The ABA Standing Committee on Ethics and Professional Responsibility (the “Committee”) recently issued its first opinion on generative AI and not a day too soon. While states such as Florida, California, West Virginia, and Kentucky, as well as the District of Columbia have issued generative AI guidance, most states have yet
Like it or not, artificial intelligence is not going away and it’s evolving—quickly. While AI talk has been brewing for quite some time, many of us assumed AI’s direct effect on our business was still years off. But over the last year the pace of development and use has accelerated exponentially and it is
Earlier this month, the Ohio Board of Professional Conduct (“Board”) issued an Opinion which provides guidance to attorneys engaged or contemplating engaging in an office-sharing arrangement. Sharing office space has many enticing advantages for lawyers such as reducing overhead and having access to other attorneys to collaborate with, all while maintaining a sense of independence.
Just last month, Ohio issued Opinion 2022-07, which allows lawyers to hold cryptocurrency in escrow, under certain conditions. It is no secret that technology tends to outpace the law, so the clarity is certainly welcomed. While this opinion sheds light on murky territory, lawyers still must proceed carefully as many ethical concerns remain.
Property
Remember your first days in law school, when you were introduced to a whole Black’s Law Dictionary-worth of exotic legalese? Words like “estop,” “arguendo” and “gravamen”? (If you’re like us, you’ve spent your post-school days learning how to avoid this jargon and write plain English; but we digress.) Remember “escheatment”? The term of course
Needing to adjust the basis of your legal fee mid-stream is a fairly common occurrence. When a matter becomes more complicated than you originally contemplated, or for other reasons, the fee agreement you entered into with the client at the beginning may become unworkable before the matter is over.
But renegotiating fees with an existing
One market effect of the ongoing COVID-19 pandemic is that transactional clients might be eager to offer you stock or some other form of participation in a deal in lieu of your legal fees. An uptick in proposals like this could come as clients try to limit cash outlays until the business climate and their
As 2020 kicks off, let’s take a look back at situations that got lawyers into ethical hot water last year. They each point to some ways you can stay out of trouble this year.
1. Talk nicely
As widely reported, calling your opposing counsel a “bowl of d- – ks,” among other epithets is
If you’re making a New Year’s resolution to improve your time-keeping and billing habits, you can draw inspiration from this cautionary tale, detailing how a Massachusetts lawyer, a partner at a large firm, has been suspended for six months for overbilling clients at her prior firm.
3,000+ billable hours?!
As widely reported, the partner’s
Bitcoin has come a long way since 2010 when Laszlo Hanyecz made the first Bitcoin purchase by paying 10,000 Bitcoins for two Papa John’s pizzas – a pizza order that today would have been worth over $80 million.
In addition to the pizza giant, some law firms are now accepting cryptocurrencies in exchange for legal