D.C. firms are branching out; more outsiders in their territory force D.C. law firms to counterattack

Article Abstract:

The presence of more branches of outside law firms in Washington, D.C., is forcing law firms based in the nation's capital to respond in kind. There were 2,500 lawyers in D.C. branches of the nation's 250 largest law firms in 1985 and there are more than twice as many a decade later. These branches increasingly handle legal work involving the federal government which would formerly have gone to native law firms. They also generate new legal work by cross-marketing with practice groups both nationally and globally. Washington-based firms whose response is discussed include Patton Boggs , McKenna and Cuneo and Hogan and Hartson.

Economic aspects, Washington, D.C.

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L.L.C. and L.L.P. formats can benefit law firms; by operating as limited liability corporations and partnerships, firms can avoid dual taxation

Article Abstract:

The limited liability company (LLC) and the limited liability partnership (LLP) have the advantages of both limited liability and the avoidance of double taxation, the latter being the disadvantage of the professional corporation. These two business forms have become popular for law firms. Law firms using one of these forms should be able to use the cash method of accounting since they normally do not incur losses during a taxable year. An existing partnership can usually take on the LLP form just by filing the election with the state.

United States

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Firms go up a down escalator: Connecticut's big firms are case studies in how to flourish in a recession

Article Abstract:

Connecticut law firms have survived the state's hard economic times by regionalizing their operations, by cutting overhead and by dropping unprofitable partners and practice areas. Connecticut law firms have also had to deal with pressure from corporate counsel to cut outside counsel costs. The state's lawyers say they have great empathy for those affected by the recession and have tried to help Connecticut's economy. Individual Connecticut firms such as Day Berry and Bingham Dana are discussed.

Connecticut

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