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.
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.
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.