Private Equity Roundtable
The Legal 500 and Debevoise & Plimpton LLP held a roundtable discussion in London with various figures from the private equity industry. The discussion centred on regulatory issues affecting the industry globally, including the SEC's examination process, the JOBS Act, the effect of the Alternative Investment Fund Management Directive on marketing across Europe, and asset stripping.
The full transcript is available HERE. If you have any comments on the topics discussed, please email alexander.boyes@legal500.com
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The Legal 500 United Kingdom Awards 2013
The full in-depth, comprehensive analysis of law firms across the Asia Pacific is available to view here - no registration or fee is required. The research can also be downloaded as a region-specific .epub or .mobi-formatted eBooks – ideal for use on Kindle, iPad, iPhone and Android/Blackberry readers.
eBooksThe Legal 500 Asia Pacific
AUSTRALIA
The continued volatility of the global financial climate and the changing dynamics of the mining and resources sector, as well as the continuing decline in the commodities prices, has had an impact on the Australian market. The latter is particularly significant for the country’s energy and resources driven economy.
The Legal 500 Asia Pacific
CHINA
The past year saw a general reduction in China-related M&A activity, with the weak global economy, the sovereign debt crisis in Europe and China’s leadership change all being contributing factors. The private equity sector in Greater China has also struggled in recent times, and the continued uncertainty in the global economy and shifting investment strategies have led to an increase in divestments by multinational companies and other foreign investors.
The Legal 500 Asia Pacific
HONG KONG
After several years of fluidity, Hong Kong’s legal market remained fairly stable in 2012 and 2013. The preceding years involved a series of lateral partner moves, with Hong Kong qualified partners departing Magic Circle firms for US competitors. This was largely in the corporate and corporate finance sector, as US firms sought to exploit the buoyancy in the Hong Kong capital markets and an expectation that M&A, including People’s Republic of China (PRC) outbound acquisitions, would grow. However, since 2011, Hong Kong’s capital markets have been far from lively, particularly on the equity side. Even so, US firms such as Davis Polk & Wardwell LLP are clearly developing a greater market share and are eating into the traditional hegemony of Magic Circle practices such as Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters.
The Legal 500 Asia Pacific
SINGAPORE
Singapore continues to develop as a regional hub for international law firms conducting business in Southeast Asia and beyond. A further four international firms were granted Qualified Foreign Law Practice (QFLP) licences over the last 12 months: Jones Day, Linklaters Singapore Pte. Ltd, Sidley Austin LLP, and Gibson Dunn. The licence, now held by ten firms, allows foreign law firms to practise in Singaporean commercial law.
The Legal 500 Asia Pacific
SOUTH KOREA
South Korea’s domestic market remains sluggish, with lawyers reporting slim pickings on the M&A and capital markets fronts. In contrast, firms report an uptick in outbound transactions, and a marked increase in shipping finance. Also, more corporate private auctions are taking place as holding companies seek to sell off subsidiaries.
The Legal 500 is at the ACC Conference this week.
Please see the feed below for regular updates.
Right #ACCAM13 that's it from us - thanks to everyone, and if you want to see what happened in one place, click here http://t.co/1xnlHQd6ZY
ACC: Privacy panel
The irresistably titled 'data breaches that don't make the headlines' is about to begin. The panel includes ACE Group's executive VP and GC Christopher Kearns; Provide Commerce's SVP and GC Blake Bilstad; Facebook's former chief privacy officer Chris Kelly and Morrison & Foerster partner Andrew Serwin.RT @chinaesq: Breaches that don't require disclosure: hacktivist attacks, defense contractors, IP walking out the door with employee, etc. ...
RT @AdrienneMeadEsq: Given risks, baffling, really RT "@chinaesq: Only 25% of $1B companies have cyber liability insurance. Astoundingly l...
RT @AdrienneMeadEsq: The first step toward progress? RT "@chinaesq: FTC admits that privacy models don't function well today. At least the...
RT @LH_Legal500: "If you aren't thinking about the implications of privacy and discovery, then you need to be" #ACCAM13
RT @georgenbass: Interesting concept of "dark data"-the stuff we should not be keeping. #1003TakeControlofDiscoveryandReviewCostsintheErao...
RT @BrandonJDDC: 1/3 of people in LA said pressure to look good contributes to their stress. Looks weren't a stressor in other metro areas....
RT @MShermanEsq: Another reason for retaining your older employees, 50-60 year olds are high on #happiness slope ;) #ACCAM13 #substanceab...
RT @AdrienneMeadEsq: @chinaesq considering every "cloud" panel begins with "what is cloud?" not surprising that "cloud" is buzz word. #ACC...
ACC discussion: Inventory
In the final session of the day, the panel attempt to steer us through the minefield that is data control. Some interesting points being raised on privacy, which, for many businesses is a major concern that is second only to litigation. A show of hands suggests a majority use Dropbox at work. But do their companies actually allow it? It's pointed out that using these outside data programmes allows employees to get around in-house legal policy. Can your legal department realistically implement such a policy successfully?RT @JFBrashear: CA password #privacy law > account and PW. Can't compel disclosure of personal e-content, including email. http://t.co/4IlQ...
RT @WapoCat: Gap Inc.'s assoc gen counsel Emily Sullivan: As lawyers, in the US we worry about litigation. Overseas, we worry about reputat...
RT @BrandonJDDC: One company offered up an indemnification that carved out lawsuits by patent trolls. That's funny! #ACCAM13
RT @BrandonJDDC: IP disputes are on the rise--especially with the increase in patent trolls. Getting the right IP Indemnity is essential. ...
RT @MShermanEsq: Companies need 2 audit vendors 4 compliance w/privacy terms. Regulators expect. Remember 2 include website & social media...
RT @JFBrashear: Concerned about legal risks arising from employee #BYOD < #ad ZixOne: email access; no data on device. http://t.co/7VLMwoE9...
RT @chinaesq: Panelist is a cynic but has no idea what he's talking about. Hate to call him out but I'm doing it. #ACCAM13. http://t.co/x...
RT @PhilipFavro: #ACCAM13 - whether disclosure should be made of privileged matters to US Govt is a particularly complex + troublesome topic
RT @chinaesq: Mr. Holland: "most companies will say they know where their data is but don't". BS--most decent providers know exactly where ...
RT @MShermanEsq: CA leads in area of #privacy laws, so "Privacy on the Go" for apps, and AG Kamala Harris website has other good #privacy m...
RT @chinaesq: Disconnect between what cloud vendors and purchasers want. Sad but true. In my mind, its a result of "the cloud" is a buzzw...
RT @andrewramonas: Tech Counsel Show Support for 'Patent Troll' Reform http://t.co/Qn2gVVMSYK #ACCAM13
RT @PhilipFavro: #ACCAM13 - EU nations generally do not recognize the application of the privilege to in-house counsel's communications
RT @FiLizbeth: In house legal profession aligned with business reality; consistent messages in every #ACCAM13 session. How to get lagging l...
RT @PhilipFavro: #ACCAM13 - privilege does not automatically attach - and may not apply - to communications involving lay employees of corp...
RT @ACCinhouse: Many jurisdictions do not recognize attorney-client privilege, making legal advice rendered subject to disclosure/discovery...
ACC discussion: we're not just legal, we mean business
Here are 8 tips for outside counsel from the panel:RT @MShermanEsq: "@CorpCounsel: Tech counsel at #ACCAM13 voiced support 4 @RepGoodlatte's #PatentTroll reform bill: http://t.co/beXJLwT3NI"...
RT @MShermanEsq: Talk to EU local counsel NOW about what is timing for privacy breach notification, etc. Breaches likely, no time to learn ...
RT @PhilipFavro: #ACCAM13 - In-House Counsel's Communications may contain business + legal advice; typically only the legal advice is prote...
RT @MeganMandeville: Sidley's David Carpenter speaking now with GCs of @AOL @HRC @towerswatson & Corp Exec Board at @ACCinhouse Annual Meet...
RT @chinaesq: You need to figure out if license from a large software company makes sense. If you ask something unusual, they will be unwi...
RT @MShermanEsq: Tension between EU #privacy breach notification w/in 72 hours, & US law enforcement saying keep quiet while they investiga...
RT @ACCinhouse: #ACCAM13 panel explores the basis for attorney-client privilege.
