AM Law Not Getting on Board

Most Am Law 100 firms are not jumping on the deferral bandwagon as a way to deal with overstaffing.  Seven out of the ten most profitable partnerships are allowing their new associates to start in the fall as promised.  These firms are as follows:   Boies, Schiller & Flexner; Cleary Gottlieb Steen & Hamilton; Kirkland & Ellis; Paul, Weiss, Rifkind, Wharton & Garrison; Quinn Emanuel Urquhart Oliver & Hedges; Sullivan & Cromwell; Wachtell, Lipton, Rosen and Katz.  Those firms not following suit include Cravath, Swaine & Moore; Simpson Thacher & Bartlett; and Schulte, Roth & Zabel.  Cravath offered $80,000 in addition to health care and loan repayment stipends to those lawyers that defer for a year.  Simpson Thacher gave their incoming class an option to do public service for $60,000 with health insurance.  Schulte, Roth made deferment mandatory. 

 

Source:  www.amlawydaily.typepad.com

 

Saul Ewing Gives Clients Some Payment Options

Saul Ewing finally put biglaw’s words into action.  The firm has posted its alternative fee agreements online, composed of two options.  With this new payment plan, a certain clients may either choose a fixed fee or can choose to pay per attorney, per day. 

 

Source:  www.law.com

 

Tags:  Saul Ewing LLP

IP Expected to Boom in Asia

Intellectual Property lawyers are foretelling some major growth in the practice field throughout Asia.  Connie Carnabuci and Mark Parsons, both lawyers with Freshfields in Hong Kong, explain that the economic decline, changes in regulation, and an increase of IPR awareness are playing off of each other and subsequently increasing work for IP lawyers in Asia.  In short, the downturn is increasing the willingness of businesses to protect what is theirs, since so much has already been lost.  The money-making options are slimmer than they once were, so businesses feel a greater need to protect what is rightly theirs.  China’s States Intellectual Property Office has noted a 19% increase in patent applications since the implementation of a national IPR strategy.  This growth may also be seen in law firm response.  The following firms have boosted their IP groups in Asia:  Bingham McCutchen, Deheng, and Rouse and Dacheng.  

 

Source:  www.asialegalbusiness.com

 

Tags:  Hong Kong

Freshfields Bruckhaus Deringer Allowed Machines to Relay a Termination Message

14 trainee solicitors called their message machines only to hear that they have been let go from Freshfields Bruckhaus Deringer.  Additionally, the recorded voices on those machines did not belong to a single a partner, but were the voices of human resource workers.  When criticized for not delivering the message personally to these individuals, the firm explained the need to relay the message as quickly as possible so the trainees would not hear it from another source first.

 

Source:  www.nylj.com

Tags:  Freshfields LLP

Obama Announces Two New Big Law Ambassadors

Obama has recruited two Washington lawyers to the job of ambassador.  Williams & Connolly will lose partner Howard Gutman to the position of ambassador to Belgium.  Mark Gitenstein, a partner in Mayer Brown, is to become ambassador to Romania. 

 

Source:  www.nylj.com