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Spain's booming legal market means big revenues for foreign firms

Spanish law firms are doing good business this year, reports American Lawyer. The strength of the legal market translates into profits for the U.S. and U.K. firms as well. Baker & McKenzie ranks highly in Spain, with 7.6% growth and $55.8 million in revenues. Jones Day scored the second highest revenues for a U.S. firm in Spain, with $10.8m in turnover.

The Spanish legal market has grown nearly four times faster than the national economy at an average of about 13.7%.

Linklaters recorded a 22.7% increase in revenues to $25.6 million, and Allen & Overy crossed the $12.8 million mark. DLA Piper was slightly ahead, touching $14.1 million. Clifford Chance was the top UK firm in Spain, reporting revenues of $69 million, an impressive growth of 13%.

07-11-2006

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Global online dispute resolution resource launched by Baker

Global law firm Baker & McKenzie has launched an online global dispute resolution information service. The service is without charge and available to anybody through the Baker & McKenzie website.

Information on the legal systems of more than 40 countries is included on this site such as the structure and authority of various courts, practice requirements of the legal profession, essentials of litigation, enforcement of judgments, and options for alternative dispute resolution.

07-10-2006

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Patent litigation injustice

Andrew Pincus, partner with the law firm Mayer, Brown, Rowe & Maw LLP and counsel to the Coalition for Patent Fairness, opines that abusive patent litigation is becoming the order of the day in a new editorial from the Arizona Daily Star.

Pincus claims that regulations designed to protect inventors and their patents are being wrongly applied by companies trying to swindle inventors through patent infringement lawsuits. As a result, very often, there is more money in suing inventors than the value of the patent claims themselves.

He states that innovators in the fields of hi-tech and financial services, as well as automotive, media, and energy industries, are being railroaded by the system. Most defendants prefer to settle out of court rather than risk losing, according to Pincus, as the law of averages is stacked against defendants in such cases.

07-10-2006

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Slow growth at Norton Rose

The law firm Norton Rose has registered slower growth than expected for the current financial year, reports thelawyer.com. Its average profit per equity partner rose only 4.7% and turnover increased 3.5%.

The firm's PEP for the last financial year was $817,000, up from $780,000 in 2005. It registered a turnover of $385 million, up from last year's $373 million. This means Norton Rose is now falling behind competitors like Simmons & Simmons, which has PEP of $864,000 and $417 million in turnover, as well as CMS Cameron McKenna, which has PEP of $875,000.

The firm has also lost four partners this year from the securities team that defected to Baker & McKenzie.

07-10-2006

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Greenberg Traurig profits from expansion into Israel

After four years of practicing law in Israel, Greenberg Traurig reports that its business strategy in the Middle East is bearing fruit.

Israel has become a high-technology sector, due to emigration from hi-tech sectors in countries such as Russia. Greenberg has benefited from this technology boom. There is also increasing Israeli collaboration and joint ventures with U.S.-based companies in sectors as diverse as biotechnology, life sciences, and electronics.

This strategy has led Greenberg to take part in the third annual life sciences mission conducted by Global Capital Associates which has fostered a partnership between Israelis and Americans in the life sciences.

Until recently, Greenberg focused more exclusively on small to mid-sized companies, but it is now targeting larger international companies as well. It has served as legal adviser in a number of large transnational deals, like that of Ivax Corporation’s $7.4 billion merger with Teva Pharmaceutical Industries of Israel.

07-07-2006

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Forchelli acquires Groman

The law firm Groman, Ross & Tisman has been acquired by Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn. The three principals, Robert H. Groman, Russell G. Tisman and Richard A. Ross, will join Forchelli as partners. The acquisition will compound Forchelli's presence in litigation, real estate, probate, estate planning, tax, and corporate practices and add new possibilities in the trade show and nursing home areas.

Forchelli was founded in 1976 and is one of Long Island's most distinguished law firms with a team of around 40 attorneys. Groman, Ross, & Tisman, P.C. represents both public and private business enterprises, insurance companies, entrepreneurs, and individuals in corporate legal matters. The law firm serves as outside general counsel to business clients in various sectors including manufacturing, retailing and sales, service, and sports industries.

07-07-2006

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Microsoft's outside counsel unable to satisfy EU regulators

Despite the efforts of Microsoft's team of attorneys from Sullivan & Cromwell, White & Case, Covington & Burling, and Brussels-based Van Bael & Bellis, the technology corporation is on the brink of being fined as much as two million euros per day for not complying with EU competition rules.

The software giant has already paid massive fines in recent years to the EU for noncompliance with regulatory demands. In March 2004, the EU fined Microsoft almost half a billion euros. The two then worked out a plan of action to rectify the problems.

Microsoft insists that it has done everything possible to fall in line with the rulings of the European Commission and indicated that further fines would be unjust and unnecessary.

07-07-2006

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