IP RIGHTS IN ATTORNEY WORK PRODUCT

“If litigation attorneys could be held liable for copyright infringement, the benefits associated with widely disseminated litigation documents would cease, and there would be a substantial loss to public welfare resulting from the higher costs of legal representation.” What is an attorney’s work product if not the combination of his or her thoughts, plans, theories, […]

NON-TRADITIONAL CLIENT COMPENSATION

“While some law firms undoubtedly invested solely because the firm recognized a promising opportunity to make money, the majority appear to have acted out of a concern related to the preservation and nurturing of the attorney-client relationship.” The notion of a lawyer taking his or her fee in the form of stock in a client’s […]

NAVIGATING THE DOWNTURN: A PRIMER FOR DIRECTORS

“In a crisis, when the stakes are high, and scrutiny is intense, the board has a unique role. Stepping in may be uncomfortable, but stepping aside is not an option.” The ‘Great Recession’ which officially ran from December 2007 until June 2009, was considered the worst U.S. (and global) economic downturn since the Great Depression. […]

LIBOR TRANSITION AND LEGALTECH

“This is a challenging undertaking, particularly in relation to “tough legacy” transactions, with thousands of contracts requiring re-papering. This requires the review and redrafting of multiple documents, a process which is both time intensive and expensive.” December 31, 2021, was a historic date for global banking, for, on that date, the venerable London Interbank Offered […]

THE COLLAPSE OF FTX—AND THE ENSUING LEGAL FALLOUT 

“Everyone’s learning crypto bankruptcy right now, and I think there’s a lot of work that will be there for how to deal with crypto bankruptcy.” Long after the dust has settled over the sudden collapse of FTX—which was, up until their November 2022 bankruptcy filing, the world’s second-largest cryptocurrency exchange—business schools will be studying just […]

RUNNING THE FULLY REMOTE LAW FIRM

”The legal profession is a profession of giving confidence to clients. Those things do well with physical meetings and physical contact. I feel that clients will still need hand-holding.” The COVID-19 pandemic created a paradigm shift in the way law office workers relate to their work. Although such devices as flextime and other alternative shift […]

THE ETHICS AND PRACTICALITIES OF CONTINGENCY FEES

‘Contingent fee contracts are the basic means by which much litigation in tort is conducted in this State. Such agreements are the poor man’s key to the courthouse door; they enable persons who cannot afford to retain an attorney on an hourly or fixed-rate basis to pursue their claims with competent counsel.’ Doesn’t every professional […]

CONTRACT ATTORNEYS—AND THE PSYCHOLOGY OF PERMANENT HIRE

“We just hired people as temps, and then we would evaluate them over the first few months and convert the most successful of them to full time. It was a great way to scale in those very early days when we needed a lot of work done very quickly. It also got us to hire […]

ROBOT LAWYERS—TAKING A BYTE OUT OF BILLABLE HOURS

A young lawyer dies and goes to Heaven. He tells St. Peter: ‘There must be some mistake! I’m only 35!’ The angel looks at his records and responds: ‘according to your billed hours, you’re at least 85!’ It’s not clear what will happen to classic lawyer jokes if human lawyers really get replaced by robot […]

SEC PROBE DEMANDS PERSONAL MOBILE DEVICES

“As technology changes, it’s even more important that registrants ensure that their communications are appropriately recorded and are not conducted outside of official channels in order to avoid market oversight.” You probably thought your WhatsApp and other text messages were safe from the government’s prying eyes. If you work in the Wall Street financial sector, […]