Below are the legal practice area definitions and regional variations used by Chambers to rank lawyers and law firms in the USA Guide. The Advertising: Transactional & Regulatory section covers corporate and other transactional work involving advertising and marketing agencies, and other clients in the advertising industry, as well as contractual and regulatory compliance work related to marketing campaigns, such as sponsorship, licensing and branding deals. This section also covers regulatory proceedings, but please note that we have newly created an Advertising: NAD Proceedings section which covers lawyers and firms who specialise in representing brands before the National Advertising Division. The Advertising: Litigation section covers disputes work related to the advertising industry. The core work covered by this section is Lanham Act disputes and consumer class actions involving false advertising. NAD proceedings are not on their own included in the Advertising: Litigation section. NAD proceedings will also be considered in the Advertising: Litigation section if part of a broader contentious practice. Antitrust covers the body of laws that prohibits anti-competitive behaviour (monopoly) and unfair business practices - this includes practices that hurt business, consumers, or both, and that generally violate standards of ethical behavior. Antitrust litigation and M&A-related competition work is included in the Chambers guides. This chapter covers the preparation, drafting and delivery of briefs before the appellate courts (state supreme courts, circuit courts and the US Supreme Court). Also includes interlocutory appeals and writs. Chambers USA features a Nationwide table of law firms who field teams of appellate lawyers. It also ranks appellate lawyers in each state where there is a prominent appellate bar. This section covers lending transactions and recognizes those working on behalf of lenders and borrowers. Both banks and alternative lenders, such as credit funds, are recognized as lenders. Transactions may include acquisition financings, refinancings and general lending. All structures and methods of credit facility are relevant to this chapter. In states where Project Finance is not recognized separately, such work may be submitted to that state's Banking & Finance section. While the financing of property transactions may be relevant as part of a broad practice, firms or lawyers with a financing practice which revolves entirely around this should submit to the relevant Real Estate section. Where a specific Real Estate: Finance section exists covering the same geographical area, property work should not be included in Banking & Finance submissions. The focus is on corporate bankruptcy and restructuring and the legal processes related to distressed businesses, which can either be reorganized or go into liquidation. Also, especially in the current economic environment, the chapter includes lawyers who advise on acquisition opportunities that arise out of distressed businesses. Lawyers in this chapter assist clients such as corporate debtors, investors and asset purchasers, secured and unsecured creditors and creditors` committees, bondholders, insurers, directors of distressed companies and any other interested parties in corporate restructurings and bankruptcy proceedings. In addition to transactional work, bankruptcy also covers any related litigation, such as disputes between such parties in connection with distressed companies and Chapter 11 and Chapter 7 processes. This section encompasses the full spectrum of work involving companies in the cannabis industry. Ranked firms and lawyers will show strong ties to the sector. Types of work may include, but are not restricted to; M&A and financings; intellectual property for cannabis-based products and medicines; and regulatory compliance and litigation, on either a state-wide or federal basis. Chambers guides cover key areas of capital markets either as distinct tables or under the wider umbrella. The areas include: Debt & Equity; Derivatives; Securitization; Structured finance (repackagings, other synthetic products). Equity Capital Markets includes advice on equity offerings transactions such as: Initial public offerings, follow-on offerings, right offerings; capital increases; ADR/GDR offerings; accelerated bookbuilds; block trades. Debt Capital Markets covers legal advice on the following transactions: investment grade debt offerings (standalone bond issues; MTN programs, Commercial Paper programmes); equity-linked offerings (regulatory capital, convertibles and exchangeable offerings) and High Yield debt offerings. Derivatives includes the regulatory and transactional legal advice regarding derivatives products. These include: Exchange-traded derivatives; OTC derivatives; Securitized derivatives; Interest rate, currency, equity, credit and commodity-linked products. Law firms advise on product development and regulation; market regulation; structuring and documentation of transactions, related tax issues and derivatives litigation. Securitization covers the entire range asset classes, including (among others): Commercial loans; derivatives exposure; bonds and corporate debt; project cash flows; trade receivables; credit card and trade receivables; commercial and residential mortgages; life insurance and annuities; auto loans; CDOs (both cash and synthetic) and CLOs. Structured products also encompasses repackagings; and hybrid synthetic and structured note products This practice area covers a range of regulatory, transactional and litigation work in a specific climate change context. Regulatory work such as compliance program design and implementation, as well as operational and project-related compliance advice is a central aspect of work in this area. This area also covers representation of clients in proceedings before domestic and foreign government panels, agencies and regulatory bodies, including