Why you need this policy: Copyright infringement has become a serious liability risk for law firms: * In 1991, a mid-sized Washington, DC, law firm was sued for $14 million by a publisher. The case was eventually settled but not until after the firm incurred over $1 million in legal fees; * In 1999, a large Wall Street firm settled a … [Read more...] about Model Policy: Copyright compliance
Purchasing & leasing
Use long-term vendor contacts to win long-term savings
Regular meetings with the vendors have led to significant savings for a North Carolina firm. Tracy Cook, administrator with Gailor, Wallis Hunt, an eight-attorney firm in Raleigh, NC, started the meetings when she came to the firm several years ago. One of her first actions as administrator was to go through the vendor files to see which vendors had contracts or did regular … [Read more...] about Use long-term vendor contacts to win long-term savings
How long should you keep client and practice records?
A lot of questions come up about the most basic elements of maintaining and destroying client records. And that's because to many of those questions "there's no hard and fast answer," says Washington, DC, attorney and record management consultant Teresa Schoch is also a past member of the Michigan Bar Association's ethics committee. Here are seven such issues. The 10-year … [Read more...] about How long should you keep client and practice records?