LEGAL
The Insider: In-house counsel “to do” list for 2016
I was in-house counsel for over 20 years. One of the hardest tasks I recall was the yearly goal-setting process for the legal department, both as a member of the department and as general counsel for two companies. To me, it feels like there is something inherently difficult about setting legal department goals when probably 75% of what attorneys will work on in the upcoming year is still unknown and won't really be knowable until it appears on their plates. Despite these particular limitations, it is possible to create a useful and measureable set of goals for legal.
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Top 10 articles of 2015
As the New Year kicks off, it's the perfect time to reflect on the past year and the challenges and opportunities it presented. Here you will find the top 10 Corporate Counsel Connect articles from 2015 – a diverse collection of what meant most to you over this past year, from FINRA rulings to diversity in the profession to selection of expert witnesses and tips on professional development.
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Measuring the effectiveness of the contracting process
The primary measure of performance in the contracting process is whether or not the final contract clearly and completely delineates the intent of the parties with respect to the particular transaction. It is not sufficient for the parties to have good ideas about the goals and purposes of the relationship if the contract does not provide a clear and unambiguous road map for the parties to follow in order to achieve their objectives. In order to prepare an effective contract, counsel must fully understand the key details of the transaction.
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6 creative ways to stay relevant in the job market
In today's competitive legal market, lawyers are more disposable than ever. According to the Report on the State of the Legal Market by Georgetown Law and Peer Monitor, “The legal market has become much more intensely competitive than it was five years ago.” And according to a recent article in the American Bar Association's Bar Leader, the legal market has lost 54,000 jobs since 2004. With fewer jobs and more competition, companies know they can expect more and pay less.
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A global view: Jim Merklinger discusses results of ACC's Global Census Survey
A mere decade ago, the word “cybersecurity” was left to the world of science fiction, and the economic downturn was as of yet unseen. How these times have changed – as is well illustrated by the Association of Corporate Counsel's recent Global Census, an international view of in-house counsel. The decade-long timespan of this survey is remarkable and a few trends consistently emerged, including the increasing amount of work that remained in-house, and attitudes regarding professional development. Corporate Counsel Connect had the opportunity to speak with the ACC's own Vice President and Chief Legal Officer, Jim Merklinger, regarding these results.
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State or federal court for securities lawsuit? Court seems to favor the former
At the beginning of December, the Supreme Court heard oral arguments in Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Manning, a case with major securities law implications. The case involves a federal jurisdictional question pertaining to securities law violations. Despite the relatively academic-sounding subject matter, the case could have major implications for securities law plaintiffs going forward. The specifics of the case aren't really at issue; instead, the Court will be resolving the question of whether it belongs in state or federal court.
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Are you TCPA compliant?
The Telephone Consumer Protection Act was originally intended to protect consumers from aggressive telemarketers. The TCPA, however, has been used more broadly as a tool by plaintiffs' lawyers and regulators alike to address much more than telemarketing. The TCPA regulates, among other things, businesses calling or texting consumers on their cell phones using an autodialer or artificial or prerecorded voice, as well as certain calls to landlines using an artificial or prerecorded voice.
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Business transparency in the fight against financial crime
Corporate vehicles are used in a variety of ways for legitimate business activities. However, they also form an attractive way for criminals to disguise and transfigure the proceeds of their crimes. Their illicit uses include laundering the proceeds of crime, facilitating tax avoidance, as well as other financial crimes. In order to circumvent regulations and legislative controls, corporate vehicles can be misused to disguise the identity of criminals and the true source of their funds or assets.
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Antitrust compliance programs; IP and data protection issues for 2016; New audit rules for partnerships
Learn about the DOJ sentencing memorandum that highlights how companies can mitigate antitrust risk through effective antitrust compliance programs, plus the major IP and data protection issues anticipated in 2016. Finally, read about the recent legislation that has significantly changed the rules for partnership audits, making it easier for the IRS to audit partnerships.
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Top 10 ways to know it's time to employ technology in your legal department
Small but growing legal departments often struggle to define exactly when it's time for them to invest in technology. There can be significant time and costs associated with adopting technology, so getting the technology much too soon can waste these precious resources. However, waiting until it's much too late and problems have grown out of control can be infinitely more costly. Below is some practical advice for when it may be time for a legal department to invest in technology that allows its attorneys to serve clients better, become more efficient, and save money.
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