The July 2025 bar exam might cost the California Bar millions more than planned. The current July quote is $4.4 million, while the bar expected $2.4 million, with negotiations ongoing.
The general counsel's job is set to get tougher, with regulatory changes, geopolitical turmoil, and sweeping technological changes continuing and intensifying into 2025.
2024 was a pivotal year for law firms, with strong demand, higher billing rates and the expansion of non-equity partner tiers, but law firms are edging toward rethinking their business model.
Millions of corporate entities will not have to share information about their owners with the Treasury Department after an appeals court paused enforcement of the Corporate Transparency Act that would have required them to do so by Jan. 1.
Midsize firms Harris Beach and Murtha Cullina are combining to create a 250-lawyer firm spanning from D.C. to Massachusetts after both client bases grew and demanded more scale. The merger comes amid a broader wave of high-profile mergers launching this month.
A U.S. appeals court ruled the Federal Communications Commission did not have legal authority to reinstate landmark net neutrality rules. FCC Chair Rosenworcel urged Congress to enact the laws, while industry groups praised the decision, citing anti-consumer concerns.
Attorneys, judges, and judicial clerks in Illinois may utilize artificial intelligence tools as long as they comply with the rules of professional conduct, the state supreme court announced, issuing a policy dictating the use of such tools.
Experts are mixed on whether Big Law firms should consider combining using the vereins structure as opposed to other merger models. Some firms who have structured as a verein have succeeded in expanding globally but experts warn about the risk of producing a fragmented culture.
Mergers and acquisitions bankers got back on their feet in 2024, with global transactions rising 16% to $3.1 trillion, and are now waiting to see whether a second Donald Trump presidency will turbocharge or temper their nascent recovery.
After 2024, “it’s a whole different world” when it comes to Big Law compensation, as more than one third of Am Law 200 and beyond plan to make changes to their equity partner compensation models, either by stretching the spread or revising compensation criteria.
The EU is making it simpler for individuals to sue the manufacturers of AI systems that harm them, part of the bloc’s broader push to enact consumer-friendly tech laws, which is in direct contrast with U.S. policy on AI oversight.
Legal automation company Josef has closed a lightning-fast funding round to capitalize on market response to Josef Q, the AI-powered product it brought out of beta in November 2023 that enables legal and compliance teams to easily create self-service Q&A tools.
