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WHAT WE'RE WATCHING

SQUARE PEG – As midsize and small law firms rush to claim a share of $350 billion in government-backed loans to keep payroll flowing, some are finding their business models present special hurdles. David Thomas reports that one obstacle is whether equity partners count toward the program's employee head count limit—fewer than 500. And it may make a difference whether a firm is organized as a professional corporation or an LLP. 

APPLICANTS – The law school admissions cycle is heading into a critical period when deposits for applicants to save a seat are due and prospective students must make decisions about where to attend—or whether to attend at all. And as Karen Sloan reports, the coronavirus pandemic is creating some turmoil with admissions, as schools scramble to connect remotely with prospective 1Ls and accepted applicants. At the same time, the total number of applicants to ABA-accredited law schools was down nearly 4% as of April 6, compared with 2019. 

NO GOING BACK – The legal profession is quickly realizing that long-term remote working is both technologically viable and a more wallet-friendly alternative to large office spaces, Frank Ready reports. Once the coronavirus crisis abates, law firms, burdened with high overhead costs, could see their partners moving to firms with more remote-friendly, cheaper arrangements. In-house departments as well may be looking to "future-proof" their operations with more tech to make it easier for remote work flow. 

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EDITOR'S PICKS

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WHILE YOU WERE SLEEPING

QUIET – The number of new suits filed in the English courts has slumped by 65% in the past month following the COVID-19 outbreak, Hannah Roberts reports. But lawyers are expecting a heavy influx of litigation and arbitration claims related to the pandemic and an increase in the reliance on litigation funding once the coronavirus situation settles.

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WHAT YOU SAID

"When firm leaders select who stays and who goes, they often unconsciously choose to keep the person who looks like them. Since most partners in the upper echelons of firms are white men, this may not bode well for diverse lawyers.  

—  Caren Ulrich Stacy, CEO of Diversity Lab, on how women and minorities at law firms often are let go at higher rates during an economic downturn.

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