Opinion

Private Equity Owners Can Remedy Law Firms' Agency Issues

Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.

How To Protect Atty-Client Privilege While Using Generative AI

When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.

Kentucky Tax Talk: Taking Up The Dormant Commerce Clause

Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.

How New Lawyers Can Leverage Feedback For Growth

Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

Circuit Rulings Confirm Ch. 11 Trustee Fee Refund Trend

Recent Ninth and Eleventh Circuit rulings that Chapter 11 debtors are entitled to refunds for unconstitutional bankruptcy trustee fees paid under the Bankruptcy Judgeship Act support a developing trend in debtors' favor, making it likely that courts considering the same question will follow suit, says Adam Herring at Nelson Mullins.

The NIL Legislation Race: CAEFA And Ted Cruz's Draft Bill

Christina Stylianou and Gregg Clifton at Lewis Brisbois compare legislation pertaining to the name, image and likeness rights of college student-athletes, including the College Athlete Economic Freedom Act and Sen. Ted Cruz's draft bill that would restrict an athlete's eligibility to compete if an NIL agreement violates their university's student code of conduct.

Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

ABA's Money-Laundering Resolution Is A Balancing Act

While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

Prevailing Wage Rules Complicate Inflation Act Tax Incentives

Nicole Elliott and Timothy Taylor at Holland & Knight discuss the intersection between tax and labor newly created by the Inflation Reduction Act, and focus on aspects of recent U.S. Department of Labor and U.S. Department of the Treasury rules that may catch tax-incentive seekers off guard.

Law Firm Professional Development Steps To Thrive In AI Era

As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

Payroll Tax Evasion Notice Suggests FinCEN's New Focus

The Financial Crimes Enforcement Network’s recent notice advising U.S. financial institutions to report payroll tax evasion and workers' compensation schemes in the construction industry suggests a growing interest in tax enforcement and IRS collaboration, as well as increased scrutiny in the construction sector, say Andrew Weiner and Jay Nanavati at Kostelanetz.

The Basics Of Being A Knowledge Management Attorney

Excerpt from Practical Guidance

Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

Challenging Standing In Antitrust Classes: The Uninjured

In virtually every antitrust class action, parties at the certification phase disagree about whether the proposed class includes uninjured members, but the goals of Rule 23 and judicial economy are best served by synthesizing two distinct approaches circuit courts take on this issue, say Michael Hamburger and Holly Tao at White & Case.

How Taxpayers Can Prep As Justices Weigh Repatriation Tax

The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.

To Hire And Keep Top Talent, Think Beyond Compensation

Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.