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WHAT WE'RE WATCHING

NOT-SO-FAR OUT, MAN - If the term "psychedelics" conjures images of lava lamps and black light "Dark Side of the Moon" posters, you might be a little behind the times (or maybe still in college). The truth is psychedelic-based medicine is heading toward the realm of big business—and Big Law is starting to catch on. As Law.com's Dan Packel reports, a small number of law firms that have already built a reputation advising clients in the booming cannabis field, including Fox Rothschild and Akerman, are getting in on the ground floor, advising companies that specialize in the therapeutic use of psychedelics. While a lingering stigma around drugs like psilocybin and MDMA may be keeping some firms from jumping into the fray, others are confident that the treatments represent the future of medicine. "None of this would be happening if there wasn't a need. People are moving past the counterculture of the '60s when it comes to psychedelics and realizing that before all that happened there was legitimate research and medical treatment using these drugs," said Fox Rothschild partner Joshua Horn, who co-chairs the firm's cannabis practice and has been advising drug developers and investors in the nascent psychedelics space. "As people come off of taking antidepressants that no longer offer them relief, I think this is an avenue, much like medical marijuana for people who didn't want to take opioids for the treatment of pain."

DO LESS - It appears a growing number of lawyers would actually prefer not to work themselves into the ground and be miserable forever, if at all possible, please and thank you. And these are hardly slacker types, either. As Law.com's Andrew Maloney reports, a recent survey found that a significant number of top-performing lawyers said they'd like to work fewer hours and reduce their non-billable responsibilities, such as talent recruitment and marketing. The findings, according to the authors of the Stellar Performance Skills and Progression Mid-Year Survey, suggest that, in the midst of an epic talent war, law firms need to pay attention to gender and generational discrepancies in the workforce, as well as the way lawyer work preferences evolve as their careers progress. "Contrary to what we may assume, the youngest lawyers are not the group most comfortable with long working hours. Young professionals are placing more explicit emphasis on work/life balance, mental well-being, leisure, and other activities outside work than was evident in previous generations," the report stated.

CASH COWS - Welcome back to yet another installment of "Industries That Are Surprisingly Ruthless." On Monday, Dairy LLC, a provider of software and technology services to the dairy industry, sued Canadian rival Milk Moovement Inc. in California Central District Court for alleged misappropriation of trade secrets. The suit, filed by Stradling Yocca Carlson & Rauth and Bonds Ellis Eppich Schafer Jones, accuses the defendant of obtaining and exploiting confidential information received from a Dairy customer. Counsel have not yet appeared for the defendant. The case is 2:21-cv-09279, Dairy, LLC, a Delaware Limited Liability Company v. Milk Moovement, Inc., a/k/a/ Milk Moovement, LLC, a foreign Corporation. Stay up on the latest deals and litigation with the new Law.com Radar.  

EDITOR'S PICKS

WHILE YOU WERE SLEEPING

THE TABLES HAVE TURNED - In a long-running battle between Norton Rose Fulbright and a former partner, a court in Australia has reversed a previous decision, ruling that the global firm won't have to pay a damages award of $114,000, Law.com International's Christopher Niesche reports. The full Federal Court in Australia ruled in the latest twist in a five-year legal battle between the global law firm and former Australian partner Thomas Martin that Norton Rose is not only off the hook for damages but that Martin must pay the firm for costs, which are likely to be substantial. Norton Rose had retained King & Wood Mallesons and top barrister Bret Walker QC in the case. The court ruled that while there was no dispute about the factual findings by the primary judge, Justice Duncan Kerr of the Federal Court, there were differences in his inferences and conclusions. Kerr had found Martin was deceived into dropping an employment court action against Norton Rose, but the appeals court found the firm had not committed an abuse of process, nor had it been deliberately deceptive.

WHAT YOU SAID

"One key message that I received from mentors is to set written goals. It is amazing how many goals can be achieved once the goals are in writing and are reviewed regularly."