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Drawing (Gad)Flies: Thoughts On The Uses (Or Uselessness) Of Legal Scholarship, Sherman J. Clark
Drawing (Gad)Flies: Thoughts On The Uses (Or Uselessness) Of Legal Scholarship, Sherman J. Clark
University of Michigan Journal of Law Reform Caveat
In this essay, I argue that law schools should continue to encourage and support wide-ranging legal scholarship, even if much of it does not seem to be of immediate use to the legal profession. I do not emphasize the relatively obvious point that scholarship is a process through which we study the law so that we can ultimately make useful contributions. Here, rather, I make two more-subtle points. First, legal academics ought to question the priorities of the legal profession, rather than merely take those priorities as given. We ought to serve as Socratic gadflies—challenging rather than merely mirroring regnant …
Providing Capital For Law Firms In A Credit Crisis: Non-Lawyer Equity Ownership, Brett Novick
Providing Capital For Law Firms In A Credit Crisis: Non-Lawyer Equity Ownership, Brett Novick
University of Michigan Journal of Law Reform Caveat
Last year, a New York federal district court dismissed a lawsuit by Jacoby & Meyers LLP attacking a New York law that prevents non-lawyers from owning an equity interest in law firms. On November 21, 2012, the U.S. Court of Appeals for the Second Circuit resuscitated the lawsuit, remanding the case to the district court and granting Jacoby & Meyers LLP leave to amend its complaint. Non-lawyers owning an equity interest in law firms is not a new idea, as countries such as Australia and the United Kingdom already allow it, and the United States should follow their example to …
Efficiency-Wage Theory And Law Firm Pay, Dongyu "Eddie" Wang
Efficiency-Wage Theory And Law Firm Pay, Dongyu "Eddie" Wang
University of Michigan Journal of Law Reform Caveat
Every first-year law student knows that Big Law pays $160,000 a year. In fact, this number is likely the biggest incentive for applying in the minds of most law-school hopefuls. Taking New York City as an example, a quick look at Vault’s salary data reveals that, indeed, the large majority of New York firms with available salary data pay first-year associates exactly $160,000.