WORKING THEORIES – If you thought two-plus highly successful years of flexible work arrangements would be enough to convince law firm leaders to get on board with the evolution of the profession, you must be new around here. Welcome! As Law.com’s Andrew Maloney, Patrick Smith and Hank Grezlak report, the generational differences in law firms—especially how lawyers of different ages view such basic topics as how the work should get done and when—have been laid bare by the pandemic and created the potential for conflict. Lisa Smith, a principal at Fairfax Associates, said that while change has never come easy to the legal industry, “[t]he pandemic showed it was possible, and I think firms are trying to recognize that, and use that to their advantage.” But Haley Revel, managing director of HR and talent management at Calibrate, said that for many baby boomers, the “you should be thankful to have a job” mindset is still pervasive. “A boomer is going to say ‘OK, I’ll come and do what you say because this is my career,’” she said. “But a millennial, for example, might hear that same direction and head for the door.” This is the second installment in a series examining how workers and the workplace have been altered as a result of the pandemic. Read part one here.
GOOD FOR YOU – When the going gets tough, litigation finance gets going. At least that’s what lit funders are banking on as we head deeper in 2023. As Law.com’s Justin Henry reports, conditions are ripe for litigation financing to become more ensconced in law firms’ business models this year as capital constraints, lower revenue levels from the 2022 fiscal year and an anticipated rise in disputes are expected to prompt litigation departments to seek risk-sharing partners. While litigation funders at Burford Capital said in a recent investors’ report that they do not wish to revel in the misfortune of businesses that find themselves embroiled in a dispute, the “simple truth” is “that we tend to do well in periods like these, and we have no reason to believe that this downturn will be any different.”
ON THE RADAR – Legal wars… the punishment due? Universal Music Group, thrash metal band Megadeth and other defendants were hit with a copyright lawsuit Friday in New York Eastern District Court. The lawsuit, brought by Kibler, Fowler & Cave and Kovel Law on behalf of Brent Elliott White, claims the defendants used the plaintiff’s artwork for the cover art of Megadeth’s 2022 album without the plaintiff’s permission. Counsel have not yet appeared for the defendants. The case is 1:23-cv-00861, White v. Megadeth, Inc. et al. Stay up on the latest deals and litigation with the new Law.com Radar.
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