handling rulemaking challenges. Climate change-related government relations and policy advice work is also covered here. Climate change litigation and carbon markets transactions are also important in this practice area. This area focuses on regulatory compliance, administrative proceedings and other litigation arising from the communications sector. Construction covers contractual advisor work within the construction industry for both the suppliers (e.g., developers, contractors, engineers and architects), and those clients employing these types of companies (e.g., corporates or state authorities) on their building plans. Our construction sections cover both litigious and non-litigious matters. While Chambers recognizes that there is some crossover with this nationwide section and state Litigation: White-Collar Crime sections, there are some key differences. This area focuses just on institutional representations rather than individual and considers both civil and criminal investigations. It highlights practices demonstrating strength in internal and external investigations, including those taking place across a range of regulated industries such as healthcare. The\nCorporate Governance table covers specialist, standalone corporate governance\nexperts providing advisory and compliance counsel to corporate clients and\ncorporate boards, including on corporate policies and bylaws, corporate social\nresponsibility and on governance issues arising in transactional, litigation\nand employee benefits matters. This chapter includes company acquisitions, dispositions and related financing arrangements, mergers, joint ventures capitalizations, entity selection and formation, operating and partnership agreements and governance matters. Also covers those transactions designed to help restructuring within companies and their subsidiaries by change of ownership. Priority is placed on primary representatives, those acting for buyers and sellers, whilst those acting for financial advisors, underwriters and the banks financing such transactions are also considered. This table consists of leading private practice lawyers who play a key role in mobilising firm resources and managing multidisciplinary teams to advise corporate and individual clients following catastrophic events, regulatory actions, compliance failures and broader corporate crises. This research will aim to highlight lawyers who are considered a first choice to quarterback a corporate response to a crisis, without necessarily fronting the client’s criminal defence legal team. This section covers the full range of matters involving employee benefits and compensation plans including advising on the design and implementation thereof, as well as related taxation issues. It also includes advice on executive compensation agreements and benefits matters pertaining to corporate transactions. Moreover, it includes contentious matters pertaining to the implementation of benefit plans. Please also see ERISA litigation for disputes brought under the Employee Retirement Income Security Act of 1974. Although Chambers is aware of the overlap with Projects and project financing, the energy chapters focus on corporate / commercial, regulatory and capital markets issues arising from the energy sector. These include the regulatory components of M&A and other transactional work, pure regulatory work related to the application for licenses and compliance and enforcement with regulatory bodies. Our Energy section is divided into the following subsections: This practice area covers capital markets-related financing in the electricity space. The type of work considered here includes electricity bond structuring, private equity financing in the electricity space and utility rate securitizations. Clients in this area are exclusively electric utilities and the financing parties on the other side. We also consider capital markets-derived financings in support of power portfolio transactions and electricity M&A relevant here. This practice area does not include project financing structures, which are covered in the separate relevant Projects sections. This section covers all regulatory work and associated regulatory litigation concerning the power sector, including compliance work, and FERC and other government investigation and enforcement actions as well as related appellate proceedings. This section covers M&A, A&D, joint ventures strategic alliances and corporate financing work as well as wholesale and retail energy trading and market transactions in the traditional power and renewable energy sectors. Clients typically include generation and transmission owners, utilities, yield cos and energy majors. While this category accepts the A&D of functioning power assets, the A&D of power or renewable energy development projects falls under the Projects: Power & Renewables - Transactional practice area. This practice area concerns all regulatory and litigation issues pertaining to the nuclear industry with particular focus on proceedings before the NRC. Work includes licensing and operation, reactor oversight, enforcement and compliance, whistleblower statutes and non-retaliation policy, as well as nuclear waste and fuel procurement issues. This practice area covers regulatory work in the oil & gas industry at a federal level as well as regulatory litigation. Work can include regulatory compliance advice, approval proceedings, and regulatory litigation before FERC and the DOE as well as any related appellate work including pipeline emission matters and rate disputes. Clients typically include pipeline and LNG facility operators but also include any company interacting with the regulated side of the oil & gas industry. This subsection covers oil & gas industry-specific transactions as well as large corporate transactions for oil & gas industry clients. Types of work typically include M&A between large oil majors, joint venture agreements, service