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Many law firms have an "up or out policy", integral to the Cravath System, which had been pioneered during the early 20th century by partner Paul Cravath of Cravath, Swaine & Moore, and became widely adopted by, particularly, white-shoe firms; [7] associates who do not make partner are required to resign, and may join another firm, become a ...
CFR — Call for Response (At the US Supreme Court, if the other side has stated it will not respond to a petition for cert., any Justice may direct the Clerk to call for a response.) CJ – Postnominals of the Lord Chief Justice of England and Wales and, formerly, of the Chief Justice of the Common Pleas
the time value of money reflecting the delay to the payout time; The call contract price generally will be higher when the contract has more time to expire (except in cases when a significant dividend is present) and when the underlying financial instrument shows more volatility or other unpredictability.
The terms legal case management (LCM), legal management system (LMS), matter management or legal project management refer to a subset of law practice management and cover a range of approaches and technologies used by law firms and courts to leverage knowledge and methodologies for managing the life cycle of a case or matter more effectively.
Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law applicable to business. The major factors affecting how a business is organized are usually: The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the theory of the firm ...
A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position, traditionally indicating co-ownership of a partnership in which the partners were entitled to a share of the profits as "equity partners". The title can also be used in corporate entities where equity is held by shareholders.
A lawyer is a person who is qualified to offer advice about the law, draft legal documents, or represent individuals in legal matters.. The exact nature of a lawyer's work varies depending on the legal jurisdiction and the legal system, as well as the lawyer's area of practice.
Human resource management (managing personnel) is an important aspect of law practice management, and many books and other resources offer advice to firms on this topic. [21] Law firms often employ a number of non-legal personnel or support staff; according to one figure, the average attorney to non-attorney ratio is 1 to 1.3. [22]