, as any in-house veteran will tell you, some aspects of the actual job were not specifically mentioned in the job description. Professionals strongly lobby for grandiose titles such as Chief Marketing Officer or Global Director of Business Development when they first enter their firm. It looks great on a business card. It also really impresses people at your next high school reunion and can compensate for the extra 20 pounds you might be carrying since people last saw you on prom night.
