I was talking to a friend who is a junior partner in a large firm, and who is thinking of starting her own firm. She knew what practice area she would focus on, and she had at least one client who she felt sure would go with her. But she still had two critical questions to resolve. First, she wasn’t sure if she wanted to open a solo practice, or if she would try to recruit someone to form a partnership. Second, she wasn’t sure if she would form a “virtual” office, or try to start a traditional “brick and mortar” shop.
With regard to her “solo versus group” decision, we talked about the differences in tax treatment, liability exposure, etc. But I offered her my opinion that another important consideration is the practical, day-to-day differences between running your own shop and being in a partnership….
It’s exam time. Kids are living in the library and generally oblivious. This is high season for thieves!
But we’ve got an email from a law student who is determined to take action. He had his textbooks stolen (add sabotage to the list of things wrong with law school), and he’s mad as hell. He wants to do away with his law school’s honor code and go with more medieval punishments should they apprehend the thief.
And since it’s the middle of finals, the whole letter has the scent of desperation clinging to it like the smell of dog poop lingers on a shoe long after it’s been cleansed.
Full disclosure: I have a disproportionate amount of lawyer friends who work at Sidley Austin. Their bonuses have caused all sorts of fun to happen in my inbox. Without even seeing the actual bonus memo, I could tell what was happening based on Gchats and text messages. Friends said things like:
“This joke stopped being funny days ago.”
“Is ATL hiring?”
“Sidley proves you right every single day.”
I like it when friends making three times as much money as I make feel comfortable complaining to me.
Last week, we found out that 75% of our readers thought using the word “like” to introduce a quotation would like, make the speaker sound like a Valley girl, despite its apparent linguistic usefulness.
This week, thanks to popular demand from our readers, we’ll be turning to a contested issue among lawyers. What is the preferred past tense form for the verb plead — pleaded or pled?
I’m a 2L at a second-tier midwestern school. Fall OCI didn’t go so great for me and, after resigning myself to failure, I accepted an unpaid internship with the government in my home metropolitan area. If I keep the job, chances are good that I’ll end up taking out loans for externship credit and will also be forced to obtain some sort of weekend employment to pay the bills.
Surprisingly, I just got an offer to be a summer bitch at a decent-paying firm within my home town. I talked to Career Services about this problem, and they made it clear that I needed to reject the firm offer. But that option would obviously strain me, both career-wise and financially. So my ultimate question is, can I tell the government that I’m sorry, but will no longer be able to take the position? From a purely financial point of view, I can either borrow ~6k this summer for tuition and living expenses, or make ~20k.
-Money on the Table
Dear Money on the Table,
As if law students didn’t have enough strikes against them — sh*tty economy, no jobs, worthless degree — a new and insidious threat also conspires to keep them broke and unemployed: Career Services. Everyone tolerated their quaint but useless “resume writing workshops” and rhetorical great-unpaid-opportunity-in-Kansas emails when the economy was great, but now that sh*t has tanked and they are unable to fulfill their express job duties — namely, creating careers — they’ve turned underminer. If they can’t create careers, no one should have them….
Well, last Friday was interesting. When I decided to close the comments for last week’s installment of Moonlighting, Lat responded, “I’m glad at least someone is willing to try deactivation.” As expected, undeterred from the fact that they couldn’t comment directly on my post, the usual group of ATL commenters uniformly hijacked Kashmir Hill’s “revenge porn” post which followed mine on ATL to provide me with their usual thoughtful and highly encouraging feedback.
Later, an anonymous 2L tweeted as follows: And @susanmoon has the dubious distinction of being the first @atlblog writer to close off comments. When I joked to the 2L that my feelings get hurt every week, the 2L (taking me seriously, I presume) told me that instead of hiding, I should “rise above it” because even a SCOTUS justice would get flamed on ATL. This invited Brian Tannebaum (an ATL small-firm columnist) and some others to rush to my defense. What ensued was a flurry of debate on Twitter — infused with an abundance of insults — mainly between Brian and the 2L. I’m actually not quite sure why Brian got so involved, as I’m not even sure he likes me (that’s the real reason I cry every week). I think he just likes to pick on poor souls every once in a while (read: several times a day) for his own sadistic pleasure.
In any case, in addition to the entertainment value that the Brian v. 2L debates offered on Twitterverse Legal last weekend, there were definitely some interesting points made on both sides about the value of anonymous feedback….
It seems there is an interesting emerging trend in litigation these days: When a ruling doesn’t go your way, just make an appeal alleging judicial conflict of interest.
Same-sex marriage opponents wanted California judge Vaughn Walker to recuse himself from Prop. 8 hearings because he is gay. If and when the Supreme Court decides to rule on Obama’s healthcare law, some people have called for Clarence Thomas to recuse himself because of his wife’s outspoken work to repeal the act.
And yesterday, an Illinois woman convicted of child battery lost her appeal for a new trial. She appealed on the basis that the judge in her case’s adult children are Facebook friends with her alleged victim’s family….
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: