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Fear and uncertainty are two words that sum up the sentiment at large law firms today. Many took an unexpected punch to the gut over the past year, leaving lawyers and legal journalists to wring their hands over mounting concerns. One issue that may move to the forefront in 2009 is the potential "flight to quality" among rainmakers who have lost confidence in their firms' ability to thrive. Dan Binstock, managing director of BCG Attorney Search's Washington, D.C., office, discusses the trend.
Linklaters has announced a formal layoff consultation, with up to 120 lawyers and 150 business support staff in London expected to lose their jobs. The level of cuts would be the heaviest yet seen at a major U.K. firm in response to the global recession. It is unclear what will happen within the firm's international network, although U.K. lawyers on secondment to international offices will be involved in the consultation.
The bad news continues for San Francisco Bay Area associates and legal staffers. Morrison & Foerster cut 53 lawyers and 148 staff Wednesday, adding to the mounting toll of out-of-work legal professionals. The firm issued a statement saying the layoffs were meant "to align our firm with client needs in this extraordinary economic downturn." Associates and staff from around the country at all levels of seniority were affected by the cuts. More than 5 percent of the firm's 1,000 attorneys were laid off.
The long-anticipated petition appealing the Federal Circuit's landmark decision was filed at the Supreme Court Wednesday, setting the stage for a showdown over whether so-called "business methods" are patentable. When the decision was issued in October, some analysts said it brought the Federal Circuit more in line with current Supreme Court sentiment against broad interpretation of patent law. So, will the Court accept and grant the petition or let the circuit's ruling stand?
The electronic data discovery industry is a microcosm of the broader wounded economy. So, write this on your hand: Nothing is sacred. Anyone can disappear ... fast. No matter who you are using for e-discovery, now is the time to assess your exposure, mobility and disaster recovery strategy.
The best defense against sanctions or an order to return to the drawing board midway through discovery is to craft a protocol agreed upon by both parties in the form of a stipulation. E. Kendrick Smith and Robin A. Schmal of Jones Day list issues to consider in drafting the agreement.
Intellectual property boutique Novak Druce & Quigg is opening a new office in West Palm Beach, Fla., with six attorneys it lured from Akerman Senterfitt. The departing attorneys made up the core of the IP practice at Akerman, which saw merger talks with Philadelphia-based WolfBlock break down in September. The office will be Novak's first in Florida.
Foley Hoag saw a bump up in both gross revenue and profits in 2008. Gross revenue for the firm increased 2.5 percent to $154 million; profits per equity partner rose more than 5 percent to exceed $840,000. The increases were due largely to growth in such areas as securities, energy and policy work. Niche areas within these practices, including an accountants' liability group, alternative energy group, international disputes group and the government strategies and investigations group all stayed busy in 2008.
The eight most recent solicitors general have joined in a letter giving strong backing to Harvard Law School Dean Elena Kagan, President Barack Obama's pick for the only position in government whose occupant is required by statute to be "learned in the law." In the letter, sent to the Judiciary Committee Wednesday and obtained by , the eight former SGs note that Kagan "has been regarded as one of the most successful law school deans in modern history."
The New York Court of Appeals has declined to hear the appeal of attorney John A. Aretakis' one-year suspension for engaging in "undignified and discourteous conduct" toward courts. Aretakis was found to have committed misconduct after being sanctioned by four courts between 2005 and 2008, mostly involving sexual abuse cases against Roman Catholic priests. "This is target practice on a lawyer because I have been involved in a controversial area of law," he said in an interview. "To me, it's a clear injustice."
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