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Consultant's Memo: Nordic Track
hen online auctioneer and Cooley Godward client eBay Inc. snapped up Internet phone group Skype Technologies S.A. for a whopping $4.1 billion in September, the vision of a pair of Scandinavian entrepreneurs was realized. Skype founders and part-owners Niklas Zennstr�m and Janus Friis, from Sweden and Denmark, respectively, delivered record profits for the four venture capital groups that had backed them-a near thousandfold return for one San Francisco-based fund-and bumper fees to Skype's adviserFederal Judge Rules Nigerian Company Can Enforce $252 Million Arbitration Award
Three years ago, Nigerian company Continental Transfert Technique Ltd. won a $252 million arbitration award against Nigeria for defaulting on a manufacturing contract. But Nigeria never paid up, setting off a whirlwind of litigation in three countries. Last week, a D.C. judge granted Continental's motion for summary judgment to enforce the award in the United States.Ecosystem of legal services is evolving
The winds of change are howling around the legal industry. The ecosystem of legal services � that marketplace in which traditional firms, boutique firms, temp agencies and outsourcers vie for the work of corporate legal departments � is in the midst of a significant evolution. As general counsel continue to face increasing cost pressures, they are flexing their considerable muscle to fundamentally alter their relationships with these providers to extract greater value for each dollar spent.Outsourcing and Offshoring Gain Traction in U.K. Legal Market
When it comes to outsourcing, the U.K. legal community lags far behind many multinational companies and major U.S. firms -- but U.K. firms are starting to catch on. A facility on the edge of New Delhi makes Clifford Chance the first global firm to locate part of its support business in India. Two other Magic Circle firms -- Allen & Overy and Linklaters -- have already outsourced some back-office functions to Indian contractors, and Eversheds has outsourced part of its IT function to a U.K.-based specialist.Norton Rose Becomes Latest U.K. Firm to Confirm Casablanca Launch Plans
Norton Rose is set to open an office in Casablanca, making it the third top 10 U.K. firm to announce a Moroccan launch in the last two weeks. The firm's Africa group head, Alain Malek, will head up the office, which will focus on financial institutions, energy and infrastructure, as well as allow the firm to further develop its 10-year-old Francophone African practice.DuPont Law Team Quantifies $630M Contribution to Firm
DuPont's legal team has generated almost as much money as it has spent since the beginning of 2004 following a drive by the chemical giant to aggressively pursue lawsuits and seek licenses from companies using its patents. The legal team estimates that it has generated $630 million in revenues in the 3 1/2 year period. The strategy has hit DuPont's external advisers, which have been asked to dispense with hourly charge-out rates and utilize contingency fees in an effort to keep down litigation costs.Trending Stories
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