Big firms beef up; business keeps booming, but smaller firms struggle to make profits
Article Abstract:
Times are good for law firms, although Altman Weil Inc's Survey of Law Firm Economics covering data through 1997 finds that the hefty profits go to large firms, while small and mid-sized ones have to work harder to keep up. Overall, the gross receipts per lawyer were up 13% in 1997 over the previous year, but they are not increasing as fast as one would think based on the rise in firm revenues. The per-lawyer profit in 1997 was 56.8% of the gross receipts compared to 56.3% the previous year.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1998
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A thorny ethics field: ERISA lawyers can't ignore confidentiality and privilege issues
Article Abstract:
ERISA presents lawyers with complicated ethical issues. The ABA Model Rules of Professional Conduct provisions on confidentiality, which most states pattern their rules upon, makes ERISA matters difficult since working with ERISA means the lawyer will usually have several clients. Lawyers need to especially note professional conduct provisions on fiduciary responsibility as well.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1998
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