Business of Law

  • February 5, 2009

    Opportunity Knocks For White Collar, IP, M&A Laterals

    The U.S. legal market has entered a new age of “lawyer mobility,” with attorneys in high-profile, lucrative practices typically moving to more profitable firms, according to a report of an ongoing study conducted by the American Bar Foundation's Law Firms Working Group.

  • February 5, 2009

    Law Firm GC Appointments On The Rise: Study

    More law firms are appointing general counsel, and firm managers are taking on corporate titles and responsibilities as part of a trend toward professional, centralized management, according to the first stage of a report of an ongoing study conducted by the American Bar Foundation's Law Firms Working Group.

  • February 11, 2009

    Downturn Batters Financial In-House Attorneys

    Salary cuts and layoffs abound as law firms and businesses face the doom and gloom of the economic downturn, but consultants said one sector has been hit especially hard – the corporate legal departments of financial services companies.

  • February 4, 2009

    Firms To Follow Dewey, Consolidate Offices: Experts

    Dewey & LeBoeuf LLP has decided to transfer all attorneys and staff from its San Francisco office to its nearby Silicon Valley office, a consolidation move that other law firms are likely to emulate as a way to trim operating costs, experts say.

  • February 4, 2009

    Even Partners Face Ax As Law Firms Cut Deeper

    Layoffs at law firms are spreading to the partner ranks, as a recent announcement by Clifford Chance LLP shows, indicating that seniority is now taking a back seat to harsh economic realities, even for the biggest fish in the legal pond.

  • February 3, 2009

    60 Attorneys, 89 Staff Cut At McDermott

    January saw about 20 top firms lay off lawyers and other employees, and February has gotten off to an equally grim start with Tuesday's announcement that McDermott Will & Emery is cutting 60 attorneys and 89 staff members.

  • February 3, 2009

    NJ Case Could Test Limits Of 'Partner Poaching'

    In a New Jersey case with possible national implications, a boutique is asking a state court for $42 million in damages following the alleged destruction of the smaller firm by a large national firm's "partner poaching."

  • February 2, 2009

    Recession May Give Law Firms Chance For Change

    The recession will likely eat away at law firms' profit margins and keep client demand low through 2009, a new report from Citi Private Bank and Hildebrandt International Inc. predicts, but the downturn has also created a ripe opportunity for law firms to make fundamental structural changes with major long-term benefits.

  • January 30, 2009

    2 Firms Join Swell Of Layoffs; Clifford Cuts Go Global

    Ropes & Gray LLP and Fenwick & West LLP both made staff cuts Thursday, while Clifford Chance LLP confirmed that it had lost up to 20 percent of the lawyers in its Moscow office.

  • January 30, 2009

    SC Sen. Calls For Limits On Punitive Damages

    Seeking to impose broader tort restrictions, a South Carolina legislator has proposed a bill to limit punitive damage awards for all personal injury cases, as well as reverse two recent state Supreme Court decisions making it easier for plaintiffs to pursue product liability cases or cases against corporate directors and officers.

  • January 30, 2009

    K&L Gates, Bell Boyd Vote To Join Forces

    Partners of K&L Gates LLP and Bell Boyd & Lloyd LLP voted Friday in favor of a merger that will expand K&L Gates' presence in Chicago and San Diego and boost the firms’ practices in intellectual property, investment management and other key areas.

  • January 29, 2009

    Deep Cuts At MoFo, Linklaters Just The Beginning

    Morrison & Foerster LLP has laid off 53 associates and 148 staff members from offices across the country, while London-based Linklaters LLP has announced that it will lay off about 100 lawyers and 130 staff. And there will likely be more attorney layoffs down the pike, experts said Thursday.

  • January 28, 2009

    Senate Judiciary Committee OKs Holder In 17-2 Vote

    The U.S. Senate Judiciary Committee on Wednesday confirmed Eric Holder as the next U.S. attorney general in an overwhelming 17-2 vote.

  • January 27, 2009

    Wilson Sonsini Axes 45 Lawyers, 68 Staff

    Wilson Sonsini Goodrich & Rosati PC has become the latest law firm to make cuts, laying off 45 attorneys and 68 staff members while also freezing associate salaries and eliminating some bonuses.

  • January 27, 2009

    Cadwalader Mulls Lawsuit Against Defecting Partners

    After seeing seven London partners jump ship earlier this month, Cadwalader Wickersham & Taft LLP is reportedly considering legal action against the group for alleged violations of their partnership agreements.

  • January 26, 2009

    Choate Hall Chops 15 Attorneys, 23 Staff

    Despite having its second-best financial year ever in 2008, Choate Hall & Stewart LLP has handed pink slips to 15 lawyers and 23 nonlegal staff, or roughly 8 percent of the organization.

  • January 23, 2009

    Linklaters Poised To Make Deep Cuts

    Linklaters LLP is reportedly preparing to slash its associate work force and let go as many as 70 partners, as the Magic Circle firm tries to restructure operations amid the global financial crisis.

  • January 26, 2009

    Associate Pay Cuts May Be On The Horizon

    Law firms have already taken dramatic steps to stay afloat in the midst of the current recession, resorting to layoffs, bonus reductions and salary freezes. But with a bleak economic forecast for 2009, pay cuts for associates may be inevitable.

  • January 26, 2009

    Calif. High Court Rules On Fee Dispute Arbitrability

    The California Supreme Court has ruled that the state's Mandatory Fee Arbitration Act doesn't limit the ability of attorneys and clients involved in fee disputes to enter into binding contractual arbitration.

  • January 22, 2009

    Cooley Cuts 52 Lawyers, 62 Staff; Cadwalader Sheds 9

    Adding to the cascade of law firm downsizing nationwide, California-based Cooley Godward Kronish LLP has cut 52 lawyers and 62 staff, while New York's Cadwalader Wickersham & Taft LLP is laying off nine associates.