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Assessing Costs in International Arbitration
In international arbitration, where the stakes are often high, legal fees and related costs are significant enough for thoughtful or detailed considerations to be given to them, both by counsel and arbitrators.Scathing Opinion in Smoking Case Sets Precedent
A San Francisco Superior Court judge issued an extraordinary and virtually unprecedented indictment of the tobacco industry Tuesday, even as he halved a recent punitive damage award to a smoker. Denying defendant Philip Morris Cos. Inc.'s request for a new trial, Judge John Munter decided $25 million is a large enough award to deter Philip Morris from similar conduct in the future. A jury hit the company with a combined $51.5 million award in February.Trade Agreement Puts Law Firms' Focus on Central America
With the Central American Free Trade Agreement creating the 10th-largest U.S. export market, lawyers in both regions are anticipating closer economic ties and expanded client lists, assuming all the countries involved ratify the treaty. Predictions are for a more business-friendly atmosphere that will be especially beneficial for lawyers handling arbitration, organizational, contract and tax matters. And, of course, law firms conversant with international trade and customs are likely to lead the way.Can Computer Models Form Risk Compliance Programs?
Can techniques developed in fields as diverse as weather forecasting and baseball management be applied to developing a risk-based compliance program?Avoid Problems With Early-On Documents in Cross-Border Deals
With international mergers-and-acquisitions and joint-venture activity poised to increase in 2011, particularly in emerging markets, executives likely will ask in-house counsel to draft more early-on documents (EODs) for cross-border transactions, write Jorge Gonzalez, Michael Santa Maria and Marcos Basso. Parties commonly use EODs, which may include letters of intent, memoranda of understanding or term sheets, to memorialize their initial understandings of the business terms of a proposed transaction and to serve as the basis for drafting and negotiating definitive agreements.Trending Stories
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