Question: How many lawyers does a slow economy produce? Answer: More. The number of lawyers in the USA exceeded 1 million for the first time in 2003. And the number of people taking the Law School Admission Test (LSAT) in 2003 is near the record 152,242 set during the last recession, in 1991. The two-year record of 300,020 of 1990-91 stands an equally good chance of falling in 2002-03.

Will the additional lawyers find work? Most likely they will, because companies will continue to combat the fear of litigation, says Walter Olson, senior fellow at the Manhattan Institute and editor of overlawyered.com. A Business Roundtable survey of CEOs of the nation’s largest companies this month said they were worried most about rising health care […]

Question: How many lawyers does a slow economy produce? Answer: More. The number of lawyers in the USA exceeded 1 million for the first time in 2003. And the number of people taking the Law School Admission Test (LSAT) in 2003 is near the record 152,242 set during the last recession, in 1991. The two-year record of 300,020 of 1990-91 stands an equally good chance of falling in 2002-03. Read More »

The US law firm bonus market appears to have stabilized as New York powerhouse, Cravath Swaine + Moore has set its benchmark bonuses for 2003 at last year’s rates. Cravath’s typically sets the top of the market in the New York bonus season and will pay first year associates awards of $17,500, rising to $25,000 – the same as the 2002 bonus season.

Like most elite US firms, Cravaths’ awards are handed out solely on a seniority basis with no performance criteria. Cravaths’ announcement, which was made to associates on 8 December, ends weeks of intense speculation over whether New York firms would this year sanction significant increases to the awards handed out in 2002, given the post-summer

The US law firm bonus market appears to have stabilized as New York powerhouse, Cravath Swaine + Moore has set its benchmark bonuses for 2003 at last year’s rates. Cravath’s typically sets the top of the market in the New York bonus season and will pay first year associates awards of $17,500, rising to $25,000 – the same as the 2002 bonus season. Read More »

Defending their own legal malpractice suit is not the most edifying way for a lawyer to spend his or her time. Christopher Hoge is a DC lawyer who spends a lot of time prosecuting legal malpratice suits. That niche probably doesn’t earn him the Mr Nice Guy award with many colleagues, but love him or hate him, Hoge does have some insight into what gets lawyers into trouble.

He has been practicing since 1975 and was elected as president of the Bar Association of the District of Columbia from 1998-1999. His other areas of practice include criminal law, civil litigation and professional negligence. What percentage of your practice is devoted to suing lawyers? I’d say at this point, probably 30 or 40 percent

Defending their own legal malpractice suit is not the most edifying way for a lawyer to spend his or her time. Christopher Hoge is a DC lawyer who spends a lot of time prosecuting legal malpratice suits. That niche probably doesn’t earn him the Mr Nice Guy award with many colleagues, but love him or hate him, Hoge does have some insight into what gets lawyers into trouble. Read More »

Clifford Chance has been left out on a limb following its decision to cut salaries for newly-qualified lawyers Trainees due to qualify this September will see their pay dip from £50,000 to £48,000 per year. Associates at Clifford Chance will see their average pay increase drop to just over 4 per cent from a previous 6.7 per cent in 2002-03.

Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters, however, have all confirmed to Lawyer 2B that they will not be following the rival magic circle firm’s lead, and that newly-qualifieds’ pay will remain static at £50,000. With SJ Berwin, Clifford Chance was the instigator of the 2000 salary war, as UK firms sought to rival

Clifford Chance has been left out on a limb following its decision to cut salaries for newly-qualified lawyers Trainees due to qualify this September will see their pay dip from £50,000 to £48,000 per year. Associates at Clifford Chance will see their average pay increase drop to just over 4 per cent from a previous 6.7 per cent in 2002-03. Read More »

Linklaters’ European network is growing increasingly vulnerable to predatory US firms after losing two more star partners to stateside rivals. Weil Gotshal & Manges has scooped Paris private equity partner David Aknin, while Cleary Gottlieb Steen & Hamilton’s Frankfurt practice has scored antitrust rainmaker Dirk Schroeder.

