Law firm revenue in the U.S. will fall 5 to 10 percent this year even after demand increased in the third quarter, according to Citi Private Bank.

Law firms that rely heavily on financial-services clients will be hurt the most, said Dan DiPietro, head of client relations for the bank’s Law Firm Group in New York.

More lawyers lost their jobs in the third quarter than in the second, according to DiPietro, who says some law firms are now eliminating jobs at the partner level, including so-called equity partners as well as partners who are not owners.

“Some of the tough-love conversations are happening already, and there’s every reason to believe they will continue,” DiPietro said. Continue Reading »
Law Firm Revenue May Drop as Much as 10% This Year

Earlier this week, the U.S. Supreme Court heard arguments about the federal “honest services” law, passed back in 1988. The law says, basically, that it’s illegal “to deprive another of the intangible right of honest services.” It’s a crime to cheat customers, take bribes and kickbacks, etc. It’s frequently been used to prosecute government officials or corporate executives.
But some lawyers say it’s way too broad — that essentially anyone in America could be prosecuted in the federal courts, should your local U.S. attorney feel the itch. As the Times noted:

Justice Steven G. Breyer estimated that there are 150 million workers in the United States and that perhaps 140 million of them could be prosecuted under the government’s interpretation of the law. Continue Reading »
Do we need an “honest services” law?

Intellectual Property Law can be quite confusing at times. Copyrights, trademarks and patents all have a role in protecting your hard earned content and knowing their role is half the battle.

Intellectual property in itself refers to the creations of the mind, including such things as: artistic works, literary works, inventions, names, images, symbols, and designs used in commerce. In other words, the intellect that is the possession of an organization or an individual is considered intellectual property.

Intellectual property is divided into two categories, copyrights and industrial property.

Copyrights give the authors of an exclusive work, exclusive rights to that work for a limited amount of time. Copyrights cover such literary and artistic works as novels, poems, plays, films, songs and other musical works, artistic works (drawings, paintings, sculptures and photographs) and architectural designs. Copyrights, which must be renewed periodically, allow the creators of a piece of work, the opportunity to benefit from that piece of work.

Industrial property includes patents, trademarks, industrial designs and geographic indications of source.

Patents give the inventors of a new product, a certain (limited) amount of time in which he/she may prevent others from making, selling or using the invention without authorization.

A trademark is an intellectual property protection which is used to protect the distinctive features that distinguish one product from another. Those features can include such things as: symbols, colors, brands, names, sounds, smells, shapes, and signs.

Fortunately, Intellectual property laws benefit the creator of a property, by rewarding that creator for his/her innovation and creativity. Also, society as a whole benefits from intellectual property laws, by the fact, that these laws encourage creativity, therefore allowing the rest of us to benefit from the wide range of products and services that are produced.

Any violation of a trademark, patent or copyright could constitute the grounds for an intellectual property lawsuit. If you feel that you have been victimized it would be wise to consult a qualified attorney in your area. Find an attorney or law firm, which specializes in intellectual property law. Know your rights and protect them accordingly.

Before choosing a divorce lawyer, you need to know that a marriage is not just a bond between two individuals, but also between their families. Hence when a marriage fails, it can be a devastating experience for all involved, especially if there are children to be considered. A divorce can be either by mutual consent or else it could be that one partner has decided to sever the bonds of marriage while the other partner still hopes to carry on or give the relationship another try. It is always advisable to hire the best divorce lawyer to sort out all divorce proceedings, in case, you and your spouse have decided to go on your separate ways. The emotional setback of undergoing a divorce can already be shattering; hence it is best to leave the legal aspects to a qualified and experienced lawyer. The legal nitty gritties and issues can be best handled by a competent lawyer who is used to dealing with the unpleasant aspects of a divorce.
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Choosing a Divorce Lawyer