Domestically, with the impact of the Obama administration's strengthening of the National Labor Relations Board, as well as new legislation such as the Patient Protection and Affordability Care Act (124 Stat. 119, et seq.) and the pending American Jobs Act (S. 1549; H.Doc. 112-53; and H.R. 12), labor and employment matters and related litigation are also expected to rise. In order to meet the demand of litigation created because of the current administration's efforts, as well as a broader awareness of employee rights in the workplace because of the weakened economy, lateral hires will be required to handle the legal work.
Globally, with China's slowing economic growth and Europe's debt crisis, the effects of such nations' financial status on the U.S. marketplace is unpredictable, leading to very conservative business approaches for companies domestically. In light of such, there is little optimism with regard to an increase of transactional and corporate work at the largest firms. Mergers and acquisitions lessoned in 2012, and forecasters believe that 2013 will not be any different. Because of the lack of need for legal representation in these areas, competition for lateral hires, relatively, will decline.
Generally, the world is getting more complicated, therefore the demand for legal experts will continue. Whether the emphasis is on litigation versus transactional work or pertinent substantive areas, the need for lateral attorney hires is here and here to stay.
Paul Lancaster Adams is the managing shareholder of Ogletree Deakins' Philadelphia office. With a strong in-house and outside counsel background, he brings a unique perspective and focus to client matters. He has addressed, through counseling, negotiation or litigation, a broad range of key employment issues critical to the modern workplace. He has particular experience with multiple-plaintiff, class action, non-competition, trade secret and fraud litigation and has successfully tried to verdict more than 25 matters in federal and state courts, and handled numerous arbitrations and mediations.