RT @FiLizbeth: "Being General Counsel requires that you get comfortable in ambiguity in helping run the company" Kirkland Hicks, GC Towers ...
RT @PhilipFavro: #ACCAM13 - US in-house counsel must remember that communications with EU employees, while privileged in US, may not be pri...
RT @WapoCat: Senior lawyer at Gap Inc. on dealing w/ co's diversity policy in countries hostile to LGBT rights: We export our employee poli...
RT @PhilipFavro: #ACCAM13 - In-house counsel must always remember + clarify that s/he represents the company, not the employees or executiv...
RT @MShermanEsq: #BYOD - require employees to agree to monitoring software to protect interests of company, or opt not to use own device fo...
RT @chinaesq: Love the IP ownership diagram. "Client specific extensions should still be owned by the SUPPLIER." Yes, and in SaaS even mor...
RT @MShermanEsq: Cautionary note for those who don't keep work & personal separate: Personal email sent to work email isn't #privacy protec...
RT @MShermanEsq: Social media legal issues here to stay, not a "hot" trend. mentioned in all @ACCinhouse programs I've attended #ACCAM13 ...
RT @PhilipFavro: #ACCAM13 - best practice for reducing privilege log burdens is to negotiate a log by category or elimination of log entire...
RT @MShermanEsq: Using highest bar for protection of #employee data and required consents = getting law enforcement help more easily for br...
RT @PhilipFavro: #ACCAM13 - Best practice for addressing corporate email complications is to train employees re proper use of (or cutting d...
RT @MattNolanMi: "Diversity and Inclusion do not look the same in every country." @ACCinhouse #ACCAM13
RT @FiLizbeth: "Perspectives from the Boss" panel this morning is a wonderful representation of diverse leaders #Diversity #ACCAM13
ACC round up: day 2
As the ACC conference in Los Angeles draws to a close the issue being singled out as one of the most valuable topics of discussion and one arising in a number of panel sessions over the past three days is the risk posed to companies by 'bring your own technology.' Steven Kroll, Vice President, general counsel (GC) and company secretary of Cancer Treatment Centers of America says 'we have a ton of employees with their own devices' and the panels have looked at how to reduce the risk posed now that smart devices have blurred the lines between work and home. Many GCs have come to the conference looking for solutions to this problem and James Brashear, Vice President, GC and company secretary of email data security company zixcorp says: 'Employees are constantly using their own devices and accessing company data, which may include the personal information of clients or patients and the loss of that device presents a risk. 'Everyone here is focussed on how too catch up with the technology.' On Monday (28 October), a cyber risk panel comprised of Risk Management Solutions' senior vice president and GC Eric Drattell, Stroz Friedberg's managing director David Garrett and Warner Bros Entertainment's senior counsel compliance and litigation Mark Krause looked at these issues and the additional risk posed if the employee's device is hacked, giving a hacker access to company information. The panel pointed out that simply blocking the use of outside devices is no longer viable if you are trying to attract young staff for whom the use of social media is second nature. While hard and fast solutions are hard to come by, the panel pointed out that in addition to the software available to tackle some of the risks, regular meetings and training of staff is a priority. Staff need to be aware of the risks and it may be sensible in some cases to try to limit the number of devices they use. However, Brashear adds: 'What the panel didn't look at is how the lawyers should support the insurance department in how to manage cyber risk.'RT @ACCinhouse: Non-disclosure and confidentiality agreements are ubiquitous, used daily in a variety of contexts. #ACCAM13
RT @PhilipFavro: #ACCAM13 - For US Litigation, in-house counsel should consider how an email will look in a privilege log when preparing it...
ACC panel discussion: we're not just legal, we mean business
It's Wednesday morning at 9am, and the final day of the conference. Despite the numerous late night parties that took place last night, there's an impressive turnout for this session. The panel is being chaired by Sidley Austin's David Carpenter, and the speakers include Kirkland Hicks of Towers Watson, who features on the recently launched Corporate Counsel 100 list. Julie Jacobs of AOL, Dawn Crumel of Meritus Medical Center, and Robert Falk from the Human Rights Campaign complete the lineup. The topic of blending legal and business is sure to be of interest to the majority of in-housers, so stay tuned here for updates on the discussion.RT @CorpCounsel: Tech counsel at #ACCAM13 voiced support for @RepGoodlatte's #PatentTroll reform bill: http://t.co/CgDAyyqBPg
RT @LegalBusinessUK: Catch up with today's debate from #ACCAM13 on our rolling blog http://t.co/PFyhAvXnqu . And check out @thelegal500 for ...
RT @LexMundi: Sabrina Fung, Deacons, @LexMundi member for Hong Kong, explores SE Asian capital markets #LexMundiLA #ACCAM13 (session is 9am...
RT @ACCinhouse: Couldn't attend #ACCAM13 in person? Participate online! Four live webcasts available today: http://t.co/FN3ZrFinm4
RT @LH_Legal500: Are you ready for competitive collaboration? http://t.co/LcJmbzush2 @seyfarthshawLLP @ldamon @thelegal500 #ACCAM13
ACC discussion: are you ready for competitive collaboration
How many law firms would embrace the opportunity to work in tandem with their competitors when instructed to do so by their clients? It may not sound like an ideal scenario, but since the idea of convergence has proven so popular, is fighting against the grain going to prove counter-productive? The folks at Seyfarth Shaw certainly seem to think so. The firm has become somewhat synonymous with innovation, so it is not a surprise that it would be one of the first to embrace this thoroughly modern strategy of 'competitive collaboration,' and it sees no reason not to work with other firms, if that is what clients want. According to partner Lisa Damon, "for the traditional law firm, this idea is a nightmare, catastrophic even. But we couldn't be happier with it. When you focus on your clients and not on yourself, you get more opportunity to do things." Damon believes it is one of the many ways in which the legal world is changing, so rather than fight it, she wants to '"ring the bell, and make people see it as a viable idea."RT @GregMazares: ACC Annual Meeting: Lots of focus on benchmarking & metrics to better manage results and costs. Also concerns about data ...
Can I just say, if you didn't know, @seyfarthshawLLP giveaway of licorice actually tastes much sweeter and better than that. #accam13
RT @SteveSalzer: #accam13. Surprise minimization term for app development, great phrase, pro-consumer, CFPB, global standard, it all ties
RT @rikkitikki128: All app stores (at least the legitimate ones) prohibit inclusion of GPL code (and other similarly licensed code) in your...
RT @PhilipFavro: #ACCAM13 Communication and responsiveness are perhaps the most important factors in assessing the fairness of outside coun...
ACC discussion: a quick note on convergence
A quick show of hands at today's session revealed many in-house lawyers were not familiar with the concept of convergence.ACC discussion - is compensation linked to budgets?
There's often a perception that in-house counsel are incentivised to keep to budget through their bonus arrangements. So, the results of a survey at today's ACC session on litigation may come as a surprise to some.#ACCAM13 attendees - tired or dissatisfied with your law firms - come see us and we can help you find new ones - in 105 countries!!
RT @ValoremLamb: @JCPartridge I thought the point was to price value, not how fast or slow it is provided. #ACCAM13
RT @MShermanEsq: "@HackettInHouse: Who you hire/ promote/ reward: your team is watching you. Drive innovatn/model behavior by your actions....
RT @PhilipFavro: #ACCAM13 - Panel touts the use of e-billing software, other technologies for tracking outside counsel's expenses
RT @PhilipFavro: #ACCAM13 Despite their protestations, law firms can develop a litigation budget: "predictability with legal fees is what i...
RT @Bubbythebest: "Panel members review case studies and discuss what lawyers can do to avoid trouble. #ACCAM13" staying out of trouble wit...
RT @Bubbythebest: "At #ACCAM13, in-house counsel familiarize themselves with current industry trends." Learning new things with @ReganVS1
RT @PhilipFavro: #ACCAM13 - Alternative Fee Arrangements becoming more popular: flat fees, caps, combined hourly rates, performance-billing...
RT @MShermanEsq: "@WapoCat: CSC's lawyer for litigation on outside firms: Regional firms are a go-to. Don't always need top-tier. #ACCAM13"...
