Business of Law

  • May 30, 2008

    Lawyers Fear Layoffs

    Struck by a declining demand for legal work in structured finance, real estate development, private equity and even bankruptcy, some of the country's most prominent firms have resorted to laying off attorneys and staff.

  • May 13, 2008

    De-Equitizing Partners May Not Boost Profits: Experts

    The top 100 U.S. law firms in gross revenue reported record-high profits per partner in 2007, but a smaller percentage of partners reaped the benefits of this growth. Legal industry experts are conflicted over whether trends leading to the decline, such as implementing tiered systems and de-equitizing partners, will ultimately benefit firms.

  • May 19, 2008

    Economic Woes Spell End of Associate Pay Hikes

    Over the past few years, salaries for first-year associates at the country's top law firms have skyrocketed, as law firms flush with profits jockeyed for position, prestige, and top new talent. But the strain on the broader economy in 2008 may finally spell the end of pay hikes for law firms' most inexperienced associates, at least for now, experts say.

  • May 1, 2008

    K&L Gates Talks Merger With Charlotte Firm

    Law firms Kirkpatrick & Lockhart Preston Gates Ellis LLP and Kennedy Covington Lobdell & Hickman LLP have initiated merger talks, which, if successful, will create a 1,700-lawyer firm.

  • April 30, 2008

    Law Firm GCs Get Pay Raise In 2007: Survey

    Salaries for full time in-house general counsels at law firms in the United States has increased by almost $200,000 since 2006, according to a recent survey.

  • May 1, 2008

    Sutherland Asbill Says Layoffs Fewer Than Reported

    The managing partner of Sutherland Asbill & Brennan has confirmed rumors that the 480-lawyer firm is laying off associates but says the number of lawyers who have been handed pink slips is much less than has been reported on legal blogs.

  • April 28, 2008

    Paul Hastings Grieves Following Murder-Suicide

    Two workers at the Atlanta office of Paul, Hastings, Janofsky & Walker LLP are dead following a murder-suicide on Friday afternoon outside the skyscraper that houses the firm.

  • April 28, 2008

    Mass Exodus Sinks MoFo Orange County Office

    In the wake of a steady stream of departures, Morrison & Foerster LLP has decided to close the doors of its Orange County, Calif., office after more than two decades of service.

  • April 24, 2008

    Husch Eppenberger And Blackwell Sanders Seal Deal

    Husch & Eppenberger LLC and Blackwell Sanders LLP announced Thursday that they have sealed the deal to become Husch Blackwell Sanders LLP.

  • May 6, 2008

    Client Demands Continue To Drive Law Firm Mergers

    Legal consultants say a faltering economy is not slowing down U.S. law firm mergers, and the number of combinations is holding steady with merger activity from previous years.

  • May 2, 2008

    Legal Outsourcing Increases As Economy Stagnates

    With the U.S. economy in a tailspin, outsourcing companies say that law firms and corporations are increasingly seeking to drive down costs by turning to them for document review and other low- to mid-level legal work.

  • April 2, 2008

    Law Firm Mergers Continue Apace In 2008: Report

    Despite signs of an ailing economy, 17 new law firm mergers took place in the United States during the first quarter of this year, according to a legal management consulting firm.

  • April 2, 2008

    Latham & Watkins Tops List Of Dream Firms

    The results of a recent survey are in, and Latham & Watkins has topped the list of firms that attorneys would most like to work for.

  • April 16, 2008

    U.S. Law Firm IPOs Inevitable, Legal Scholars Say

    With Australia already allowing publicly traded law firms and the U.K. expected to follow suit, many legal experts believe it is only a matter of time before the U.S. sees its first initial public offering for a law firm.

  • March 28, 2008

    Lawyer Staffing Will Be Steady Amid Downturn: Study

    Despite a downturn in the U.S. economy, attorneys believe staffing levels at firms and corporate legal departments will stay the same or increase in the next year, according to a new survey developed by legal staffing agency Robert Half Legal.

  • April 9, 2008

    Deluge Of Firms In Dubai May Dry Up, Attorneys Say

    The number of international law firms with a presence in Dubai has taken off, with at least 10 U.S. firms and even more U.K. firms opening up offices there in the last few years alone. But many attorneys say the rapid pace of expansion is about to plateau and that not every firm will survive.

  • May 6, 2008

    Cost, Convenience Drive Rise In Asia Arbitrations

    Worried about the high cost and inconvenience of holding arbitrations in traditional centers like London and Paris, more Asian parties are staying closer to home to settle disputes, according to attorneys around the world.

  • May 14, 2008

    Falling Dollar Makes U.S. Firms More Competitive

    As the value of the dollar declines, U.S. law firms have become much more price-competitive with European and Asian firms on international deal-making work, lawyers say. But U.S. firms also may be having a slightly harder time recruiting because some foreign lawyers don't want to be paid in dollars.

  • March 25, 2008

    High Court's Arbitration Ruling Gets Mixed Reactions

    The U.S. Supreme Court’s decision on Tuesday that arbitration awards should receive limited review by courts under federal law has drawn concerns from some lawyers that the restricted scope would deter companies from arbitrating disputes while it has been touted by others as preserving the arbitration process.

  • April 3, 2008

    O'Melveny Buyout Deal May Denote A Trend

    O'Melveny & Myers LLP's recent retirement buyout package offer to partners as young as 50 years old spotlights the issue of employers' efforts to boost profits and avoid discrimination lawsuits by coaxing older workers to leave voluntarily.