Graduates celebrating graduation

Graduates celebrating graduationIn the business of law, clients are perennially looking for lawyers who offer the most value for money. Some graduates and aspiring lawyers will find they are called upon to be possessed of skills beyond their traditional training in order to get the positions they are after.

Signing a legal document

Signing a legal documentVirtual firms, or contract law firms, have been established in the US for several years at this point, and their presence is becoming more commonplace in the UK. This relatively new model offers more flexibility and lower overheads than traditional approaches to instructing legal teams.

Recent activity in Law firm mergers

Mergers have been a sort of default strategy for partnerships unmoved by alternatives – or rather moved by the prospect of enhancing cash flow. It is a trend that persists, with a number of London-headquartered firms looking for opportunities.

Becoming a partner in a limited liability partnership

Becoming a partner in a limited liability partnership is arguably the pinnacle of a junior associate's aspirations, but while all partners are equal, some are certainly more equal than others. A complex three-tier partnership system has developed, in part, to reduce tax bills. Now, however, changes to the law that were first introduced in 2014 are seeing many firms change their structure. The most immediate result is that some junior partners are having to cough up significant sums to stay in the club.

Why are Law Firms still talking about mergers?

Earlier this year when it was reported that the UK's Berwin Leighton Paisner (BLP) and Miami's Greenberg Traurig were in talks over a potential merger, it seemed to fit. Both firms have thriving real estate practices and transatlantic ambitions. It could have represented the first UK/US merger since Norton Rose and Fulbright & Jaworski in 2013. In the event the firms let the discussions fall away for an eminently sensible reason; Lisa Mayhew, managing partner at BPL explained that 'basically we could not find enough common ground'.