RT @klchildejd: #apps panel is doing a great job helping us in the audience understand the world of app development #ACCAM13
RT @LH_Legal500: Wow. Some clients asking firms to do a two-day mock trial when pitching, free of charge #ACCAM13
RT @PhilipFavro: #ACCAM13 - Benefits + ills of RFPs in selecting outside counsel. Bottom line is that these beauty contests are effective i...
RT @LH_Legal500: Unanimous feeling among corporate counsel is that law firms must have diversity program in place to be in the running #ACC...
RT @LH_Legal500: The RFP process is not particularly popular among either in-housers or firms, according to the last couple of panel discus...
RT @WapoCat: CSC's lead lawyer for litigation, on outside firms: Regional firms are a go-to for us. Don't need a top-tier firm for everythi...
RT @PhilipFavro: #ACCAM13 Many large firms have spun off their labor, employment practice; companies can obtain greater value from lawyers ...
RT @FiLizbeth: Massive law firm convergence at BoA, 700 firms to 50 = predictability & results. Power woman Lani Quarmby wowing the rapt au...
RT @PhilipFavro: #ACCAM13 How to select a law firm? size v. staffing; sharing risk and incentives; understanding your business, not just li...
RT @PhilipFavro: #ACCAM13 In-house lawyers need to carefully select law firm to ensure costs R reasonable. Will case go to trial? Do you ne...
RT @MattNolanMi: "If you have only 10min to review an agreement, focus on indemnification first." @ACCinhouse #ACCAM13
RT @ACCinhouse: At #ACCAM13, in-house counsel familiarize themselves with current industry trends.
RT @DVanLierEsq: Attended a fascinating panel at #ACCAM13 about changing landscape of LGBT issues for in-house counsel. Questions from crow...
RT @PhilipFavro: #ACCAM13 - over 50% in-house counsel feel significant pressure to reduce litigation costs #eDiscovery
RT @KevinMayeux: Top 5 Corporate Governance Trends for 2014: succession planning, exec comp, social media, crisis mgmt, information governa...
RT @PhilipFavro: #ACCAM13 - "Value of the litigation spend" panel is nicely comprised of small and large companies so as to share tactics o...
RT @ACCinhouse: Panel (Brookline Bancorp, Inc., First Financial Group, ZL Technologies) spotlights top 5 corp. governance issues heading in...
RT @rikkitikki128: It's not privacy it's informational self- determination #ACCAM13 brilliant panelist!
RT @AdrienneMeadEsq: Gr8 panel on (potential) pitfalls of consumer data privacy! Takeaways 1) fasten your seat belt 2) stay alert! Laws cha...
RT @AdrienneMeadEsq: FTC guidelines for mobile apps, advise that privacy policy is avail in the app (not just a link to policy online) #ACC...
ACC: Strategic management for law depts
Michael Caplan COO of Marsh & McLennan opens the after lunch session on strategic management for law departments. He says managing the department is as important as anticipating changes in laws and regulation and the company has invested heavily in technology to ensure the legal team know exactly who is working on what and where. As a matter of policy he goes into strategy meetings with the following information about competitors and is clearly a huge advocate of benchmarking: Total number of attorneys; Total reported revenue; Number of attorneys per $1bn revenue; Total legal spend as a % of revenue; Internal v external spend; Percentage of attrorneys outside of the US;RT @klchildejd: Is privacy the right term, or is "informational self-determination" more accurate? #ACCAM13
RT @AdrienneMeadEsq: Data Privacy joke: Did u hear head of NSA resigned? He wanted to spend less time w/ your family #ACCAM13 (Thank you, ...
RT @MShermanEsq: Trade secret issues also mean not letting employees use pseudonyms to attend competitor's conference or join closed listse...
RT @KevinMayeux: "Trend-following companies are in for a world of hurt. Innovation is critical for organizational success." #ACCAM13 #iia
RT @JCPartridge: Companies can leverage efficiencies of e-billing systems to negotiate quick-pay discounts; helps system pay for itself. #A...
RT @AdrienneMeadEsq: Beware: If your company is interacting w/ consumers online, you're collecting private (potentially private) consumer d...
RT @ACCinhouse: Negotiating Letters of Intent - preparing the internal team to get the deal and avoid the traps #ACCAM13
RT @ACCinhouse: Benchmarking to demonstrate value: #ACCAM13 session gives ideas for showcasing legal department accomplishments.
RT @HackettInHouse: #ACCAM13 Roellig takeaways: 1. its abt talent/teams 2. understand biz 3. give team the tech/res. to do the job 5. celeb...
RT @BrandonJDDC: "Skills for the 21st Century GC" looks like another great research report. Can't wait for the full report in Nov. #ACCAM13
RT @HackettInHouse: #ACCAM13 - CLO: Relatnshps w/the board matter: 1. The first place to apply the "no surprises" rule. 2. Be calm and carr...
RT @HackettInHouse: #ACCAM13 - Kate brings the house down - If there's a missing apostrophe in a contract, does it really matter? NO-Get ov...
RT @HackettInHouse: #ACCAM13: Great audience Q: most other trade groups do a lot to "train" the constituents' leadership about their value....
RT @HackettInHouse: #ACCAM13 - CLO: Relatnshps w/the board matter: 1. The first place to apply the "no surprises" rule. 2. Be calm and carr...
RT @HackettInHouse: Kate Chisholm: her lawyers shdn't be doing typo checks- is that highest value? Once done, it will be yr lawyer's job fo...
RT @ACCinhouse: Krogh ties together theme from a number of this week's #ACCAM13 sessions and events: mentors are crucial to success.
RT @BrandonJDDC: Patricia Hatler (Nationwide CLO): recruiting for in-house directly from law school has worked at Nationwide. #ACCAM13
RT @MarkusJDMBA: In the 80s & 90s, being a summer associate at big law meant you were living in the golden age, now get I house ASAP ACCAM13
RT @BrandonJDDC: Mark Roellig (GC MassMutual): people watch who you promote. If you want creativity, you need to promote creative people. #...
RT @HackettInHouse: Who you hire/who you promote/who you reward: your team is watching you. Drive innovatn/model behavior by your actions.R...
RT @MarkusJDMBA: Compliance is ultimately a virtue - the measurement is found within the tone at the top #ACCAM13
RT @HackettInHouse: Pat Hatler/CLO lunch on risk and compliance: The challenge - a truly meaningful way to measure the effectiveness of com...
RT @ACCinhouse: Krogh at #ACCAM13 Luncheon: My life changed the day I found out about the Pentagon Papers. This was 1970s version of #Snowd...
RT @georgenbass: Roellig:GC must not only see what's around the corner (risk, compliance & corp developments), but shape what's around the ...
RT @HackettInHouse: CLOs drive value by banding togthr w/ other GCs - power of the collaborative in driving regulatory change. Get in front...
ACC: Doing business in Brazil
Interested in doing business in Brazil?RT @georgenbass: "@HackettInHouse:Roelig:Bring 2 the table reasoned judgment:reqs listening, understanding & speaking the language of the b...
RT @ACCinhouse: Lawyers must tell things the way they are, even when it's not what a peer or superior wants to hear - need moral courage #A...
RT @HackettInHouse: Rollig: Bring to the table reasoned judgment: reqs listening, understanding, and speaking the language of the business....
RT @BrandonJDDC: Kate Chisholm (SVP Legal, Capital Power) says lawyers often confuse productivity with being busy b/c of the billable hours...
RT @HackettInHouse: #ACCAM13 - Pat Hatler: the CLO has to have every single business skill of every other exec in the company. Plus, oh by...
RT @FiLizbeth: If you don't have it you better get EQ quick - an influencer needs authentic peer relationships - Mark Roellig, GC MassMutua...
RT @HackettInHouse: #ACCAM13 - CLO Lunch panel: Emotional Intelligence is the other side of the coin in the in-house realm. Rollig - CLO Ma...
RT @FiLizbeth: Skills for the 21st century GC - leader, counselor, strategist #ACCAM13
RT @ACCinhouse: #ACCAM13 Krogh at today's lunch; Many factors could compromise a lawyer's integrity - in-house counsel must beware of threa...
RT @ACCinhouse: "One must not check their personal integrity at the door" for any institution or organization according to Krogh. #ACCAM13
RT @ACCinhouse: As legal depts. cope with increasing regulation, complexity & globalization, effective legal dept. mgmt is more vital than ...
