Do Mergers Increase Profitability?
January 01, 2018
<b><i>The Numbers Say Yes, But Not for the Reasons Many May Think</b></i><p>Conventional wisdom has it that mergers enhance profitability through increased revenues and reduced costs. However, the numbers contradict this view: post-merger revenues are lower relative to competitor firms than are the sum of the predecessor firms' revenues, and costs per lawyer increase markedly.
Employee Claims in Bankruptcy Pose Significant Liability Exposure
January 01, 2018
<b><i>Lessons Learned From </i>In re FPMI Solutions Inc.</b><p>There are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws. This article discusses the requirements and how to meet them.
Litigation Funding Changes Legal Landscape for Boutique and Small Firms
January 01, 2018
<b><i>The Growth of Third-Party Litigation Funding Has Been a Boon to Small Firms, But Boutique Firms Are Taking a Hit</b></i><p>The growth of litigation funding has widened the pool of law firms that can take on big cases, but their increasing popularity means boutique firms that have traditionally landed multimillion-dollar lawsuits by taking them on contingency or offering alternative fee arrangements are now taking a hit.
Employee Claims in Bankruptcy Pose Significant Liability Exposure
January 01, 2018
When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.
FATCA Revamp
January 01, 2018
<b><i>Will Your Company Be Prepared?</b></i><p>FATCA is an effort by the United States to curb tax evasion and incentivize Foreign Financial Institutions (FFI) to report the overseas assets of U.S. persons. The U.S. encourages compliance by imposing a 30% withholding penalty on all U.S. source income and sale proceeds of non-compliant foreign financial institutions.
Teaching an Old Dog New Tricks: Business Process Management and Law Firms
December 01, 2017
Though traditionally considered laggards when adopting new technology, law firms have recently started to explore new tricks to fortify performance across their organizations. While this evolution is critical to a firm's survival, it's important that firm administrators understand that substantive improvements are only possible through multi-directional change.
Employee Claims in Bankruptcy Pose Significant Liability Exposure
December 01, 2017
<b><i>Lessons Learned From In Re FPMI Solutions Inc.</i></b><p>When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.
Can Millennials Save Your Law Firm?
December 01, 2017
<b><i>After Years of Complacency About Their Business Model and the Pipeline for Talent, There's a Reason Law Firms Are So Worried About Managing the Millennial Generation</b></i><p>For law firms wringing their hands about how to manage the millennial generation — or asking why they should adapt to this crop of young lawyers in the first place — here's the bad news: If you're still clinging to traditional models for training associates and running the partnership, you've already fallen behind. The millennials are here, they're climbing the ranks, and they've already begun to transform the industry.
How Many Excess Partners Does Your Firm Have?
December 01, 2017
It is widely recognized that Big Law has surplus partner capacity. What is less well recognized is just how massive this surplus has become, how unevenly it is spread across firms in different profitability cohorts, and what it portends for when the next downturn hits.
