FTC Approves 'Merger to Monopoly' in Innovation Market
February 10, 2004
The intersection of intellectual property and antitrust has been the subject of much fanfare over the past decade. The antitrust agencies have held numerous workshops where enforcement officials and practitioners have debated the scope and limitations of antitrust when such principles intersect with IP rights. The most notable work product generated as a result of this focus has been the 1995 Guidelines setting forth antitrust policy for the Licensing of Intellectual Property issued by the Department of Justice (DOJ) and the Federal Trade Commission (FTC).
Same-Sex Spouses in MA: The Effect on Employee Benefits
February 01, 2004
The news lately has been filled with stories about the Massachusetts Supreme Judicial Court's ruling that a law banning same-sex marriages is unconstitutional. The ruling has a 180-day delayed effective date. Employers should begin to examine their benefit programs, as well as their policies and procedures, to determine what impact this ruling may have on their employee benefit plans.
Keys to Good Presentations: 15 Rules for Getting Asked Back
January 01, 2004
One of the great keys to business development is the old adage, "Write, speak, sell." If you have figured out how to get into the media often enough to be perceived by your target audiences as an expert, then you will invariably be asked to speak at their conferences and meetings. This is your chance to develop personal relationships that lead to trust and, subsequently, new business. If audiences enjoy a speech, they are far more likely to want to create a relationship with you afterward. From such relationships flow the best business development opportunities. Unfortunately, most speakers, no matter how professionally qualified, focus on the substance and forget about the entertainment value of presentations.
The Early Warning Signals of a Potential Media Crisis
January 01, 2004
Sixty-two percent of Americans equate "no comment" with "we're guilty", and the numbers have only gone up since Enron. A legal media strategy based on "no comment" is increasingly likely to lead to danger. An increasingly sensitive legal profession is confronting the same challenge on an almost daily basis: "I understand I need to be more vigilant about helping my client, and my own firm, navigate the landmines of high-profile cases. I know I need the skills to work with media professionals once the case goes public, but is there anything I can do before a problem gets dumped on my lap? How do I recognize the early warning signs of a potential crisis now, not when the reporters start calling?"
Containing Health Insurance Cost Increases
December 01, 2003
There's no relief in sight from rising health-care costs. Hewitt Associates, of Lincolnshire, IL, projects that health care costs will increase 15.4% this year, following an average rate hike last year of 13.7%. If this trend continues, Hewitt estimates, health coverage cost will double over the next 5 years. Law firms coast-to-coast therefore continue to search for their own magic bullets. While doing so, however, they're being careful not to shoot themselves in the foot. Firms see a strong benefits package as critical to retaining and recruiting employees, and therefore take a largely conservative approach to managing health-care costs - trying to maintain generous levels of coverage while minimizing the financial blow to employees.
Selling a Law Practice: Prospects and Pitfalls
November 01, 2003
Large firms have long had well-defined methods for transferring ownership interests in a practice via "mergers," "retirements," "breakups," etc. Attorneys in larger firms have also always had mechanisms in place that provided them and their heirs with funding for the value of their individual interests in the firm. By contrast, the outright "sale" of a law practice from one attorney to another was prohibited for decades. In 1991, however, the ABA dropped its opposition. California had already permitted such sales since 1989, and more states have now followed suit; so the mechanisms for selling a practice have been developing, albeit slowly. These changes are economically vital for small-firm and sole practitioners. Many of these attorneys tend to conclude their law practice without any transfer of ownership, by just closing their office doors one day and never returning. By doing so, an attorney forgoes "cashing in" on a valuable asset that has taken many years to build. That no longer has to happen. Like their counterparts in large firms, sole and small-firm practitioners ' and their heirs ' can now reap the rewards of years of effort. This levels the economic playing field for retirement and estate planning.
Strategies to Enhance Cash Flow
November 01, 2003
Managing partners, financial partners, members of executive committees and administrators must devote more of their time today than in the past, to planning and managing their firms' finances and those functions that improve the cash flow. This article describes six aspects of law firm management and economics that the author has recommended to managing partners, financial partners, members of management committees and law firm administrators to assist them improve their firm's cash flow. These factors include: 1) cash flow; 2) a business plan; 3) budgets for revenues, expenses and client advances; 4) partner compensation; 5) a recommended new business and billing committee; and 6) partners' capital and borrowing.
Court-Imposed Waiver of the Joint-Defense Privilege
November 01, 2003
Most defense attorneys enter into joint-defense agreements with the understanding that even if one of the signatories decides to withdraw from the agreement and cooperate with the government, the confidentiality provisions survive. Two recent decisions ' by the Eleventh Circuit and the Northern District of California ' have called provisions like these into question: <i>United States v. Almeida</i>, 341 F.3d 1318 (11th Cir. 2003); and <i>United States v. Stepney</i>, 246 F. Supp.2d 1069 (N.D. Cal. 2003). Any defense attorney who is considering entering into such an agreement should think twice &emdash; especially if some party may choose, down the road, to cooperate with the government.
Federal Civil Justice Reform in the 108th Congress: An Analysis of the Criteria for Legislative Action
October 07, 2003
Tort reform has been heavily discussed and debated over the last twenty years. Any reform will have an impact on product liability litigation. If one looks over the past two decades, three criteria suggest what initiatives might be successful for federal civil justice reform in 2003. First, there has to be a real problem; second, a clear need for federal action; and third, a fair bill that is in the interests of the public and not a mere bailout for wrongdoers.
