Andrews Kurth LLP's decision to join forces with struggling intellectual property boutique Kenyon & Kenyon LLP follows a flurry of recent combinations of large firms and IP boutiques, a trend that experts say reflects the demand of BigLaw for a slice of the lucrative IP pie.
Revenues for 130 mid- to large-size law firms have risen nearly 3.5 percent on average so far this year, according to a report from a Wells Fargo division obtained by Law360 on Thursday, but that increase stems from a few firms that outperformed their peers, mainly by increasing hourly rates.
In the world of BigLaw, associates who bill the most hours are often the ones that rake in the biggest bonuses. Here, find out how to log a bevy of hours this year in order to secure a whopping windfall.
Looking to ease the pain of partner exits and head off client losses, a small but growing cohort of BigLaw firms are putting more financial teeth into their partnership agreements, tying an obligatory resignation notice period and other requirements directly to a departing partner’s capital buy-in, experts said.
This sister of a longtime Vedder Price PC office manager charged with running an elaborate embezzlement scheme that drained more than $7 million from firm coffers pled guilty to theft and was sentenced to nearly a year in jail, according to Illinois state court officials.
While it's a worthwhile endeavor to try to tease out the common qualities of admired law firm leaders, reliable templates remain elusive because if there's one thing great leaders can be counted on to do, it’s break the mold. Here, attorneys and law firm leaders share their thoughts about the qualities of leaders who inspire greatness.
The way I look at it, you’re never really making a pitch. You are entering into a potential relationship. Credibility is king. You must be in command of the facts of that client’s particular situation and in command of the law that’s going to govern that client’s issue, says Patrick McNicholas, a partner with McNicholas & McNicholas LLP.
The use of mini-juries alongside elected judges during pretrial decisions would provide a much-needed method of monitoring a system biased toward judicial campaign donors and decisions that favor judges' re-election, a new paper published by the Social Science Research Network says.
The Association of Corporate Counsel is pushing the D.C. Court of Appeals to remove certain restrictions on the pro-bono work of in-house attorneys, arguing they are unnecessary and only serve to limit the amount of pro bono work done by lawyers.
The “vast extent” of Quinn Emanuel Urquhart & Sullivan LLP’s improper disclosures of a confidential expert report and breaches to a protective order in a smartphone patent and trade battle between Apple Inc. and Samsung Electronics Co. call for an official reprimand, the International Trade Commission said Tuesday.
I read far too many attorney biographies in my practice that convey the same thing, an “expertise” in everything. But that makes it challenging for an aspiring rainmaker to differentiate herself to clients and prospects. Expertise naturally leads to a certain level of confidence, and confidence makes it easier to go after the work, says Sarah Pierce Wimberly, leader of the airline employment practice at FordHarrison LLP.
Jacobson Holman PLLC, an intellectual property litigation boutique in Washington, D.C., and a former equity partner have settled their dispute over the proper value of his equity stake, according to court filings in the Fourth Circuit.
Judges presiding over multidistrict litigation should elicit information and provide plenty of guidance to allow parties to determine the adequacy of settlement agreements, according to a research paper posted online Friday.
Rejection is always difficult for anyone to take, but it is inevitable for almost anyone who is in private practice. The key is to always handle rejection with grace and maintain lines of communication. Always keep a long-term view of your relationships with potential clients, says Gary Winuk, a managing attorney at Kaufman Legal Group.
The number of startups with an eye toward the legal industry has grown rapidly in the last five years, and those companies many have an opportunity to fulfill a multibillion-dollar need for legal services in the U.S. that is not being met by law firms, according to a legal scholar.
For law firms, welcoming lateral partners ideally means boosts in business, but if firms aren't careful about who they choose to bring on, it can instead mean wasted time, effort and money. Here, legal industry experts share three red flags that should make firms question potential lateral hires' caliber.
Andrews Kurth LLP has snapped up the attorneys who remained at struggling intellectual property boutique Kenyon & Kenyon LLP, the firm said Monday, in a deal that brings 55 additional intellectual property attorneys into the fold of the Houston-based international law firm.
