April 05, 2009
Desperately Seeking Value For Clients.
Four 'down-economy' questions:
1. After the economy stabilizes, "should associates pay their law firms in the first two to three years?"
2. American law schools need to step up--or get out of the way. Why not bottle up students for only 1.5 years--and then release them so they can learn something about lawyering? Isn't it time to shorten classroom legal education, and let Law-Firms-That-Teach be paid for--or at least not have to pay for themselves--what they give to young lawyers?
3. In the short-term, when Big Clients find out they were being charged in excess of paralegal rates for high-priced associates-in-training to do paralegal work, will those clients sue for the difference? Lots of great class action firms out there. Talk about strange bedfellows--and novel clients for the dreaded Rule 23 Royalty.
4. Restitution is the millions would be in play. But is there money left in the law firms to pay for the judgments?
Posted by Holden Oliver (Kitzbühel Desk) at April 5, 2009 05:20 AM