Get a (Law) Firm Grip on Data Breaches
Law firms are as much at risk for cyber attacks as any other industry. Because of the lack of reporting requirements in the industry, it is unclear how many breaches have actually occurred. Fortunately, law firms are now recognizing the risk and beginning to take preventive action. This article describes some of the reasons law firms are cyber-attack targets, steps they can take to reduce their risk, and what clients are doing to encourage law firms in those efforts.
Avoid Drowning in Data
Data is a rich source for evidence in litigation and, for many companies, a valuable asset. What is less apparent, however, is exactly how to properly manage information and its privacy and security. However, over the past several decades, best practices have been developed for establishing and managing a comprehensive privacy, data protection and information governance program. This article summarizes those learnings to suggest an approach for how to design and run a program that is right for your company.
Crackdown on Offshore Tax Evasion Not Slowing Down
The DOJ Tax Division and the IRS have been ramping up an intense crackdown on offshore tax evasion, and the IRS's reduced resources due to new budget cuts is having no effect on IRS enforcement initiatives in this area.
How to Successfully Integrate Lateral Partners
There are two ways lateral partner recruiting can grow the revenues of a law firm. The first is through the acquisition of additional client relationships brought to the firm by the lateral partner. The second is the added work generated by the lateral partner serving more of the legal needs of the firm's existing clientele.
Beware: Not All Communications Between Court-Appointed Bankruptcy Professionals Are Privileged
A successful Chapter 11 representation requires a close working relationship between the client's attorneys and non-attorney professionals, and the latter are generally kept fully abreast of the attorney's strategies on behalf of their common client. But where a communication otherwise protected by the attorney-client privilege is disclosed to, or made in the presence of a third party, the communication may no longer be, or deemed never to have been considered privileged.
Financial Services Lawyers Cheer Quicken Loans' Lawsuit
A legal challenge by Quicken Loans Inc. to the U.S. government's aggressive scrutiny of its FHA mortgage loans reflects widespread industry unease with government investigation of lenders, financial-services lawyers said.
Brokerage Windows in Retirement Plans
On Aug. 21, 2014, the DOL published a request for information (RFI) regarding the use of so-called "brokerage windows" under retirement plans. The RFI is one of the more recent developments surrounding what has become an increasingly controversial topic regarding the investment of Section 401(k) and other participant-direct retirement plans.
The LPM Maturity Model
Unless you are deaf to the present realities in today's legal marketplace, you now hear the steady drumbeat of client-focused legal service delivery: a persistent rhythm driving you toward Legal Project Management (LPM). Clients are insisting that firms price and deliver services that fit their tolerance for risk, produce excellent results and keep the work within budget ' all in the most efficient manner.
Avoid Drowning in Data
In the era of almost daily news accounts of data security breaches, the legal and business imperative for data and data system protection needs no explanation. What is less apparent, however, is exactly how to properly manage information and its privacy and security. This article suggests an approach for how to design and run a program that is right for your company.
Connecting the Legal and Tax Departments
Now that the personal tax return deadline has passed, it might be a good time to consider your company's tax needs. Counsel at a Fortune 500 company recently told a colleague of ours that all of their tax matters are handled entirely outside of the legal department. This arrangement is not good. Corporate counsel and accountants must work together to bring the full measure of the company's resources to bear on tax-related issues.