The challenge is to not rest on the success of your last matter. If you wake up feeling complacent, you’re headed in the wrong direction. To remain a rainmaker, you must continually find ways to innovate, says Irwin Kishner, chairman of Herrick Feinstein LLP's executive committee.
It turns out lawyers are, on average, less suited for leadership roles than other professionals in two key ways, new research indicates.
For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.
Like a top ballplayer who's confident in his bat speed but neglects newer methods to improve his swing, a leading law firm can be behind the curve when it comes to the latest technology and business models. Here, experts share five things many firms have yet to catch up on.
BigLaw is prospering on the back of rate increases, a U.S. Supreme Court review of class waivers looks inevitable as a circuit split deepens, and the DOL issues its final Fair Pay and Safe Workplaces rule. Those stories top the corporate legal news you may have missed last week.
A recent Sixth Circuit decision backing the right of Kentucky judicial candidates to promote their party affiliation is the latest to push states with traditionally nonpartisan election systems closer toward campaigns clearly divided between red and blue candidates, experts say, potentially discarding a key barrier between elected judges and traditional politics.
Ninety-five percent of most client pitch meetings are personal discussions, sharing life stories. Rarely do they delve into hypotheticals on how you would handle a particular transaction, says Andrew Kirsh, founding partner at Sklar Kirsh LLP.
A recent Law360 guest article asks whether by signing a mediation confidentiality agreement a lawyer surrenders the power to protect his client against inappropriate mediation conduct. The short response to this concern is that parties to a mediation should refuse to execute such an agreement that removes all future recourse against the mediator, no matter how egregious the mediator’s actions, says William Ruskin of Gordon Rees Scu... (continued)
As technology has advanced, the ways in which attorneys communicate with clients, potential clients, former clients and the public has created new and ill-defined issues relating to whether an attorney-client relationship exists. Attorneys Elizabeth Fitch and Theodore Schaer discuss the often nebulous yet hazardous concepts that could lead to malpractice issues.
By understanding four common reasons why law firm business development initiatives fail, we can more accurately define success, avoid pitfalls, and improve return on investment, says Adam Donovan, senior manager of patent business strategy at Fish & Richardson PC.
Although the "last-antecedent canon" and the "series-qualifier canon" may sound like neutral grammatical principles, they carry different weights and are applied differently depending on the court. Ashley Johnson and Will Thompson of Gibson Dunn & Crutcher LLP explore two fundamentally different approaches by the Texas Supreme Court and U.S. Supreme Court.
Highly successful attorneys who are thinking about leaving the safe haven of a large law firm to go out on their own face a number of issues specific to the legal profession. Russell Shinsky, chairman of Anchin Block & Anchin LLP's law firms industry group, shares four pillars of a successful startup law firm.
The court of public opinion can mete out judgments as harsh as those rendered by a court of law, which is why communications professionals and attorneys should be working together to protect their clients’ reputation and advance their legal objectives as litigation proceeds, as well as when decisions or settlements are reached, say Michael Gross and Walter Montgomery at Finsbury.
Often, the lead counsel in a case maintains sole contact with the client and makes substantive decisions, relying upon the local counsel only to serve in the requisite capacity to satisfy jurisdictional procedures. Therein lies the problem — absent appropriate precautionary measures, the local attorney faces equal malpractice exposure for the substantive, strategic decisions of the lead counsel, say Patrick (Sean) Ginty of CNA Glob... (continued)
There are several risks involved with signing a "standard" mediation confidentiality agreement, both to your clients and to yourself. Once you recognize these risks, you will never sign a standard MCA again, at least not without a lot of thought and a lot of disclosures to your client, says Jeff Kichaven of Jeff Kichaven Commercial Mediation.
As advances in technology continue to push law libraries in a more complex direction, many law firms are still making structural mistakes. Fahad Zaidi, senior consultant at HBR Consulting, notes five common pitfalls that law firms should be wary of when developing their libraries.
I worry too many law students see the priorities of BigLaw in tension with a meaningful commitment to pro bono work, making them reluctant to ask questions in interviews about pro bono opportunities and a firm’s commitment to its community. This needs to change, says Skadden partner and former White House legal adviser Michael Scudder.