Firms may opt for “strategic corruption” says study
An academic study of Indian technology firms concludes that some companies may use “strategic corruption” in order to gain competitive advantage. The research by New York state’s University at Buffalo School of Management says that contrary to the notion that entire countries or companies may be culturally corrupt, firms pick and choose when to ignore laws and regulations and pay bribes to government officials to compete with smaller rivals who are not formally registered.
Author Rajiv Kishore, PhD said that when the formally registered Indian companies were competing with foreign multinational corporations, they chose to train their employees instead of engaging in corruption but when competing with “the little guy” they may resort to illegal tactics.
Asia revenue gains for international firm
Watson Farley & Williams has seen its revenue in Hong Kong surge in the 2014/15 financial year to more than AU$2 million compared with around half that in the previous year. Asia revenue was up 5.4 per cent overall to more than $46 million.
Transgender judge hailed as a pioneer
A British transgender woman has been hailed as a pioneer after becoming a judge in the High Court. Dr Victoria McCloud is also the youngest ever High Court judge, at 46, and the Daily Mail reports that equality campaigners have praised her courage. Dr McCloud was called to the bar in 1995 and has also written various legal handbooks.
47 new Dentons partners
Dentons has promoted 47 lawyers to its global partnership but there are none from Asia-Pacific offices as those promotions will happen later in the year. This round is focused on the North American markets with Europe, Africa and the Middle East also featuring.
US law firm’s billing revealed by court papers
The court papers in bankruptcy proceedings involving some prominent US law firms have shed some light on the hourly billing for some partners. The Wall Street Journal says that elite firms which have acted in insolvency cases including Kirkland & Ellis and Akin Gump charged fees ranging from $1,200 per hour to more than $1,400.
Happy Birthday copyright lawsuit settled for $14 million
Warner Music Group will pay U$14 million in compensation to those who have paid to use the song “Happy Birthday” following a lawsuit challenging its right to do so. The US court ruling in 2015 was that the company did not hold the appropriate rights to the song, merely an arrangement of it, and was therefore not entitled to charge usage fees. Although the firm does not agree with the court ruling and has not admitted wrongdoing, the lawyers of both sides agreed that the song should be in the public domain.