The latest LM news

Put Into Practice May 2024

ARTICLES

Corporate Transparency Act: Further Clarification

As with any new sweeping federal regulatory scheme, there are kinks to work out and questions which need clarification. This has certainly been true for the Corporate Transparency Act (“CTA”). The Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury has continued to issue new FAQ’s in response to multiple inquiries.

Local Counsel in NC Federal Court: Additional Obligations

In a recent article, Claire Modlin pointed out the importance of knowing the local rules of any federal court in which you’ve agreed to serve as local counsel, and in a couple of earlier articles, Mark Scruggs also emphasized how important it is to make sure the ultimate client knows and consents to the limited role you’ve agreed to assume whenever serving as local counsel. You should certainly follow that advice.

LAW PRACTICE MANAGEMENT

High Value vs Low Value

I have a friend who is deeply involved in the world of what is commonly known as “awards travel”. This is the term that is given to a set of behaviors that involves strategically opening, using, and closing multiple credit cards (“churning”) that give users award or travel points in exchange for using the card. Devotees of awards travel tweak the way they use their cards to maximize the value received from their “spend” in the form of travel points.

NORTH CAROLINA NEWS

NC Law Firm Technology and Practice Management Survey Summary

The NC Law Firm Technology and Practice Management Survey Summary is an easy-to-read report featuring key trends and insights in practice management, practice areas, security, legal technology, digital marketing and more.

Download the Report

eCourts Kiosks Deploy to N.C. Courthouses with Scanners, Printers, Payment Services for the Public

New eCourts kiosks will be available in North Carolina courthouses starting in June. The kiosks will allow the public to more easily engage with the court system by providing on-site access to search court dates and case events, file documents electronically, make payments, and use a scanner, printer, or other services available through the Judicial Branch’s digital case management system that serves nearly half the state’s population.

For more information about Enterprise Justice (Odyssey), please visit eCourts | North Carolina Judicial Branch (nccourts.gov)

Free General Purpose Generative Artificial Intelligence Tools

As the legal profession continues to evolve and adapt to recent technologies, it’s becoming increasingly important for lawyers to understand and leverage the capabilities of generative artificial intelligence (AI) tools. These tools, which can assist with tasks such as data analysis, research, translation, image and video creation, summarization, transcription, and automation, have the potential to increase efficiency and productivity within the legal field.

NC State Bar April Synopsis

The synopsis of the April 2024 NC State Bar Council Meeting has posted. While the State Bar Council did not adopt any new ethics opinions, the Ethics Committee considered a total of eight inquiries and approved the publication of Proposed 2023 Formal Ethics Opinion 3, Installation of Third Party’s Self-Service Kiosk in Lawyer’s Office for comment.

LM SPOTLIGHT

Lawyers Mutual 2023 Annual Report

To reflect strategic developments made in 2023, we selected “Investing in Our Community” as the theme of this year’s Annual Report. One of the most important investments we make is in our people – the heart and soul of Lawyers Mutual. Thank you, our insureds, for allowing us to serve you. We are investing in you.

VIEW 2023 ANNUAL REPORT

LM Welcomes Imani Henderson as Summer Legal Intern

Lawyers Mutual is pleased to welcome summer law intern, Imani Henderson, a rising 2L at Campbell Law School. Imani earned a B.S. in Business Administration with a minor in Spanish from Elon University in 2020. She also studied at the Universidad of Seville in Spain.

CLIO 2024 Legal Trends for Solo and Small Law Firms

Read the 2024 Legal Trends for Solo and Small Law Firms Report Online

LM On the Road

• June 12-15: NCAJ Annual Convention – Wilmington

• June 13-16: NCADA Annual Convention – Asheville

• June 17: Law People USA CLE – Red Springs

• June 20: Pauli Murray LGBTQ+ Bar Pride Event – Charlotte

• June 20-21: NCBA Annual Meeting – Charlotte

• June 29: NC Association of Black Lawyers Annual Conference – Wilmington

File Management Retention and Destruction

This LM Practice Guide will help you manage your case files. It is designed as a tool for firms that currently have active files, are looking to convert to electronic files, or new firms looking for file system information. From the opening to the closing of the file, having set standards for procedure ensures everyone in the office handle files in the same manner.

Respect - An Insight to Attorney Compensation Plans, by Brenda Barnes and Camille Stell

This guide to attorney compensation includes:

Compensation formulas
Managing Partner compensation
Compensation carve-outs such as paying non-equity partners
Compensation system biases
Trends in compensation

LEARN MORE and BUY NOW!

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