RT @ACCinhouse: What advice do you recommend for in-house lawyers when making the leap from legal strategist to business strategist? #ACCAM...
RT @ACCinhouse: In-house lawyers are increasingly called upon to serve as more than a legal advisor. #ACCAM13
RT @LexMundi: Brian Facey, @BlakesLaw, @LexMundi Canada member, discusses multi-jurisdictional regulatory issues #LexMundiLA #ACCAM13 (sess...
The Perils of Keeping #FCPA Infractions Under Wraps - http://t.co/78vrnHNqqa (Andrew Ramonas) @ACCAM13
RT @LastHonestEsq: For those GC who couldn't make it to #ACCAM13, here are some EASY first steps to take to optimize your legal spend http:...
RT @LegalBusinessUK: Incredibly, a total of 3.8m new litigation cases were filed in the Brazilian cts in 2012, a 6.2% inc on 2011 #ACCAM13 ...
RT @deepthibathina: "The most serious mistakes are not being made as a result of wrong answers. The true dangerous thing is asking the wron...
RT @MShermanEsq: Wage hour cases: Gather self assessments of employees - usually describe themselves as having more managerial role #ACCAM1...
RT @PhilipFavro: #ACCAM13 - Scheindlin criticizes proposal to amend Rule 37(e), does not answer question re impact it would have on cross-b...
RT @MattNolanMi: "A release signed by an employee in Brazil isn't worth the paper it's written on." @ACCinhouse #ACCAM13
RT @LH_Legal500: "Identify what is driving legal spend in your organisation. Is it inside or outside? #ACCAM13
RT @LawCLECenter: RT @PhilipFavro: #ACCAM13 - @dominicjaar - #predictivecoding narrows data set to a manageable size; employee consent can ...
RT @LH_Legal500: "Benchmarking enables you to identify gaps, which means opportunities for new projects #ACCAM13
RT @LLMinc: It would be mistake to say you've figured out proportionality & delete something when preservation isn't as costly as other thi...
RT @MShermanEsq: Wage hour policies like social media policies for employees should include training. Don't just publish and forget. #ACCAM...
RT @WapoCat: Top lawyer for Hilton commercial services, on "proj management triangle": Scope, time, cost & quality. Can have 3 but not all ...
RT @PhilipFavro: #ACCAM13 - Scheindlin identifies changes to Rule 26, numerical reductions in #ediscovery in Rules 30,31,33,36 as cross-bor...
RT @PhilipFavro: #ACCAM13 - Scheindlin opines that proposed changes will generally have a positive impact on making cross-border #ediscover...
RT @MShermanEsq: Wage hour issues: challenge of having flexible work structure for employees, and making sure non-exempt employees follow r...
RT @LH_Legal500: "In-housers might wish to work out their own personal 'billable hour' - what is your average cost per lawyer hour?" #ACCAM...
RT @LegalBusinessUK: Director liabilities are a huge issue in Brazil, the ACC Brazil panel point out #ACCAM13 http://t.co/2CEyVTw1Sy
RT @PhilipFavro: #ACCAM13 - @dominicjaar - #predictivecoding narrows data set to a manageable size; employee consent can then be sought ove...
RT @TyMetrix: Why benchmarking for a large legal dept? Visibility with GC; Sets baseline for performance; Best in class efficiency globally...
RT @PhilipFavro: #ACCAM13 - @dominicjaar emphasizes importance of using #predictivecoding to identify, segregate personal data from product...
RT @ACCinhouse: Benchmarking to demonstrate value: #ACCAM13 session gives ideas for showcasing legal department accomplishments.
RT @JFBrashear: Attending session on Healthcare Privacy in the Era of Healthcare Reform. #ACCAM13 #HIPAA
RT @LegalBusinessUK: If you have a cyber attack incident what might your response plan and team look like? http://t.co/2CEyVTw1Sy #ACCAM13
Cyber risks panel (5)
Clearly one of the lawyers attending the session works for a government contractor and their employee has been sending information to Wikileaks. His somewhat niche question is, what do we do about it? Unsurprisingly, the panel have no suggestions for reversing what's been done. There certainly is a litigation case against the employee but once that information is 'out in the wild' it's gone.RT @twobirds: Don't miss: @twobirdsIP partner Allan Poulter presenting 'The Explosion of Non-Traditional Trademarks' at #ACCAM13 today!
RT @PhilipFavro: I'll be live tweeting from the "Overcoming EU Data Privacy Challenges in eDiscovery" session at the #ACCAM13 session
RT @ACCinhouse: #ACCAM13 session: benchmarking legal to demonstrate value
RT @ACCinhouse: #ACCAM13 attendees are on a break between sessions and mingling in the Exhibit Hall. Take a look! http://t.co/mAK453jRDS
RT @ACCinhouse: Couldn't make it to #ACCAM13 but curious about what's happening in LA? Check out footage from Monday's Exhibit Hall! http:/...
RT @chinaesq: If outside counsel is patenting, treat them as part of the team. Don't just "throw stuff over". Samsung learned the hard wa...
RT @MShermanEsq: Case management: with nuisance case, consider offer of judgment so can possibly recover costs and/or attorneys fees if re...
RT @MattNolanMi: "You are only ready to advance in your career once you've developed your successor." @ACCinhouse #ACCAM13
RT @MShermanEsq: Case management: Don't be myopic. Also look at long term costs in phases, when you can expect to get to trial, & possible ...
RT @SullivanLaw: @ACCinhouse True or false: The World Series was named by a corporate sponsor "New York World" in 1903. Win a World Series ...
RT @LH_Legal500: Inside counsel want to know from the very outset: who is on the team and what's their level of seniority. Litigation panel...
RT @HackettInHouse: #ACCAM13 - assessg litigtn exposure: which is best? estimate stage costs vs. all-in costs when matters extend for years...
RT @LH_Legal500: "And let's not even get started on tweeting." Yep, let's not. #ACCAM13
RT @LH_Legal500: "Ensure sensitive info is safeguarded on employees' smart devices" says litigation panel at #ACCAM13
RT @HackettInHouse: #ACCAM13 - evaluatg litigtn exposure: so many factors to assess, but Evan Slavitt's reminder: in many non-US jurisdictn...
RT @MattNolanMi: "As soon as possible" is not a deadline. Get a real deadline and prioritize. @ACCinhouse #ACCAM13
Cyber risks panel (4)
Another good question. If you have an incident what might your response plan and team look like?RT @gowlings: Davit Akman explores compliance prgms & investigations in "novel, refreshing" game show format at #ACCAM13: http://t.co/en4u0...
Cyber risks panel (3)
The questions are flowing, one audience member has concern over third party apps that employees may be using and collect company data that the company is unaware of.RT @andrewramonas: The Perils of Keeping FCPA Infractions Under Wraps http://t.co/iXTh8Q4pWQ #ACCAM13
RT @MShermanEsq: Key to initial case assessment is discuss w/outside counsel what business goals are for the company in the litigation. #A...
RT @MattNolanMi: 50hrs/yr developing your team is less than 5% of your time, but pays off! @ACCinhouse #ACCAM13
RT @HackettInHouse: #ACCAM13 - In-House Law Perf Reviews: if anyone is surprised by anythg by the time you get to a 1-on-1, you failed. Bot...
RT @HackettInHouse: #ACCAM13 : connctg perf measuremts to corp strat goals: who cares what lwyrs want to measure if it's not connected to w...
RT @strozfriedberg: "Companies and government entities are besieged" says Dave Garrett of @strozfriedberg #ACCAM13 #cybercrime
RT @chinaesq: Looking at Cybersource patent claim being invalid: mapping credit card data was something that didn't require computer to do....
RT @HackettInHouse: #ACCAM13 - Sessn 506 - now to the third rail of in-house prof devlpmt: connecting it to comp and competency...
@SullivanLaw @ACCinhouse Thanks - great shirt! Come on all #ACCAM13 attendees - try to answer the next question!
Cyber risks panel (2)
In the space of 20 years we have moved from annoying spam attacks through to viruses that were manageable, and then worsening with the advent of the hactivist and state sponsored hacking.RT @chinaesq: You need to be evangelist for your patent portfolio, which also means being able to communicate SIMPLY what patents you have....
RT @MShermanEsq: Case management: Manage how much & how often business people need to take time for speaking with outside counsel. #ACCAM13...
