Big Law Is Slowly Infiltrating Emerging Markets: The Morning Minute
The news and analysis you need to start your day.
November 29, 2023 at 06:00 AM
4 minute read
WHAT WE'RE WATCHING
POND HOPPING - From Kirkland & Ellis kicking off a wave of elite firms moving into Salt Lake City to Holland & Knight becoming Nashville's largest law firm overnight, Big Law firms have set their sights on developing markets. As Law.com's Justin Henry reports, firm leaders see an advantage to being a big fish in the small pond of an emerging market. For example, Taft Stettinius & Hollister chairman Bob Hicks, whose firm has an office in seven of the nine largest Midwestern metropolitan areas, pointed to its Minneapolis location, which is the city's third largest at 160 lawyers. "What comes with that is a lot of community involvement. We represent the Vikings, the Minnesota Twins and the families behind them," he said. "Eighty percent of our business comes from local markets."
NOW YOU SEE IT, NOW YOU DON'T? - Whether your legal department is dabbling in generative AI or you attended Burning Man this past summer, right now you're concerned about one thing: are these hallucinations permanent? Organizations remain evenly split between those that expect to increase their use of genAI over the next year and those that are still waiting to decide, according to a new poll from Deloitte shared exclusively with Law.com's Cassandre Coyer. Some of the hesitation is tied to the legal risks that generative AI can bring to an organization, with 32% of respondents citing hallucinations—incorrect information presented as fact—as the biggest potential threat. But Jonathan Foster, managing director in discovery at Deloitte, said he expects those concerns to settle as professionals get more comfortable with AI tools.
ON THE RADAR - Goodwin Procter partner Douglas J. Kline has entered an appearance for New Balance Athletics Inc. in a pending patent infringement lawsuit. The action, which asserts nine patents, was filed Nov. 6 in Massachusetts District Court by Arnold & Porter Kay Scholer on behalf of Nike. The suit accuses New Balance of using Nike's Flyknit technology, a method of designing and manufacturing shoe uppers, without authorization. The case, assigned to U.S. Magistrate Judge Jennifer C. Boal, is 1:23-cv-12666, Nike, Inc. v. New Balance Athletics, Inc. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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