GC California Magazine
Little needs to be said about the constantly increasing cost of outside counsel, and there is little hope that the economic downturn will do anything more than temporarily slow the increases. Moreover, the slow economy will step up the pressure on companies to reduce their legal costs. Therefore, it's no surprise that many companies are considering moving more legal work in-house. Consultant Michael C. Ross examines some key issues for companies to keep in mind when deciding whether to make the transition.
The Corporate Counselor
Three Delaware opinions confirm that the controversial practice of spring-loading options -- the granting of options just prior to the release of favorable company information -- may give rise to a breach of fiduciary duty claim. The decisions reveal the analytical framework that courts will likely use when deciding future claims. These early signals should be heeded by in-house counsel dealing with changes to equity-based executive compensation plans, say attorneys Thomas J. Quigley and Steven S. Flores.
Legal Week
The corporate world has truly been turned upside down when the press-friendly dealmakers are edged out of the headlines in favor of more intellectually minded colleagues in financial services regulation. Much of that has to do with the more proactive position by the Financial Services Authority, says commentator Georgina Stanley. But despite skepticism regarding the FSA's hard-line stance, it seems likely the regulatory body will have to follow through on some of its rhetoric.
The Recorder
Ross Nadel, the former criminal chief of the San Francisco U.S. Attorney's Office who founded and led the highly regarded Computer Hacking and Intellectual Property unit before joining Cooley Godward Kronish, has gone to Adobe Systems to be senior legal counsel of worldwide anti-piracy. He said he liked Cooley, but the gig at Adobe, with its distinct mix of enforcement and cybercrime, was too appealing. Most big software companies have at least some in-house lawyers working to track down software pirates.
Corporate Counsel
These are heady days for Chinese Internet companies, which are emerging from assembly-plant anonymity to fashion their own distinct identities. Just this winter China passed the U.S. as the country with the most people online -- 220 million. Though there are still plenty of impediments that inhibit e-commerce in China, Chinese Internet companies are poised for even better days ahead. And the Alibaba Group -- the parent of Alibaba.com -- is arguably China's most impressive Internet outfit.
The National Law Journal
John Whealan, deputy general counsel for intellectual property law and solicitor for the U.S. Patent & Trademark Office, has joined the faculty of George Washington University School of Law as associate dean for intellectual property. Whealan had been PTO solicitor since January 2001. As the solicitor, he managed an office of 25 attorneys who represent the PTO in all federal court intellectual property litigation, and provide legal and policy advice to the rest of the PTO.
Fulton County Daily Report
The subprime mortgage meltdown is putting a strain on other types of lending for consumers and businesses, according to Donald C. Lampe, a banking and financial services attorney with Womble Carlyle Sandridge & Rice in Charlotte, N.C., who is scheduled to present a program on the topic for the Association of Corporate Counsel Georgia chapter on Tuesday. Lampe said he plans to discuss the mortgage crisis and how it developed, plus its ancillary effects and the future.
The Legal Intelligencer
Philadelphia Bar Association Chancellor Mike Pratt has asked the general counsel of two universities, a health care company, a telecommunications company, an energy company and a utility company to jointly sign letters in support of the bar association's Raising the Bar Higher fundraising campaign because these entities are "the biggest employers of outside legal services. We would like their support in reaching out and encouraging other law firms to join the campaign."
The Legal Intelligencer
It's one of the last frontiers Gerald J. Pappert has left to conquer in the legal profession. He worked in government as state attorney general from 2003 to 2005 and has represented large companies as a partner in Ballard Spahr Andrews & Ingersoll's litigation department since then. Now he will join Cephalon as executive vice president and GC. Pappert said he's excited to exercise the business knowledge and leadership capabilities his experience in government and private practices have instilled in him.