contacts and A&D including portfolio transactions. Clients include oil & gas majors, producers, pipeline companies, services operators and petrochemical companies. This subsection also includes LNG-specific transactions. Energy: PHMSA Specialists This table recognizes practitioners with a particular focus on representing clients in front of the US Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA). Work considered here may concern investigations, enforcement actions, compliance and due dilligence. As with the Nationwide chapter, state-level Energy sections cover the corporate, commercial, and regulatory issues arising from the energy sector. This includes the regulatory components of M&A and other transactional work as well as pure regulatory work related to the application for licenses and compliance. Contentious matters are also considered here, including enforcement actions, government investigations and rate disputes. These chapters focus on state-level representation, federal-level work is mostly considered in the nationwide chapter. This practice area recognizes firms assisting companies with energy transition, i.e., the move away from traditional reliance on oil and gas and a move towards “clean” and renewable energy. This may include the reshaping of asset portfolios and energy consumption across both the operational and supply chain sides. The work covered in this section includes the financing of low-carbon and de-carbonization projects, capital markets work and associated regulatory/compliance advice. This section does not consider associated environmental work as this is covered in our Climate Change chapter. The environment chapter features both litigation and advisory/transactional support to clients. This includes general corporate issues, (e.g., due diligence on mergers), the development of brownfield sites, and pollution issues. Traditional environment work includes regulatory compliance, litigation and enforcement actions related to air, water, wetlands, waste and endangered species. We also feature advice to corporate and financial clients on the environmental aspects of M&A, financings, securities offerings and other transactions, which involve due diligence and environmental insurance issues. The Employee Retirement Income Security Act of 1974 (ERISA) is the federal statutory framework that governs the administration of employee benefit plans and the rights of the beneficiaries under the plan. The interpretation and enforcement of the Act is handled by the US Department of Labor and the Internal Revenue Service. This section includes the full spectrum of litigation, investigation and disclosure work as it relates to the False Claims Act, covering both intervened and non-intervened qui tam actions. Clients will include government contractors, pharmaceutical companies, medical device manufacturers and healthcare systems. This section covers regulatory compliance work and advisory matters on behalf of banks, bank holding companies and other systemically important financial institutions. Areas include Dodd Frank compliance, including Volcker, resolution planning, enhanced prudential standards and anti-money laundering. Also covered are other regulatory frameworks such as Basel III. The section also covers engagement with the rulemaking process, including comment letters, lobbying, etc. This section covers the handling of regulatory investigations and enforcement actions on behalf of banks, bank holding companies and other systemically important financial institutions. Actions may originate from all parts of the US regulatory apparatus. This includes, but is not limited to, actions brought by the Federal Reserve, SEC, OCC, CFPB and OFAC, and may also include matters with a parallel DOJ investigation. Internal investigations into banking operations and regulatory procedures are also covered here. [*Note: Broker-dealer enforcement matters are NOT included in this section.] This section covers the full range of regulatory matters specific to the broker dealer industry. Firms are ranked according to their ability to handle both compliance and enforcement matters; individual attorneys may be ranked either for their compliance work, or for their enforcement work, or both. Compliance covers areas such as Dodd Frank and Volcker compliance for broker dealers, including SEC compliance for traders and investment banks. It also covers matters under SROs such as FINRA. Enforcement covers investigations and enforcement actions brought by the full range of regulatory bodies overseeing the broker dealer industry, as well as internal investigations. In all Consumer Finance sections, a significant focus on consumer lending and its regulation should be demonstrated. Relevant clients include both dedicated consumer finance providers and the consumer finance arms of larger financial institutions; work which revolves solely around banking-focused regulations such as Volcker and Dodd Frank is not considered relevant here. Compliance covers all aspects of compliance with CFPB and state regulations regarding consumer lending, including matters pertaining to mortgage lending, credit cards, autofinance and other forms of consumer credit. Enforcement and Investigations covers enforcement actions and investigations by regulatory bodies, such as the CFPB and the FTC’s Consumer Protection Bureau, into consumer lending. Litigation covers the defense of class actions or significant single plaintiff suits on behalf of mortgage lenders and servicers, credit card issuers and other providers of consumer credit. Issues often featured include fair lending cases, False Claims Act litigation and cases concerning unfair and deceptive practices. The Financial Institutions M&A table covers all M&A (including proprietary deals, joint ventures, IPOs, etc) involving financial institutions. This can include M&A involving banks, credit card companies, insurance companies and other types of