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L.A. Law Firms Flash Their Fashion Sense
Several firms in Los Angeles have grown or unveiled practice groups spotlighting the textile, apparel and fashion industries, and the new groups hail from midsize firms rather than the traditional boutiques that have dominated the field. "Fashion and apparel has kind of exploded across all spectrums on its own ... because so much money has come into the industry from private equity ..." says James Williams, chairman of Loeb & Loeb's new fashion and luxury brands industry group. "It's a changed industry."
Luce Forward's Growth Ambitions
Partners at 190-lawyer Luce, Forward, Hamilton & Scripps spent six months last year banging out a plan to build the headcount and reputation of their branches in San Francisco, Los Angeles and Orange County -- locations where they're traditionally not well known. They say that certain trends at bigger law firms, as well as troubles in the financial sector, are opening doors for business development and recruiting for the full-service firm.Fashion Copyright Suits May Be in Style
A fashion bill pending in Congress could dramatically increase apparel lawyers' work -- and make it a lot harder for consumers to stay in style. The Design Piracy Prohibition Act, S.B. 1957, would allow designers to copyright their designs -- and not just their logos -- for three years. That could lead to a flood of litigation as designers move to sue retailers who sell knock-offs intended for the mass market.
Small Firms Take It to the Bank
After years of consolidation in the banking industry, there are fewer clients to go around. And borrowers who usually foot the legal bills are putting pressure on banks, which in turn demand flat-fee arrangements and lower rates from law firms. That's good news to banking boutiques like husband-and-wife-run Rehon & Roberts, but not to bigger firms. These days large firms tend to view their lending practices more as a complementary service to their higher billing areas rather than a revenue driver in itself.
L.A. Law Firms Flash Their Fashion Sense
Several firms in Los Angeles have grown or unveiled practice groups spotlighting the textile, apparel and fashion industries, and the new groups hail from midsize firms rather than the traditional boutiques that have dominated the field. "Fashion and apparel has kind of exploded across all spectrums on its own ... because so much money has come into the industry from private equity ..." says James Williams, chairman of Loeb & Loeb's new fashion and luxury brands industry group. "It's a changed industry."
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