Our law firm does not have a Twitter account. But our consulting and patent monetization firm, Markman Advisors, does (@MarkmanAdvisors) — an active one, where we post about patent litigation-related events that are of interest to our followers. Twitter has become our number-one way of interacting with the investment community that is the target for our consulting and patent monetization services.
Yet our law firm still does not have a Twitter account — and I am not convinced it should. As a practicing litigator, I am reluctant to give out my opinions on legal issues through such a broad-reaching medium. Lawyers on Twitter either need to have a lot of guts, or follow the typical boring Biglaw marketing model. I am not interested too much in either approach.
Our engagement with Twitter is relatively recent, dating to the launch of our law firm and consulting practice. Prior to Twitter, our focus was on demonstrating our patent litigation bona fides via investor-focused articles on websites like Seeking Alpha and Harvest. The goal of that work was to demonstrate that Markman Advisors offered investors, inventors, and companies interested in patent situations a unique analytical approach, informed by our collective experience litigating big-ticket patent cases while at Biglaw firms. We were fortunate to build a following on those platforms, which led to meetings with the type of clients we were interested in representing. In the course of those discussions, we found out that for the investment community — traders, hedge funds, whomever — Twitter is a necessary and powerful communications tool.
Being lawyers, our first reaction was skepticism….
Hop in the DeLorean and travel back in time with us.
Labor Day weekend is here. So let’s talk about… labor! In the Biglaw salt mines.
In response to our earlier Flashback Friday posts about associate compensationin the 1990s, we received a few requests for information about billable hours back then. People wanted to know how hard associates had to work back in the day for that $83,000 starting salary.
It’s a good question. You hear anecdotal evidence going in both directions. Sometimes people who have been in the profession for a long time talk about how hard they had to work before technology made things so much easier, recalling the bad old days of never-ending, hard-copy due diligence or document review. On other occasions, though, old timers reminisce about the good old ways when law was more of a profession and less of a business; sure, lawyers earned less, but they had lives — or , at least, better work-life balance.
Which picture holds more truth? Here’s some data….
Let’s give a round of applause to these great firms.
Earlier this week, the American Lawyer released the results of its annual survey of Biglaw midlevel associates (third-, fourth-, and fifth-year associates at large law firms). We’ll start with the good news: midlevels seem to be quite happy. The average composite score for satisfaction hit 4.08 — the highest in a decade, and higher even than last year’s healthy figure.
But just like last year, which revealed a significant gender gap in terms of job satisfaction, this year’s rosy news comes with caveats. The latest survey shows, for example, that women, African-American, and LGBT lawyers are less satisfied than their non-minority counterparts in terms of measures like training, fairness of evaluations, and partnership prospects.
Now let’s move on to the juicy stuff: the firms with the happiest — and unhappiest — associates. Plus a new ranking from Am Law, focusing on which law schools best prepared their students for Biglaw life….
Yesterday, a California appellate court overturned the lower court’s dismissal of a malicious prosecution claim against Biglaw mainstay Latham & Watkins. According to the opinion, the lower court was wrong on the statute of limitations, but the opinion also went out of its way to express just how likely the plaintiffs were to prevail on the merits of their claim that Latham doggedly pursued them on a “non-viable” legal theory.
Latham still has an opportunity to defend itself, but the language of this opinion is certainly not encouraging.
The plaintiff already recovered over $1.6 million in fees from Latham’s client, let’s see how they do against the firm…
Since the launch of alt.legal, Ed and I have received a lot of very interesting emails and feedback. It is apparent that many of you read ATL literally allday love working in Biglaw, but most many have considered taking a walk onto the alternative side (sounds far more erotic than it is).
