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Baker Botts, AZA, Akin, V&E Announce Associate Bonuses Up to $140K - Great news moms: If you raised young lawyers, you should expect expensive presents from your daughters and sons this Christmas. A dozen large corporate law firms operating in Texas have informed their associates that they will be receiving year-end bonuses ranging from $21,000 for first-year lawyers to $140,000 for associates in their eighth year, which will be up for partner next year. Combined with recent hikes in base salaries, the most senior associates this year will be paid more than $575,000. Two Houston-based firms — Baker Botts and AZA — are the most recent business-focused firms to announce year-end bonuses for the associates it employs in its seven U.S. offices. Legal analysts say that the bonuses paid to just those 1,600 associates will cost their respective law firms an estimated $80 million. November 25, 2024
The 2024-25 Partner Promotion Announcements Have Begun - ’Tis the season of law firm partner promotions. Between October and February, dozens of corporate law firms officially announce the associates and counsel that they are promoting to equity and nonequity partners. Most of the announcements are made in December. The Texas Lawbook's Mark Curriden has the details on the latest announcements. November 25, 2024Expert Voices
Arizona Case Heightens ESOP Oversight Responsibilities of Company Directors - A recent decision in Arizona federal court shows that the directors of ESOP companies need to recognize that their interests and fiduciary duties are not always aligned with those of the ESOP investment banker (who is providing them guidance), the ESOP trustee and the ESOP advisors. This article highlights the key takeaways from a closely-watched case by the industry, Su v. Bensen. November 25, 2024
Evil Robots and Data Privacy - This article contemplates an artificial intelligence hypothetical given to a dozen Silicon Valley attorneys at an annual meeting of in-house lawyers and general counsel. The takeaway: as AI expands, it will increasingly become necessary for attorneys and their clients to understand exactly what tools are available to them to improve their models and avoid an increasing number of ethical and legal pitfalls. November 19, 2024