financial institution. Lawyers and firms who are ranked in this section are assessed both in terms of their deal making strength and in terms of their handling of the regulatory aspects of such transactions. This chapter focuses on legal advice surrounding FDA matters, concerning all food, including dietary supplements as well as meat and poultry, which the USDA scrutinizes. Issues relating to the FTC also feature, such as consumer protection and advertising and point of sale concerns. Regulatory concerns such as health claims, IP issues are key areas in this sector, and the chapter also features commercial issues such as taxation, franchise arrangements and antitrust. Legal issues surrounding so-called functional foods (also known as nutraceuticals), foods marketed as having specific health benefits or effects and blurring the lines between foods and medicines are also covered. The chapter also covers significant litigation and legislation in the beverage alcohol sector, relating to the ability of wineries and other vendors to make interstate sales of wine to both consumers and retail customers. This section includes those acting for Franchisees and Franchisors and covers both transactional and contentious work. On the non-contentious side, this includes setting up a franchise arrangement, expanding a system and closing-down arrangements. Disputes arising from the sector such as disputed closing down of a system or contractual obligations. This chapter has three main components: Government Contracts, Government Relations and Political Law. The Government Contracts section refers to supply contract arrangements (with, for example, Army, Navy, Airforce, Department of Homeland Security) and bid protests before the agency forum, General Accountability Office (GAO) or Court of Federal Claims (CFC). Litigation arising from the sector includes costs disputes, matters relating to the False Claims Act and other contractual disputes (such as late completion and overrun costs). Other non-contentious issues include services contracting, scheduling issues and organisational conflicts of interest. The primary focus of Government Relations is legislative lobbying conducted by qualified lawyers for a range of corporate and nonprofit clients, including hospitals and universities. This is usually either regarding a specific proposal for legislation (e.g., Asbestos reform) or ongoing appropriations work. This work crosses industries from defence to education. Political Law features advice on the organisation and financing of election campaigns (McCain-Feingold Act) as well as advice to corporations and independent advocacy groups on their election activities. Contentious matters include challenging decisions by election authorities such as the Federal Election Commission. Healthcare covers a wide range of work, including transactional, advisory and contentious matters. Transactional work is primarily the sale and purchase, of some or all of a health system or health insurance company. Law firms advise on antitrust issues and assorted regulatory matters for clients such as hospitals, health systems and insurance companies. Litigation includes matters like qui tam (whistleblower) suits and the defence of parties involved in federal investigations. Advisory and regulatory compliance matters include Medicare Part D, the subsidizing of drugs through the federally-run Medicare program. Also covers Stark Law, which governs referrals of physicians accepting Medicare and Medicaid funds, and the False Claims Act. This chapter also features advice on pharmaceutical and medical products regulatory issues covering the drugs and devices approved by the FDA. Please also see Product Liability for litigation arising from pharmaceutical and medical devices defects. The regulation of these areas also features in our Life Sciences chapter. This section covers hedge fund formation and launches, spinouts, strategic acquisitions, distressed debt investments and restructurings. Higher Education Law is a\nspecialist industry-focused section recognizing firms and attorneys handling a\nvariety of legal work on behalf of higher education providers. Chambers\nrecognizes a broad range of work in the area including litigation and investigations\nas well as regulatory and transactional matters in a higher education context.\nClients may include public, private and private not-for-profit\nuniversities. The immigration section predominantly focuses on corporate matters in the area, including compliance and auditing work. Firms will advise clients on issues such as immigration programs, visa petitions, mobility strategies, immigration aspects of M&A, as well as in investigations and enforcement defense. Beyond ensuring existing investments meet ESG compliance\nrequirements, impact investors actively seek to achieve mission-based\nobjectives or strive to generate a financial return alongside a social or\nenvironmental benefit from the start of an investment cycle. This practice\narea does not include ESG work which is covered in Chambers Specialist Guides. Advertising
Antitrust
Appellate Law
Artificial Intelligence
Banking & Finance
Bankruptcy/Restructuring
Cannabis Law
Capital Markets
Climate Change
Communications
Construction
Corporate Crime & Investigations
Corporate\nGovernance
Attorneys defending shareholder class and\nderivative litigation and merger litigation matters should instead submit for\nstate Litigation: Securities sections, Nationwide Securities Litigation, or the\nDelaware Chancery table.Corporate/M&A
Crisis Management
Employee Benefits & Executive Compensation
Energy
Energy Transition
Environment
ERISA Litigation
False Claims Act
Financial Services Regulation
Banking Compliance
Banking Enforcement & Investigations
Broker Dealer (Compliance & Enforcement)
Consumer Finance
Financial Institutions M&A
Food & Beverage
Franchising
Government
Healthcare
Hedge Funds
Higher Education
Immigration
Impact Investing