RT @ACCinhouse: #ACCAM13 participants learn novel ways to approach litigation, contain risks and costs with business mindset.
RT @chinaesq: Patent panel: Non monetary awards work well for inventor incentives, such as Oracles intranet page that lists # of patents. ...
RT @MShermanEsq: New litigation management: internal fact investigation, ID key documents, legal team staffing & do you have a "rocket" doc...
@SullivanLaw @ACCinhouse 2004 RS 4-0, 1967 SLC 4-3, 1946 SLC 4-3????
RT @MattNolanMi: Mgmt not just an art; also a science and CAN be learned/taught. @ACCinhouse #ACCAM13
RT @ACCinhouse: Coaching keeps employees engaged while helping them grow in their careers. #ACCAM13
RT @ACCinhouse: Coaching can take you and your law department to the next level of performance. #ACCAM13
RT @MattNolanMi: "You have to develop people. The team with the best players wins." @ACCinhouse #ACCAM13
Cyber risks panel
The global cyber risks session's panel comprises Risk Management Solutions' SVP and GC Eric Drattell; Stroz Friedberg's MD David Garrett; and Warner Bros Entertainment's senior counsel compliance and litigation Mark Krause.RT @ACCinhouse: Performance Management: Coaching Lawyers and Staff for Professional Growth #ACCAM13
RT @DentonsCanada: #Dentons' Eric Sophir to provide leading insight on #Patent Prosecution next at #ACCAM13
ACC discussion: cross-border M&A
It is no secret that cross-border M&A is on the rise. At an interactive ACC panel discussion yesterday, McDermott, Will & Emery's Byron Kalogerou was among the speakers handing out some tips on how to manage the process smoothly.RT @LegalBusinessUK: A drafty ACC conference hall is waking up, cyber security session coming up should be interesting if we don't freeze t...
ACC blog
A lively evening at the ACC generated some interested discussions on yesterday's sessions and what is surprising is the amount of creativity already seen in using alternative fee arrangements. As a result, the wider reaction to yesterday's panel session on AFAs erred towards 'we knew that already'.RT @LH_Legal500: 13 tips for successful legal department management in house http://t.co/yXha8pn7K9 #ACCAM13
RT @deanhager: Corps: Own your #ediscovery tech choice. Don't delegate decision to firms. Pick horse. Ride it. Continuously improve. #ArtTo...
RT @FiLizbeth: Speaking at the ACC annual meeting this morning on law department staff development, coaching and mentoring #ACCAM13
In case you aren't sure what session to go to today, full list of #ACCAM13 sessions for Tuesday is available here http://t.co/wXTfDVQHn6
RT @georgenbass: Looking fwd 2 speaking this a.m. on panel with J.Block and S.Loder about processes in lifecycle of contracts #502LifeofCon...
Morning #ACCAM13 attendees. Follow session notes, tweets, retweets and observations from the conference at http://t.co/XNkqYarp7H blog
RT @ACCinhouse: First full day of #ACCAM13 was a success! Here are some of the highlights: http://t.co/rrpF2CJoH5
ACC discussion: 13 steps to successful law department management
This afternoon's panel discussion on law department management was a popular one; every seat was full, many more were sat on the floor, more still were tuning in via a webinar. Here are some of our top picks from the discussion:RT @LH_Legal500: "Speed mentoring." Not a bad idea at all. Good way to get multiple opinions on an issue #ACCAM13
RT @LH_Legal500: Loads of good tips being shared. Look out for blog post covering the key points soon on http://t.co/Khh6LwtVvd #ACCAM13
There is an environment and fracking panel currently in session. Conferences always have too many "fracking panels" #ACCAM13
Environment and fracking panel
A promising disclaimer at the start of the session on fracking and the environment, the views expressed are those of the individuals not their companies.RT @LH_Legal500: Final topic of the day is law department management. Recent poll showed only 14% of CEOs think legal makes strong contribu...
RT @Conduit_Law: "@InHouse_Bern: Hourly billing rewards activity, not results. AFAs can be a boon for law firms, not threat. #ACCAM13" ful...
RT @MattNolanMi: Innovation comes not through brainstorming, but through collaboration and cross-pollinization . @ACCinhouse #ACCAM13
RT @PhilipFavro: #ACCAM13: need to strike a balance between employer security, employee needs to develop a reasonable BYOD security policy....
RT @PhilipFavro: #ACCAM13 BYOD: mobile devices are "designed for ease of use, not data security"-& they are becoming easier to hack/gain un...
RT @HackettInHouse: #ACCAM13 - too many senior lawyers doing junior level work
RT @HackettInHouse: #ACCAM13 - Better Dept Mgmt: Allstate's frustration w/firms that wait for dept. to ask (demand) better; why don't more ...
RT @klchildejd: Document it or it didn't happen (for demonstrating compliance, anyway) #ACCAM13
RT @PhilipFavro: #ACCAM13 BYOD: company loses control over its data.; could lead to spoliation, #ediscovery sanctions & other downstream li...
RT @klchildejd: The legal dept is not, in fact, in charge of ethics and compliance -- that's a corporate culture issue #ACCAM13
RT @PhilipFavro: #ACCAM13 - Remote Wipe Policy may be best practice, but employee consent may be needed to avoid violations of Computer Fra...
RT @HackettInHouse: #ACCAM13 - @HuronLegal panel: better law dept mgmt: when are you reactive vs proactive? settg a strategic agenda vs. pu...
RT @Apttus: New Live blog post from @ACC Annual Conference 'Contract Management Systems: Starting from Scratch' #ACCAM13: http://t.co/HVDbI...
RT @PhilipFavro: #ACCAM13 - increasingly difficult for IT to keep up, address growing availability of apps & functionality of SFF devices. ...
RT @PhilipFavro: #ACCAM13 - 81% of employees are using a mobile device in the workplace, whether permitted or not by the employer. #BYOD #e...
RT @PhilipFavro: #ACCAM13 - Only 12% of organizations plan to ban BYOD vs. 67% allow mobile devices to connect to company networks. #edisco...
RT @PhilipFavro: #ACCAM13 - Counsel need to think broadly about BYOD. Policy should address laptops, tablets, smartphones - even thumb driv...
RT @ACCinhouse: #ACCAM13 panelists share strategies for becoming "best in class" law department.
Protecting privilege panel (5)
Great question - 'this session was about when the government comes knocking, not if they send you a letter or politely request documents. What do you do if there's a raid?'Corporate Counsel 100 - Bob Marin, Panasonic
Vice-president and general counselRT @LH_Legal500: However, paperless is not always possible outside the US #ACCAM13
RT @LH_Legal500: Lawyers are advised to ensure dealings with antitrust authorities are paperless. The advice has been met with some surpris...
RT @ebillinghub: Yes, I confess! I confess! I'm checking my twitter feed while attending this session on mobile devices #ACCAM13
RT @LH_Legal500: "In a regulated environment, a proactive approach to investigation is always best and will be favoured by regulators" #ACC...
RT @georgenbass: corp security folks say dropbox is not as secure as other solutions (eg http://t.co/myI1JMYZbt or GoogleDrive) #307iPad4La...
RT @LH_Legal500: "Applying for leniency is one of the first things in house counsel should consider in cartel cases" #ACCAM13
Protecting privilege panel (4)
'The real reason behind the attorney-client privilege is to be a stabilising force not to create mischief. The government misses an opportunity when it assumes everybody is up to no good.' William Sailer, SVP and legal counsel of QUALCOMMRT @BrandonJDDC: According to an informal poll of the room, only 15% of the folks here are on Twitter. #ACCAM13
RT @MShermanEsq: Want to define what is confidential information for employees not to discuss - better for you and with #NLRB. #laborlaw #A...
RT @MShermanEsq: Word smithing employee handbooks to try and keep employees from discussing wages or other protected subjects isn't lost on...
RT @LegalBusinessUK: DoJ's Andre Birotte says if all documents seized are marked privileged it makes them 'concerned' and 'suspicious' #ACC...
RT @LLMinc: iPad for attys- Roya Ewing says twitter is a great place to get an up to the minute feed from thought leaders in your industry....
RT @deepthibathina: "Twitter allows you to customize a stream of information from anywhere in the world of business and beyond" social medi...
Protecting privilege (3)
Andre Birotte DoJ maps the history of the government encouraging companies to waive privilege. 'The government's interest is in finding the truth.' The Philips memo sets out the prevailing understanding.RT @InHouse_Bern: Legal Process Outsourcing success: Prioritize. Assess. Define. Document. Train. Test. Monitor. Rinse. Lather. Repeat. #AC...
Protecting privilege panel (2)
Andre Birotte US DoJ: we're constantly checking the wires and get information from a multitude of sources and we have to check them out.Protecting privilege panel
If the Wifi holds we'll be bringing you the highlights from the session 'protecting privilege when the goverment is at the door' hosted by US department of justice lawyer Andre Birotte; Kevin Mann VP and associate GC for The ServiceMaster Company; William Sailer SVP and legal counsel QUALCOMM and Evan Schultz senior counsel and director of advocacy at the Associate of Corporate Counsel.RT @LH_Legal500: Big turnout for the compliance discussion using 'who wants to be a millionaire' format #ACCAM13
Corporate Counsel 100 - David Jaffe, Guardian Industries
Vice-president, general counsel and secretaryRT @ACCinhouse: When wrongdoing comes to light, in-house counsel are called upon to manage and direct company's response. #ACCAM13
RT @LegalBusinessUK: ACC delegates are rebelling against lunch tables organised by jurisdiction. On the Aus table were lawyers from Israel,...
RT @georgenbass: listening 2 Suzanne Folsom, SVP, GC & Chief Compl of Academi, formerly Blackwater Security, on compliance programs & ethic...
RT @KeithMunsonEsq: chairmans's choice seminar fixing arbitration insightful. Someone at my table said ABDA Services dot com Rules fixes ma...
ACC discussion: cyber snooping
At an ACC session today, a group of in-house lawyers discussed the issue of how far lawyers should go when it comes to cyber snooping:#ACCAM13 networking lunch - you have to sit with people from your region. Isn't controlling where people sit anti-networking?!
RT @LexMundi: Catriona Munro, @MMS_Law, @LexMundi member for Scotland, addresses managing bribery investigation #LexMundiLA #ACCAM13 (sessi...
More GCs Cutting Costs By Reducing Outside Counsel Work http://t.co/6z2CwJ9koB #ACCAM13
RT @LegalBusinessUK: Overriding message coming out of the alternative fees meeting? If a firm can't predict their fees to a great extent sw...
What lawyers put in their website bios versus What people want to see in lawyer bios http://t.co/p9uANk8ylT #ACCAM13
@thelegal500 us editor @LH_Legal500 is reporting from the sessions. Come by booth 324 or follow at http://t.co/LMRrsueeIO #ACCAM13
#ACCAM13 panel on compliance programs & investigating potential wrongdoing @gowlings just told me it's being done as a game show #mustattend
RT @LH_Legal500: If a subsidiary is sold, who keeps the attorney client privilege? Discussion at #ACCAM13
RT @LLMinc: ABA model rule 1.5: fees need to be reasonable-can't induce atty to stop services contrary to clients' best interest. Ethical #...
RT @JCPartridge: Ethical considerations abound when creating AFAs, though they are not always obvious. #ACCAM13
RT @LH_Legal500: Apparently we shouldn't use free wifi due to the risk to privileged info. Oops, I'm using it on 3 devices right now #ACCAM...
RT @MShermanEsq: "One size doesn't fit all" 4 EU privacy policy. Draft localized policies 4 countries where most business (local in house c...
RT @MShermanEsq: Website terms of use=contract. Boilerplate risky. Don't assume English speaking only users. Have int'l customer service ...
RT @JCPartridge: Interesting discussion re pros and cons of shadow bills in AFAs. Would love to hear opinions of others in the twittervers...
RT @LH_Legal500: "Lawyers have a duty of competence to know how electronic communication works" esp when it comes to juror research.#ACCAM1...
RT @WapoCat: VP of gov investigations at Medtronic: AFAs may not save $, but it brings certainty in legal spending, which is just as valuab...
RT @MattNolanMi: @ACCinhouse Dr. Edward Sun about to speak re: Chinese anti-monopoly law's impact on distribution. #ACCAM13
RT @WapoCat: AIG top lawyer: Law firms built on hourly model must change the way they do business before AFAs can be successful from a firm...
RT @LH_Legal500: A: one. And its California! (Most of audience thought it was Texas). #ACCAM13
RT @LH_Legal500: Q: how many states don't currently follow at least one of the ABA 20/20 propsals? #ACCAM13
Alternative fees panel
Panel discussing how to create alternative fees includes Eric Cohen, senior Vice President (SVP) and GC of Terex Corporation; Domenick DiCicco, SVP and global head of claims legal at AIG; and Joan Humes, Vice President, government and internal investigations at Medtronic.RT @ACCinhouse: The job of in-house counsel has become more global and fluid, but ethics laws still read like they come from dusty books #A...
RT @AdrienneMeadEsq: Fun stat: 42% say "yes" theme had past contract disputes on contract representations. #ACCAM13
RT @JCPartridge: Alignment of interests between client and law firm is critical early step in successful AFA. #ACCAM13
Corporate Counsel 100 - Kent Walker, Google
Senior vice-president and general counselRT @LH_Legal500: In-house counsel: how to do your job without getting into trouble. Attending ethics session at #ACCAM13
AFAs: the devil is in the details, says Domenick DiCicco. #ACCAM13
RT @ACCinhouse: #ACCAM13 Clowns to the Left; Jokers to the Right: How to Negotiate Contracts Internally and Externally
RT @JCPartridge: Looking forward to the session on Alternative Fee Arrangements at #ACCAM13, which should start any minute.
Risk assessment panel (4)
It's important to put in place a risk scoring system and embed that in the culture of the company. When conducting interviews to assess risk, the panel recommends conducting interviews across different seniority levels - everybody has a different perspective and you need to cover all the ranges. Risk should be prioritised from high to low - start with red and work your way down until you get to green. A member of the audience asks the panel how to manage the different priorities of the board in agreeing a plan. According to Folsom, if the process has been managed well there will no doubt be lots of questions and healthy debate at board level, but it should be evident what needs to be done. 'I have not personally encountered people so opposed that we can't come to a resolution.'Risk assessment panel (3)
In addition to black and white regulations and law, when conducting a risk assessment it's important to consider factors including industry benchmarks, previous enforcements, the risks and issues faced by your competitors and past problems your own company has addressed.ACC: Risk assessment panel (2)
Lee Braem is in the chemical industry where the chemical risks are heavily controlled. 'What keeps me up at night is some other risk we don't have controlled and marshalling resources to ensure it doesn't happen down the line.'Corporate Counsel 100 - Larry DeRespino
General counsel – U-HaulRT @klchildejd: Risk assmt panel asked if anyone in audience had too much money/was overstaffed. Shockingly, no one raised a hand. #lawyer...
ACC: Risk assessment panel
Lee Braem, senior corporate counsel and chief compliance officer for Evonik Corporation is discussing conducting a risk assessment on a panel that also includes Suzanne Folsom, executive vice-president, chief compliance office and general counsel of ACADEMI and Brian Sumner, counsel at Alcoa.RT @ACCinhouse: One size does not fit all; A company's compliance program should be industry and company specific. #ACCAM13
RT @MShermanEsq: So much stored in cloud on social media networks so device storage security concerns being passed by bigger issue of data ...
RT @MShermanEsq: 45+ and 55+ year olds fastest growing users on FB and Twitter #ACCAM13 #socialmediamainstream
RT @JFBrashear: Speaking at #ACCAM13 on social media in the workplace. #SMLaw http://t.co/k2s0vIKvCv
RT @Georgetz2: @Georgetz2: Speaking on legal ethics and other issues in social media at #ACCAM13 , already filling up.
@zakmahshie GC @ExcellaCo "small businesses need big law firms to deliver cost-effective solutions that address all of my legal problems"
Bob Barrett, ACC Degremont Tech: "in house legal teams in the US are growing moderately in size and significantly in status" #accam13
Who are the leading Labor & Employment firms in the US? Come by stand 324 to find out who your peers rate #ACCAM13
RT @LegalBusinessUK: Bob Barrett ACC Degremont Tech says in house legal teams in the US are growing moderately in size and significantly in...
