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Full-Text Articles in Law
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
Faculty Scholarship
This article explores several disadvantages associated with limited liability partnerships (LLPs) in the wake of the Anderson-Enron debacle. The article explains how conversion to LLP from a traditional partnership may undercut the incentive for partners to devote time and resources to monitoring and risk management activities. Additionally, the article notes that conflicts may arise regarding the payment of debts when a firm, without sufficient malpractice insurance, converts to an LLP. The article delves into the exodus problem caused by the lack of partners’ commitment to the firm. The article also describes the tension between partners over malpractice insurance decisions that …
Regulatory Mismatch In The International Market For Legal Services, Carole Silver
Regulatory Mismatch In The International Market For Legal Services, Carole Silver
Articles by Maurer Faculty
The increasingly international reach of law owes part of its momentum to individual lawyers and law firms that function as carriers of ideas, processes and policies. U.S. lawyers are important participants in this expanding influence of law, as they educate, train and deploy individuals educated and licensed in the U.S. and abroad. This article examines the ways in which law firms internationalize, and considers the regulatory environment governing crucial interactions between U.S. and foreign-educated lawyers. It builds upon prior work that investigated the impact on U.S. law firms of the development of an international market for legal services and the …