Firms dig $2m deep for charity The top law firms in the US's Silicon Valley have joined forces to raise at least $2 million (1.2 million) over three years to support struggling legal services groups and law centres in the area.The Silicon Valley Campaign for Legal Services is well on the way to meeting its $500,000 target for the first year.
The targets for the following years are $700,000 and $800,000.
It aims to have firms contribute the equivalent of one billable hour - put at $250 - for every lawyer in Silicon Valley.Leading firms such as Cooley & Godward, Fenwick & West, Heller Ehrman White & McAuliffe, Morrison & Foerster, Pillsbury Madison & Sutro, and Wilson Sonsini Goodrich & Rosati have already contributed $400,000.One of the campaign's founders, James Towery of San Jose firm Hoge Fenton Jones & Appel, told the Gazette that the money was in addition to the firms' existing pro bono efforts.
The money would go to seven community legal groups which face cash shortages in the wake of falls in federal and state funding.
Mr Towery said it was necessary for law firms 'to fill the gap'.State funding comes through the highly controversial IOLTA scheme - Interest On Lawyers' Trust Accounts - which has fallen in line with a drop in interest rates.
The legality of laws which effectively take client money has been the subject of litigation in the US.Mr Towery said the campaign is also targeting general counsel of large corporations: one company has already pledged $100,000 over three years and he said he hoped to use this as a benchmark for others.Law firms in Silicon Valley are going through a period of 'unprecedented prosperity', Mr Towery said, so he hoped that the firms would exceed the $2 million target.See Feature, page 32 and Editorial, page 16Neil Rose
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