Nathan Jaye, of AutoLoop: "Law firms need to be more flexible when it comes to billing" #ACCAM13
RT @LegalBusinessUK: The outgoing corporate counsel of LNR Property Shahram Siddiqui says ACC is a chance to compare best practice on issue...
Jim Brown, GC of Infilco Degremont: "Law firms need to find better alternatives to the billable hour for small companies" #ACCAM13
"Outside counsel should be more practical, not academic" says Farina Rabbi, Senior M&A counsel for PETCO Animal Supplies #ACCAM13
Gemma Dreher, AGC of Velcro Group: "My decisions these days are driven by relationships" #ACCAM13
@thelega500 sponsored event last week: Can law firms create value for their corporate clients: http://t.co/grqvQCZOVz #ACCAM13 Booth 324
Want to know who are the 100 most innovative of your peers - well, we do, so come by at 5.30 to booth 324 to find out! #ACCAM13
#ACCAM13 attendees - which law firms should you use? 2.5 million buyers of legal services use us - find out why at booth 324
RT @LH_Legal500: Lovely morning spent in Santa Monica with Caroline from @LegalBusinessUK. Now need a power nap before #ACCAM13 kicks off!
The 10 best legal wrangles in music: http://t.co/DtxtP8FIxv #ACCAM13
"No one here dreams of being a doctor or a lawyer or anything" - RIP Lou Reed #ACCAM13
Merger talk: Orrick and Pillsbury, and Patton Boggs and Locke Lord - consolidation in the AmLaw 200. How will clients react? #ACCAM13
Full list of #ACCAM13 sessions are available here http://t.co/wXTfDVQHn6
Corporate Counsel 100: Steven Greenspan
Associate general counsel, litigation – United Technologies CorporationTip from GC at NFL: face time with law firms is a plus - be it lunch, dinner etc. Get to know our team. #ACCAM13
Tip from GC at Colgate-Palmolive: Law firms, don't be reactive to our needs. Be proactive. #ACCAM13
Corporate Counsel 100
For over 25 years, The Legal 500 has been analysing the capabilities of law firms across the world. In a new series, The Legal 500 is turning its attention to the in-house function, and recognizing those corporate counsel who are driving the legal business forward. Up first is the Corporate Counsel 100: United States, which identifies the most powerful corporate legal advisers in the United States.We've arrived in Los Angeles for the ACC - follow us and @LegalBusinessUK reporting from the sessions using #ACCAM13
Sponsoring @LMA_NY event tomorrow. Value - the Key Differentiator: How GCs Define It - come by and see us
Competitive Collaboration
Seyfarth Shaw@thelegal500 will be reporting live on the website from @ACCinhouse Annual Conference, so wherever you are in the world, follow all the news
So, @DB_Legal500 is in New York this week for the LMA General Counsel lunch followed by a trip to LA for @ACCinhouse conference
Some nice press for the #legal500 in November issue of @BusinessMK @AndrewGibbs8. Read it now http://t.co/Creb2JMxw1
@legalcheek We couldn't possibly comment!
Read Richard Tresidder's guide to Nottingham's #legal500 market in @Nottingham_Post at http://t.co/2vRLIr9tjH
For over 25 years, The Legal 500 has been analysing the capabilities of law firms across the world. In a new series, The Legal 500 is turning its attention to the in-house function, and recognizing those corporate counsel who are driving the legal business forward. Up first is the Corporate Counsel 100: United States, which identifies the most powerful corporate legal advisers in the United States.
We have canvassed opinion from our 2.5 million in-house readers and partners at law firms across the US, to bring you the 100 in-house stars that are driving the profession. The selection criteria is based on those corporate counsel who are changing or forming opinions within their company or industry; have developed brilliant technical solutions to complex issues; created innovative structures to ensure that the in-house function is driving the business forward; provided a diversity or business working model that other corporate counsel should follow. Click here to read more...
The Legal 500 United Kingdom
LONDON - Corporate and commercial
UK M&A continued to feel the effects of global volatility and the eurozone’s sovereign debt crisis, with reported deal values in 2012 down 66% on the heady days of 2007. Year on year, UK M&A activity saw a 5.1% increase compared to 2011, with the energy, mining and utilities sectors proving to be the most active. Inward foreign investment accounted for the lion’s share of UK M&A in 2012, and the BRIC nations are still outperforming the eurozone economies in terms of M&A activity, with law firms with strong global platforms continuing to leverage that capability to chase down deals. London remains strategically important to US law firms doing deals in Europe and beyond, as evidenced by the recent spate of lateral hires from the Magic Circle. The picture for 2013 remains uncertain; although the first quarter saw an increase in value compared to Q1 2012, deal count was down.
The Legal 500 United Kingdom
SCOTLAND
While almost every legal market in the UK has experienced a degree of turbulence, Scotland saw an arguably unprecedented rate of change in 2012 and into 2013. The news in March 2013 that Semple Fraser LLP was calling in the administrators was indicative of the challenges faced by mid-tier firms in particular.
The Legal 500 United Kingdom
LONDON - Finance
Liquidity levels remained patchy for 2012, not least because of the increasing regulatory demands on banks to shore up their capital reserves to comply with heightened capital adequacy requirements. For the right assets, banks were very willing participants and provided debt on relatively favourable terms; however for most leveraged deals, borrowers had to rely on other methods to shore up the shortfall in financing. Alternative debt providers, such as hedge and mezzanine funds, are increasingly popular, but it was the high yield market which provided the biggest impetus and established itself as the most prevalent structure on European new-money leveraged finance deals and also on the refinancing of existing debt.
The Legal 500 United Kingdom
WEST MIDLANDS
2012 was another challenging year for law firms in the region; deal flow for larger and more complex transactions remained patchy, against the background of continuing low liquidity and confidence in the market. Firms with an international platform tended to fare better than firms which are reliant on regional or national work.
The Legal 500 and Venable LLP held a roundtable discussion with six GCs from a variety of industry sectors in Washington DC. Topics that were discussed included alternative fee arrangements, retention of in-house staff, budgetary pressures and relationships with law firms. The full transcript of the roundtable discussion is available to download here. If you have any comments on the topics discussed, please email david.burgess@legal500.com
The Legal 500 is conducting its first global survey of how corporate counsel and law firms use The Legal 500. We would be grateful if you could spend 10 minutes answering the survey questions to aid us in improving our research and how we deliver it. Click here to give us your feedback.
Now available: The Legal 500 Historical Data – a new interactive service available exclusively to commercial partners. The site contains historical rankings from 2008-2013 from The Legal 500 United Kingdom, United States, Europe, Middle East & Africa, and Asia Pacific. Users are able to manipulate the raw data to produce and download reports including comparing and contrasting your firm with your peers and competitors, and customising data which can be used in pitch documents and RFPs. Visit www.legal500.com/historicaldata for more information.
The Legal 500 United Kingdom
LONDON - DISPUTE RESOLUTION
London remains a strong international hub for dispute resolution, and has seen an overall increase in the number of large cases reaching court. The London courts are particularly popular with foreign parties, especially from Russia and the CIS region. The Middle East and Africa are also increasingly generating work for London’s dispute resolution lawyers.
The Legal 500 United Kingdom
SOUTH EAST
Law firms continue to face a multitude of challenges from alternative business structures (ABSs) and legislative reforms, as well as seeing a squeeze on fees from both commercial and private clients. The changes in the market are being felt particularly among the smaller regional firms and boutiques, some of which are not only reassessing the practice areas in which to specialise, but also considering the provision of non-traditional/non-legal services such as consultancy and project management.
The Legal 500 Latin America
BRAZIL
It is certainly clear that, while Brazil remains an attractive investment option at a global scale, it has lost a little of the allure acquired when the country was initially identified as one of the BRIC group of key emerging economies, and subsequently went on to be awarded the FIFA World Cup and the Summer Olympics. While the Brazilian economy continued to grow during 2012, its slowing from 2010’s heady 7.5% to less than half that last year did not promote a perception of economic well-being; the first quarter of 2013 saw continued poor performance with growth of just 0.6%, although annual forecasts project a better year than 2012.
The Legal 500 Latin America
CHILE
Chile’s sustained growth, minimal unemployment rates and economic optimism ensured a healthy flow of big-ticket investment transactions, mergers and IPOs during the course of 2012. The propitious business environment fuelled a thriving legal market which was also accompanied by a number of significant legal developments.
