A number of high-profile law firm implosions and several rounds of lawyer layoffs have made many wonder whether pro bono work may have to take a back seat during a down economy.
As Democrats appear on the verge of expanding their control over Congress and possibly winning the White House, advocates on both sides of the civil justice reform issue expect to see changes to the system.
With several major law firms announcing attorney layoffs in October, associates and partners alike are probably questioning their own job security. And now, with Dewey & LeBoeuf LLP's announcement on Monday that it is closing its Charlotte, N.C., operations, should lawyers worry that their firms will follow suit and shut down entire offices?
Some attorneys who had planned to retire in the near future will try to keep their jobs because of the economic downturn's impact on their retirement savings, a scenario that poses potentially daunting questions for firms and could lead to fewer opportunities for junior lawyers and more disputes over mandatory retirement rules.
Drugmaker Pfizer Inc. has agreed to pay $894 million to settle the bulk of product liability, consumer fraud and state attorney general lawsuits filed against it over anti-inflammatory drugs Celebrex and Bextra.
Wall Street's ongoing malaise is raising new concerns over whether the market's extreme volatility might radically complicate even the best-laid executive compensation plans, experts say.
With the economic crisis in full swing and people being laid off left and right, one big question remains to be answered: Will law firms still have their over-the-top holiday parties this season?
An appellate court's decision to vacate the International Trade Commission's ban on importing electronics containing a Qualcomm Inc. chip may have broad implications for how patentees approach ITC proceedings, experts say.
Experts say everyone needs to be a salesman in this economy. But taking clients out for drinks, coffee or dinner tends to present a multiplicity of challenges, such as where to go, who should pay and whether to reach for that third martini.
As some law firm practice groups sputter in this economic downturn, at least one firm segment — intellectual property — remains strong as clients acknowledge that it's shortsighted to scale back on applying for and protecting patents and trademarks.
While law firms have lagged behind most businesses in developing innovative Web sites, consultants say that many now realize they need to include specialized content and convey the culture and work of the firm on the Internet. However, the largest, most established firms generally have been the slowest to embrace the Web.
As the Treasury Department releases more details on the agency's efforts to lay the groundwork for its $700 billion bailout plan, the role lawyers and law firms will play in the government's rescue program is slowly being clarified.
Big-shot government lawyers used to be welcomed with open arms by law firms competing to lure their expertise and name recognition as they left public office. But those days could be over, experts say.
With just a few weeks left before voters decide on the next occupant of the White House, it can be difficult for companies to know how to handle those increasingly heated political discussions around the watercooler. But employment experts say that by wielding a few key strategies, employers might be able to dodge political land mines at work as the country counts down to election day.
Attorneys who are eying a career change — whether they've been laid off or simply don't want to practice law anymore — have a much broader range of options available today than they have had in the past, experts say.
The fate of law firms that have taken a hit in the current financial turmoil rests largely in the hands of their managing partners, who need to act quickly, wisely and forcefully to help their firms weather the storm, experts say.
The U.S. Supreme Court's decision this week to reject a number of appeals in patent disputes was not entirely unexpected, but it could mean that for the first time in several years the high court's spring term will be lacking intellectual property cases.
Amid growing fears on Wall Street that the government may be unable to secure a quick fix for the financial system, the U.S. Treasury Department on Monday still had big questions to answer about how the bailout will work in practice, including one of the most pressing: how asset values will be determined.
President Bush signed the Emergency Economic Stabilization Act of 2008 into law soon after the bill was passed by the House of Representatives on Friday afternoon, after changes, including billions of dollars in renewable energy incentives, were added to sweeten the deal for Congress.
Facing ongoing turmoil on Wall Street, the financial services industry is increasingly anxious about what the future will bring, prompting both workers and employers to take stock of their positions and scrutinize the fine print on their employment agreements.