U.S. lawyers know ABA Model Rule 5.4 prohibits them from sharing profits or forming partnerships with those who aren’t licensed to practice. In theory, this rule keeps the lawyering safely in the hands of the lawyers (and revenue from the practice of law safely ensconced at traditional law firms).
But does it really? And do outsiders looking to invest huge sums of money in the legal profession—in hopes of huge gains—even have their sights set on traditional law firm profits?
Not really....
A suggestion by President Barack Obama to shrink the duration of law school could buoy the case of people who long have questioned whether law students really need a third year of academic study.
But the idea comes as law schools already are struggling with declining enrollment and could be reluctant to cut into their sources of revenue.
Third-year law students would 'be better off clerking or practicing in a firm,' President Barack Obama says.
The main path to law practice...
We had a ton of requests for a list of iPad apps and accessories that Tom Mighell covered in his excellent presentation earlier today: Using IPads In Your Law Practice. Here it is:
Apps
Creating Notes and Documents
Noteshelf
Notability
GoodNotes
Documents To Go
Quickoffice Pro HD
CloudOn
Working with PDF Files
PDF Expert (recommended)
Adobe EchoSign
iAnnotate
iPad for Litigators
FormConnect
TranscriptPad
eDepo (in beta)
iJuror
JuryPad
Legal Research
WestlawNext
Lexis Advance
Fastcase
Federal...
Dr. James Maclean of the University of Southampton Law Schoolhas published a new book entitled Rethinking Law as Process: Creativity, Novelty, Change, (Routledge, 2013).
Here is the abstract:
Rethinking Law as Process draws on insights from ‘process philosophy’ in order to rethink the nature of legal decision-making. While there have been significant developments in the application of ‘process’ thought across a number of disciplines, little notice has been taken of Whiteheadian metaphysics...
An event that started as a "lark" is now a tradition on the eve of theABA Techshow: LexThink.1 (formerly Ignite Law). LexThink.1 is a collection of thematic monologues delivered in six-minute increments that expound the future of law practice. It is produced byMatthew Homann, CEO at Kendeo and founder at LexThink, andJoAnna Forshee, CEO of InsideLegal.com and Envision Agency, and last night was sponsored by Clio, the practice management sofware as a service.
The theme for 2013: market disruption...
The Citi Private Bank Law Watch group released the results of a survey of top law firm managing partners (the number and identity of the firms is proprietary) revealing that they are much more optimistic about the future of law practice than they were just a couple of months ago. The majority of those surveyed expect revenues to be up this year, if only modestly. From the executive summary:
Managing partners’ overall level of confidence increased during 4Q’12 and sits comfortably above...