The devastating departures compound fears over the ability of Linklaters to hold on to its top partners across Europe after this year losing corporate giant Peter King to Shearman & Sterling and Roberto Christofolini to Latham & Watkins. Although the firm has lost many partners in the last 18 months, most were managed out, with

Linklaters’ European network is growing increasingly vulnerable to predatory US firms after losing two more star partners to stateside rivals. Weil Gotshal & Manges has scooped Paris private equity partner David Aknin, while Cleary Gottlieb Steen & Hamilton’s Frankfurt practice has scored antitrust rainmaker Dirk Schroeder. Read More »

New Zealand has its first Public Defender, an Auckland barrister who leads 18 lawyers in the country’s pilot program to deliver “a quality, consistent service” for less money. Time will tell whether the three year scheme will deliver the goods.

Auckland lawyer Michael Corry will lead a team of 18 salaried lawyers working full-time on legal aid cases in the Auckland and Manukau courts from May next year. The manager of strategic development for the Legal Services Agency, Frances Blyth, said the three-year Public Defence Services pilot aimed to deliver “a quality, consistent service” for

New Zealand has its first Public Defender, an Auckland barrister who leads 18 lawyers in the country’s pilot program to deliver “a quality, consistent service” for less money. Time will tell whether the three year scheme will deliver the goods. Read More »

UK and US firms are set to grab more than half of all Germany’s commercial legal work and a third of mainland Europe’s business law market within the next five years, according to a groundbreaking survey of 100 independent law firms. But despite the continuing expansion of Anglo-Saxon firms into their market, Europe’s domestic law firms are predicting strong growth of their own over the same period, especially in France and Italy.

These are the key findings of Legal Week’s inaugural survey of independent law firms in Europe, which suggests that domestic European firms are regaining confidence after the dramatic expansion of UK- and US-headquartered firms into their market over the last five years. Just 19% of the respondents to the survey said they would consider a

UK and US firms are set to grab more than half of all Germany’s commercial legal work and a third of mainland Europe’s business law market within the next five years, according to a groundbreaking survey of 100 independent law firms. But despite the continuing expansion of Anglo-Saxon firms into their market, Europe’s domestic law firms are predicting strong growth of their own over the same period, especially in France and Italy. Read More »

The American Lawyer has come up with ”The A List”, being a survey where each law firm is ranked with a grade that reflects a value judgment, highlighting revenues and pro bono work – a kind of balance between economic worth and social responsibility.

What the firms on the 2003 A-List have in common is outstanding results across the four categories. For example, 14 of the top 20 firms finished in the top quarter of The Am Law 200 in three of the four categories, and two firms — Arnold & Porter and Latham & Watkins — were four

The American Lawyer has come up with ”The A List”, being a survey where each law firm is ranked with a grade that reflects a value judgment, highlighting revenues and pro bono work – a kind of balance between economic worth and social responsibility. Read More »

Allen & Overy is outsourcing half of its document production department to southern India in a landmark move set to result in around 40 job losses in the UK.

The firm’s board decided last Friday to proceed with the radical plan following the successful completion of a pilot scheme earlier this month. Around half of the firm’s 85 document processing staff will be retained in London following the completion of an imminent redundancy programme. A&O has signed an agreement with US company Office Tiger

Allen & Overy is outsourcing half of its document production department to southern India in a landmark move set to result in around 40 job losses in the UK. Read More »

KPMG’s law network is preparing for a re-brand. Its plan is to bring aboard a number of US ‘best friend’ firms. Sounds just like school. Have KPMG have anything to teach us here?

The network’s management has said it is currently searching for US members for its global network, with Philadelphia’s Pepper Hamilton — a referral partner of KLegal’s UK member McGrigor Donald — seen as the leading candidate. Commenting on its US ambitions, one KLegal partner said: “We are looking at creating best friends agreements with one

KPMG’s law network is preparing for a re-brand. Its plan is to bring aboard a number of US ‘best friend’ firms. Sounds just like school. Have KPMG have anything to teach us here? Read More »

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