Shareholder Kevin O'Malley provides valuable insight to the Phoenix Business Journal on new laws poised to make a significant impact on Arizona businesses.
In putting together its latest Law Firms list, the Phoenix Business Journal offered a few optional questions for the firms' top executives to tackle.
What laws going into effect in 2024 will have the greatest impact on Arizona businesses?
The most consequential legal issue facing the business community in 2024 is the fate of the Arizona Commerce Authority. The ACA has played a significant role in attracting major employers providing high-paying jobs. The loss or diminution of the role played by the ACA, whether by legislative action or as a result of Attorney General Mayes' recent gift clause opinion, would deliver a major blow to Arizona's efforts to continue to expand and diversify its economy.
Kevin O'Malley, Shareholder
"Unless repealed or amended, the Corporate Transparency Act will have a big impact on all business throughout the US, including Arizona."
- Patrick MacQueen, founding attorney, Medalist Legal
How are law firms dealing with artificial intelligence programs, both as a tool and as a legal issue?
"Al may have utility for Fortune 50 litigants in their largest cases. But Kercsmar & O'Hara's clients look to us for long-term, personal consultation with lawyers experienced in business disputes. Al does not have any value to us in offering personal consultation and advice to our clients and so as a rule, we do not deploy it in our practice."
- Geoffrey Kercsmar, founder, Kercsmar & O'Hara PLLC
"We started advising on Al several years ago and seem to just recently be getting several questions a week from clients on Al use, abuse and protections. From IP protection to policies that shield from liability, nearly every business needs to address Al in multiple ways right now. There is just too much at stake to ignore the reality that it exists, your employees, competitors and partners are using it. We are advising clients that now is the time to figure out how to allow it to enhance your bottom line."
- Jordan Rose, founder, Rose Law Group PC
How is your firm's 2024 outlook? Do you plan to hire additional attorneys or otherwise expand your Arizona operations? If so, how big of an expansion will it be?
"We continue to see litigation as a growth sector, but have noticed a continuing weakness in real estate and construction transactional work which started in mid-2022."
- Richard B. Murphy, managing partner, Murphy Cordier Casale Axel PLC.
"Yes, we are hiring a few more attorneys in our AI, Web3, Technology departments as well as litigation, family law and zoning. We have an optimistic outlook for our internal growth as we have great clients who continue to count on us to help them solve problems."
- Jordan Rose, founder, Rose Law Group PC
Click here to read the article published by the Phoenix Business Journal.