Provided by George S. May International Company 

 LEGAL GUIDELINES AND RESOURCES

LEGAL ARTICLES

The vast majority (more than 76 percent) of law firms have four employees or less. Twenty-two percent of all U.S. firms and legal service providers have 5 to 49 employees and less than 20 attorneys. Approximately 700 firms have 50 to 150 attorneys, while about 200 firms have 151 or more attorneys.

The total estimated number of U.S. establishments providing legal services is 249,969. An estimated 1,464,737 of people are employed in this industry. The total annual sales in this industry are $118,160.2 million. The average number of employees per establishment is 6. The average sales per establishment are $0.50 million. The five largest U.S. legal markets are California, New York, Florida, Illinois & Pennsylvania. Estimates show that 27 of the top 100 U.S. based firms had gross revenues exceeding $500 million in 2003.

Consolidation is a major issue in the legal profession. It will continue in 2005 primarily through lateral acquisitions of prominent partners and practice groups. There were 69 announced law firm mergers and acquisitions worldwide reported in Hildebrandt Headlines in 2004, a handful more than the number reported in 2003. There were 47 completed domestic and transatlantic U.S. mergers in 2004, as noted in Hildebrandt International's MergerWatch and five law firm dissolutions reported in Headlines in 2004, down from 13 in 2003.

United States-based firms are expected to continue to make substantial investments in foreign offices. United Kingdom-based firms will aggressively pursue the U.S. market. In 2004, there were 41 foreign office openings in 19 countries compared to 13 office closings in eight countries in 2003.

The trend of the past several years toward more centralized management and decision making will continue, with the management of many firms assuming greater responsibility for the strategic direction of their organizations. On the technology side, firms are likely to continue their integration of back-office systems and their efforts to take better advantage of knowledge management and relationship management tools. Finally, firms will continue to explore ways to improve operating efficiencies, including outsourcing of certain back office functions (e.g., document management, accounting, litigation support), with more of this outsourcing being offshore.

Create A Corporate Compliance Program
Any business that has Officers and a Board of Directors needs to pay increasing attention to the liability of the actions of management. This article discusses several actions that should be considered by the Officers and Boards of Directors to insulate the corporation and reduce the potential for criminal liability.

When Does Your Business Need A Lawyer?
Whether you are just starting a business or your enterprise is already up and running, seeking the advice of a trusted attorney is an important step toward protecting your business and securing your financial future. Here are several key areas where expert legal advice and guidance will benefit your business.

Employer Fire Response
Unfortunately, there appears to be a reemergence of neglect, and resulting potential civil and criminal liability, involving fire safety procedures and emergency response. Recent examples should remind business owners that they should be aware of the issues and have procedures in place to protect their people and their facilities.

This information is compiled and provided by May International.