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10 Misconceptions About Malpractice Insurance
Much like mechanics whose cars don't run properly, some attorneys leave little time to handle their own legal affairs. Surprisingly often it's a lawyer's professional liability policy that does not receive the scrutiny it should.10 Misconceptions About Malpractice Insurance
Many lawyers find out too late that they didn't give their malpractice insurance policy sufficient scrutiny and are disappointed to learn that a claim doesn't magically resolve itself upon utterance of the phrase, "Surely I'm covered." Of course, it's important to adequately assess one's policy, but this is often a more complex undertaking than many attorneys believe. Here are 10 common misconceptions of professional liability policies, and some information to help ensure that, surely, you are covered.Patent Malpractice Claims Hit Firms
The high level of liability exposure in patent work and the growing complexity of the practice area are making law firms increasingly vulnerable to malpractice lawsuits that blame attorneys for a job gone wrong. It is a practice area rife with details and deadlines, and one that many firms have expanded in recent years following a deluge of patent work in industries such as pharmaceuticals, computer technology and medical devices.N.Y. Appellate Panel Finds Dead Man's Law Applies in Disciplinary Matter
A Manhattan lawyer has been suspended for two years for withdrawing from an escrow account money he said his deceased client pledged to him as payment for a decade of free legal work. The panel determined the lawyer was precluded from relying on his own testimony about the supposed agreement by the Dead Man's Statute, which bars an interested party from testifying about verbal promises by a dead or incapacitated person. But the court said the lawyer's account could still be used to mitigate his penalty.The Bankruptcy Files, Fashion Week Edition: Barneys Tries Kirkland on for Size
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