The most radical changes in law firm billing which have occurred during the last two years has been the advent of value billing Alternative Fee Arrangements (“AFA’s). These billing arrangements are aimed at destroying or at least seriously maiming the invidious hourly billing process, which creates economic incentives for inefficiency. The hourly rate may be…

The evolution of alternative fee arrangements and value billing. In 1904, George Heber Smith, a recent Harvard Law School graduate, became the head of the Legal Aid Society in Boston. Smith found the lawyers working there overwhelmed with work for the Society’s indigent client base and sought to devise a method to improve the efficiency…

The traditional top-tier law firm model is based on a business structure of years gone by. Consequently law firms are operating inefficiently and in an antiquated fashion. This leads to under-served clients and a high rate of dissatisfaction among top-tier lawyers. There is a better way. By modernizing the law firm business model, and thus…

Born to a family that traces its roots in Esfehan, Iran, Michael Moradzadeh will speak on how Iran has slowly evolved from a dictatorship to a participatory theocracy and the nature of the current conflict among political parties in Iran today. Michael Moradzadeh is a founder of the Rimon Law Group, the head of the International…

Cloud technology allows attorneys to work anywhere they have a secure internet connection.  This provides for greater flexibility, happier lawyers, higher profits, and better-served clients.  However, a pure virtual law firm is not the answer.  Law firms need to think outside the cloud: they need to utilize all the benefits of the 21st Century without…

In Uniloc v. Microsoft, an appeals court issued a decision that may change how infringement damages are calculated by precluding the use of the “25 percent rule of thumb” which has been used to calculate damages in most patent cases for the past fifteen years.  This decision marks an important step towards requiring patent plaintiffs…

Forming an LLC or a corporation is an important first step to achieving tax benefits and protection from liability.  In order to preserve these important benefits, however,  it is very important that your company is maintained properly. Otherwise, you run the risk that the separate nature of your company will be ignored by the IRS…

An LLC can be treated as an S-Corporation for tax purposes if it makes an S-Corporation election as long as the entity meets the IRS criteria to be taxed as an S-Corp, files an S-Corp election and gets approved by the IRS to be taxed as an S-Corporation. Without an S-Corporation election, single member LLCs…

In order to be classified as an S-Corporation, a company must: be domestic, have no more than 100 shareholders, have one class of stock, all shareholders must be individuals, decedents’ estates, bankruptcy estates, trusts or tax-exempt charitable organizations, or wholly owned by another S corporation, and all shareholders must be residents of the United States…

Many small business owners incorporate their businesses not only for legal protection, but also to reduce owners’ payroll taxes through S-Corp tax election with the IRS. One advantage of an S-Corp is that it gives business owners the ability to reduce their self-employment taxes. Any small business owner who has not made an S-Corp election…