Law firm in the context of Paul, Weiss, Rifkind, Wharton


Law firm in the context of Paul, Weiss, Rifkind, Wharton

⭐ Core Definition: Law firm

A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients (individuals or corporations) about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.

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Law firm in the context of Attorney's fees

Attorney's fee is a chiefly United States term for compensation for legal services performed by an attorney (lawyer or law firm) for a client, in or out of court.

Fees may be an hourly, flat-rate or contingent fee. Recent studies suggest that when lawyers charge a flat-fee rather than billing by the hour, they work less hard on behalf of clients and clients get worse outcomes.

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Law firm in the context of Attorneys in South Africa

In South Africa,Attorneys are lawyers who provide legal advice and representation to clients, aiding individuals and businesses in their legal dealings, and as required, handling related correspondence and writing up contracts.In litigious cases, or when an opinion is required, the attorney will "brief" an Advocate; see below.Attorneys usually specialise in one area, such as Family Law, Property Law, Tax Law, or Commercial law.

Attorneys may form professional firms and practice in partnerships, ranging in size to the "Big Five" law firms. The profession is regulated by the Attorneys Act, 1979 (Act No. 53 of 1979). There are currently around 21400 attorneys and 5000 candidate attorneys in South Africa, each of which are represented by the Law Society of South Africa (LSSA)

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Law firm in the context of Courtroom drama

Legal drama, also called courtroom drama or law procedural, is a genre of film and television that generally focuses on narratives regarding legal practice and the justice system. The American Film Institute (AFI) defines "courtroom drama" as a genre of film in which a system of justice plays a critical role in the film's narrative. Legal dramas have also followed the lives of the fictional attorneys, defendants, plaintiffs, or other persons related to the practice of law present in television show or film. Legal drama is distinct from police crime drama or detective fiction, which typically focus on police officers or detectives investigating and solving crimes. The focal point of legal dramas, more often, are events occurring within a courtroom, but may include any phases of legal procedure, such as jury deliberations or work done at law firms. Some legal dramas fictionalize real cases which have been litigated, such as the play turned into a movie, Inherit the Wind fictionalizing the Scopes Monkey Trial. As a genre, the term "legal drama" is usually applied to television shows and films, whereas legal thrillers typically refer to novels and plays.

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Law firm in the context of Trust company

A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.

The "trust" name refers to the ability to act as a trustee – someone who administers financial assets on behalf of another. The assets are typically held in the form of a trust, a legal instrument that spells out who the beneficiaries are and what the money can be spent for.

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Law firm in the context of Litigation strategy

Litigation strategy is the process by which counsel for one party to a lawsuit intends to integrate their actions with anticipated events and reactions to achieve the overarching goal of the litigation. The strategic goal may be the verdict, or the damages or sentence awarded in the case. Alternatively, in the case of impact litigation (also known as strategic litigation) the goal may be more far-reaching, such as setting legal precedent, affecting consumer-safety standards, or reshaping the public's perception of a societal issue. Broader goals and more challenging cases require a strategist with a greater understanding of, and facility with, the tools of litigation strategy.

Attorneys who apply advanced strategic concepts (such as Maneuver and the Boyd Loop), which are not taught in most law schools, may gain a decisive advantage over attorneys who are unfamiliar with the skill set and who, because of their unfamiliarity, can be unwittingly maneuvered into disadvantageous actions. The resulting imbalance has led to academic criticism of the use of advanced strategic techniques. For instance, Hugh Selby of Australian National University's College of Law has been particularly critical of its use by prosecutors, who already wield the massive power of the state against often poorly resourced defendants. The counterargument is that strategy can correct already-existing imbalances in the system, allowing a sole or two-attorney law firm with an indigent client to level the playing field against a large law firm with a wealthy corporate client, and allowing attorneys with little trial experience to effectively try cases against vastly more experienced opposing counsel.

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Law firm in the context of K Street (Washington, D.C.)

K Street is a major thoroughfare in the United States capital of Washington, D.C., known as a center for lobbying and the location of numerous advocacy groups, law firms, trade associations, and think tanks. In political discourse, "K Street" has become a metonym for lobbying in the United States, the same way Wall Street in New York City became a metonym for the U.S. financial markets, since many lobbying firms are or traditionally were located on the section in Northwest Washington which passes from Georgetown through a portion of Downtown Washington, D.C.

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Law firm in the context of Limited liability company

A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under the laws of every state; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).

An LLC is a hybrid legal entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC is a type of unincorporated association, distinct from a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner.

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Law firm in the context of Cahill Gordon & Reindel

Cahill Gordon & Reindel LLP is an American law firm based in New York City with offices also in Washington, D.C. and London. Founded in 1919, it is prominent in the practice areas of capital markets and banking & finance.

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