The Legal 500 Latin America
MEXICO
The ‘Mexican moment’ shows no sign of passing: proximity to the US and rising labour costs in China have seen Mexico regain viability as a manufacturing base, foreign investment continues to grow and the country has a significant role in international trade, with exports matching the whole of the rest of Latin American put together. Capital markets activity has seen a significant boost, with the rise of FIBRAs (the Mexican equivalent of a Real Estate Investment Trust), AFORES (pension funds) and CKD issuances (a structured equity security instrument).
The Legal 500 Latin America
COLOMBIA
Colombia has undergone far-reaching social, economic and political transformations over the course of the last decade and these processes continue. While foreign business interest in Colombia remains very healthy, the strength of economic activity forecast has not fully materialised due to a number of factors. Perhaps foremost is the limited number of new infrastructure projects actually initiated, robbing the economy of a motor that would have driven both economic and legal activity in multiple sectors. It remains to be seen if these will begin before elections scheduled for mid-2014. Mining sector activity, too, has remained limited, awaiting the establishment of an effective new regulatory and administrative body. The government has been far from idle (see the reforms, below), but has also had the extraordinary distraction of peace talks, upon the success of which, the country’s medium-to-long term growth and security depend. Despite these difficulties, the business market –and with it, legal activity– has remained relatively dynamic, with considerable transactional activity, such as Carrefour’s $2.6bn sale of its Colombian holdings to Cencosud, holding centre stage.
The Legal 500 United States
FINANCE
The market for asset finance continues to improve, particularly for the aviation side. The market is finding room for increasingly innovative products, including the use of Enhanced Equipment Trust Certificate (EETC) structures, as well as a greater number of asset-backed securitizations. The need for innovation has ensured a continued flight to quality when it comes to which law firms get instructed. Those with strong client bases among export credit agencies and aircraft lessors report robust activity. The picture is more bleak for the ship finance side, which remains in the doldrums. Nevetheless, the distressed nature of the industry has attracted work from clients in the private equity and hedge fund industry.
The Legal 500 United States
LITIGATION
If international arbitration is ‘the dispute resolution method of choice in a globalising world’, then the burgeoning workload is the subject of ever increasing competition. More and more firms are focusing on the sector, increasing the competition for talented and experienced practitioners, even as novel funding models, such as third party financing, continue to drive overall volume. In the US, the imminent retirement of many key players of the generation that saw the practice comes to prominence is likely to cause shifts in the market.
The Legal 500 United States
INDUSTRY FOCUS
Baker Botts L.L.P. is ‘one of the premier firms’ and has a large and experienced energy litigation team, split across Houston and Washington DC as well as Moscow. The group ‘gets the job done’ and is complemented by a strong regulatory practice. The firm is best known for its comprehensive oil and gas expertise at state and federal level, and is handling an increasing number of high-profile disputes in the shale sector. William Kroger, who was appointed department co-chair in 2012, is advising Murphy Oil Exploration & Production and Marathon Oil in two discrete, wide-reaching disputes concerning their investments in America’s largest crude oil shale play at Eagle Ford, Texas. Kroger and Travis Sales are representing Shell and BASF Corporation in disputes with PEMEX, Mexico’s national oil company, which alleges that these and other US companies purchased hydrocarbons stolen from Mexico and smuggled over the border. The firm’s presence is growing in the electricity market and Brooksany Barrowes is representing the Midwest Independent System Operator (MISO) transmission owners in opposing controversial utilities’ proposals pertaining to the issue of power portability. Fellow department co-chair Mark Robeck and Greg Copeland, who is ‘one of the best energy litigation lawyers’, continue to defend Reliant Energy against allegations of price manipulation during the 2000-01 California energy crisis. Macey Reasoner Stokes is leading a team representing CenterPoint Energy Houston Electric in its appeal regarding rate changes. The practice is also increasingly active in mining, technological and environmental disputes: it represented BP Alternative Energy in a nuisance claim relating to the construction and operation of a wind farm, and the possibility of a larger wind farm being built nearby in northern Texas. Other clients include Ameren Corporation, ExxonMobil, Enbridge, GenOnEnergy, Repsol Energy, Jones Energy, and Hydro-Québec. John Anaipakos and senior associate Jason Newman are recommended. Elaine Walsh joined the practice from Kirkland & Ellis LLP and Russell Lewis was promoted to the partnership.
The Legal 500: Europe, Middle East & Africa
GERMANY
In 2012 the effects of the financial crisis were still keenly felt by the legal profession, and exacerbated by ongoing problems in the Eurozone. Competition remains tough, particularly among the leading firms, and after the demise of Howrey LLP the market lost another major international law firm when Dewey & LeBoeuf LLP ceased to exist. Meanwhile, clients who are exposed to growing requirements in the fields of compliance, risk management and corporate governance are, in turn, becoming ever more demanding with a consequent pressure on fees.
The Legal 500: Europe, Middle East & Africa
FRANCE
As clients’ needs change and become more sophisticated and more demanding of added value, many leading law firms in France are abandoning the full-service and departmental business model to focus on core practices. This has benefited local medium-sized and niche firms with dedicated expertise. Real estate is the latest example of this market trend, with high-profile teams leaving Freshfields Bruckhaus Deringer LLP, Clifford Chance and Salans in 2012.
The Legal 500: Europe, Middle East & Africa
THE NETHERLANDS
The Netherlands is in a relatively stable position compared to other advanced economies, with a strong export position and friendly tax regime. The eurozone crisis and the EU were issues dominating the 2012 national elections, the results of which reflected a need for a stable, moderate government.
The Legal 500: Europe, Middle East & Africa
SPAIN
Spain’s ongoing economic difficulties affected law firms with continued downward pressure on fees. Market conditions dictated fewer transactions, but this was counteracted by a boom in areas such as litigation, arbitration and restructuring. Big-ticket private equity deals and IPOs virtually vanished. Government tax reforms led to increasing demand for tax-related advice, and employment law and insurance continued to be hugely active areas.
The Legal 500: Europe, Middle East & Africa
PORTUGAL
Portugal remains in the throes of a deep financial crisis. Despite the €78bn bailout that the country received in 2011 from the troika group (comprising the IMF, the EC and the ECB), times remain very difficult for the country. As decreed by the Memorandum of Understanding, Portugal began a series of privatisation procedures, and this has generated a substantial flow of work for law firms, advising interested bidders. Firms involved included Linklaters LLP, Morais Leitão, Galvão Teles, Soares da Silva & Associados, PLMJ Law Firm, Serra Lopes, Cortes Martins & Associados and Vieira de Almeida & Associados, as well as the key Iberian firms. The long-term effect of these privatisations and the presence of new investors, particularly from China, remains to be seen, but Portugal’s economic identity has changed significantly. Forthcoming privatisations include those of the airline TAP, and airport management company ANA – Aeroportos de Portugal.
The Legal 500: Europe, Middle East & Africa
SWITZERLAND
Switzerland’s legal hubs are Geneva and Zurich, with Zurich housing the largest number of law firms. Basel, Bern, Lugano and Lausanne are also key legal centres, albeit smaller.
The Legal 500: Europe, Middle East & Africa
SOUTH AFRICA
In South Africa’s highly fluid legal market, lateral hires are commonplace. The market was further altered by a number of law firm changes, notably with Baker & McKenzie entering the South African market in 2012, taking over a team from the defunct Dewey & LeBoeuf (PTY) Ltd’s Johannesburg office. It followed this by acquiring Johannesburg litigation boutique Rudolph Bernstein & Associates. A number of mergers completed in early 2013: these included ENS (Edward Nathan Sonnenbergs) joining with Brink Cohen Le Roux, and Canadian firm Fasken Martineau DuMoulin LLP merging with leading mining and project finance firm Bell Dewar.
About the Legal 500 series
Published for over twenty years, the Legal 500 Series provides the most comprehensive worldwide coverage currently available on legal services providers, in over 100 countries.
Used by commercial and private clients, corporate counsel, CEOs, CFOs and professional advisers - as well as by other referrers of work both nationally and internationally - the series is widely chosen for its definitive judgement of law firm capabilities over publications such as those compiled by Chambers and Partners or Martindale-Hubbell.