Kirkpatrick & Lockhart Nicholson Graham LLP (K&LNG) has released the findings of its third Top of Mindª: A Survey of Senior In-House Counsel. The survey continues its research into the concerns of corporate decision makers and addresses the most important issues facing in-house counsel to Fortune500 and 1000 companies in the United States.
Peter J. Kalis, chair of K&LNG's Management Committee, commented: "A major theme that emerges from this year's survey findings is the distinct value proposition law firms offer to their clients. The value proposition is how a law firm manages the balance between quality and cost in order to provide value to its clients."
The survey findings reveal that, while in-house counsel have become increasingly cost conscious, they also have focused on the value that law firms add and the efficiencies gained through convergence, or reducing the number of law firms they use.
Key findings from the survey include:
1. Compliance issues continue to be top-of-mind as in-house counsel's biggest challenge, ranking second only to containing litigation costs;
2. Concern over corporate governance has increased and ranks third in importance of 11 issues (after containing litigation costs, and compliance issues);
3. Litigation is increasingly top-of-mind as one of the most difficult budget challenges, and containing litigation costs continues to be rated as the most important of the issues researched;
4. Online auctions do not appear to be the wave of the future - in fact, only 4 percent of decision makers interviewed expect to use auctions next year. To view an electronic version of the TOM Survey, visit www.klng.com and click on the TOM Survey icon.
Kirkpatrick recently welcomed Jacob Schwartz as a corporate partner in the firm's Palo Alto, CA office. Mr. Schwartz practices corporate law, with a focus on equity and debt financings, mergers and acquisitions, business formations, and joint ventures. His clients include emerging growth companies and tech companies in industries such as software, semiconductors and the sciences, as well as businesses in more traditional industries such as food services, communications and real estate development and management.
Kirkpatrick & Lockhart has published the second edition of its treatise Sarbanes-Oxley Act: Planning & Compliance . Edited by K&LNG corporate governance partners Diane E. Ambler, Lorraine Massaro and Kristen L. Stewart, with contributions from other lawyers throughout the firm, this second edition explains the recent updates made to the Sarbanes-Oxley Act (SOX) and relies on real-life experiences to provide lawyers, compliance professionals, chief officers and corporate board members with practical guidance on how to develop, launch and maintain effective compliance programs.
Sarbanes-Oxley Act: Planning & Compliancewill be updated twice yearly to keep business and legal communities apprised of future regulatory developments and industry best practices.The second edition of Sarbanes-Oxley Act: Planning & Compliance is published by Aspen Publishers. To order a copy, visit www.aspenpublishers.com.
Kirkpatrick's Miami office recently welcomed Martin T. Schrier as a partner in its corporate transactions group. Mr. Schrier's practice focuses on corporate transactions, including mergers and acquisitions, public equity offerings and venture capital financings.