What we hope to prove to you through this ongoing column is that legal entrepreneurship is exciting, prestigious, lucrative, and, most importantly — to the many resilient lawyers out there who have remained idealistic in the face of back-to-back all-nighters — your best chance to change the legal system for the better. Moreover, despite what you think, innovation in the law is NOT just in e-discovery. Turns out, there are problems worth solving associated with almost every practice, and with each, there are entrepreneurs and innovators ready to change the game. (My co-author, Ed Sohn, is planning to write more on this underground world next time.)
Today, we profile one such entrepreneur, Adam Nguyen, who saw inefficiencies in the always-exciting process of contract review for due diligence (hey litigators, it turns out M&A lawyers have to do document review too), and leveraged $150,000 worth of Harvard Law-branded problem solving to create an innovative technology solution called eBrevia.
* Judge Posner dished out a whole lot of benchslaps at yesterday’s Seventh Circuit arguments over Indiana and Wisconsin’s bans on same-sex marriage. [BuzzFeed]
* Major U.S. and Canadian law firms chow down on Burger King’s whopper of a deal with Tim Hortons. [Am Law Daily]
* A recent Delaware court ruling on attorney-client privilege might allow in-house lawyers to speak more freely about wrongdoing at their companies, according to Professor Steven Davidoff Solomon. [DealBook / New York Times]
* The corruption trial of former Virginia governor continues; yesterday Bob McDonnell’s sister took the stand. [Washington Post]
* A favorable evidentiary ruling for Aaron Hernandez. [Fox Sports]
* And good news for Zephyr Teachout and Tim Wu, the two law professors running for governor and lieutenant governor of New York: the Times dissed their opponent, Andrew Cuomo, with a non-endorsement. [New York Times]
* I recently spoke with one of my cousins Joao Atienza of the Cebu Sun Star, about Above the Law and the world of legal blogging. [Cebu Sun Star]
Earlier this year at the (shameless plug alert) Attorney@Blog Conference, I had the opportunity to meet Guy Alvarez and Joe Lamport, founders of Good2bSocial, a digital agency that helps law firms utilize social media and content marketing to improve their business.
Look, I will be the first to tell you how powerful a good content strategy can be for a business. I even left my cushy Biglaw salary to start a company in the content space. But #Biglaw? Even I was skeptical.
So I was shocked to hear of all the law firms who were being recognized at the conference for their work in social media. How exactly would a firm use Twitter or Facebook to drive business? I decided to invite Guy and Joe to participate in a conversation about the emerging role of social media in law firms….
The week before Labor Day is one of my favorite weeks of the year. Has been for a long time. Even during my decade-plus in Biglaw, a fact that may be shocking to those who believe that the Biglaw experience ranges from the tolerable to the miserable — and never enjoyable. But even for those who feel trapped in the ravenous clutches of the insatiable Biglaw billable hours beast, the end of August almost always offers a welcome, if brief, respite. Because late August is prime Biglaw vacation season, and offices nationwide are running on a skeleton staff.
Partners, and even some associates, are trying to squeeze in some family time before the start of school. The younger set is off for a final round of beach weekends, or just enjoying lazy days in the office, relishing the chance to kick out at a normal hour. With time to hit the gym, before a meal in a real restaurant, rather than a Seamless-delivered dinner in a takeout tray. During my Biglaw years, the end of August meant the last few days of commuting down to the Jersey Shore by ferry from Manhattan, with twilight views of the Statue of Liberty and the Verrazano Bridge. Moments of serenity, even in a city of perpetual motion.
The end of summer can be wonderful, and the temptation to milk the most relaxation out of the waning days of the season great. But it would be a mistake to view this period as only one of enjoyment….
Law firm swag. Ubiquitous and occasionally useful. Years later I still use a slim thermos that fits in my bike bottle holder, though the firm’s logo has long since worn off. But, I mean, who wants law firm branded stuff anyway? Maybe a Wachtell tie might be nice, or a Slaughter & May pencil sharpener, but really, the market outside then-current employees is virtually non-existent. Meaning swag is usually a relatively harmless exercise in self-indulgent corporate team building. Usually….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: