Ed. note: Please welcome our newest columnists, Ed Sohn and Joe Borstein of Pangea3, who will be writing about the alternative legal services market and the future of the legal profession.
Stop what you’re doing! Take a journey with us to the alternative side of the legal profession for the next few minutes (and through our ongoing column). There is a revolution happening in the practice of law. And you should join it. Or, at the very least, break out the fanny packs and the binoculars and watch. For now, stop your SmartTimer and get off the clock… because as it turns out, reading this is NOT billable. Maybe try your favorite non-billable code, like “professional development.”
Here’s the newsflash: entrepreneurs and innovators are changing the legal profession for the better, having fun, and making real money in the process. The unstoppable forces of modern business — technology, globalization, the need for sleep/food/conjugal visits — are at the gates and climbing the highly defensible ivory tower….
Meditate on that for a moment. Breathe in through your nose. Breathe out through your mouth.
Five million bucks per year.
Breathe in through your nose. Breathe out through your mouth.
I lost the slidy-thing from my slide ruler so I have to do this in my head, but I think that’s about $100,000 per week per equity partner. A little less than a newbie associate makes in a whole year outside of the major metropolitan areas.
Imagine all the things you can buy with that kind of money. A mansion that looks somewhat familiar every time you visit it. Luxury vehicles for your nanny. Dream trips for your spouse. The finest private schools for your kids. An iPhone for your son so he can talk to you every day. A high-end camera your wife can take to your daughter’s soccer game so you can watch her play through live streaming video. Oh, the joy that kind of money you can bring your family. It’s not Powerball, but it’s most certainly a lottery win per year.
I spent ten hours in a deposition on yesterday in the office of a large law firm in Los Angeles. Just looking around the room, I noticed two things: 1) they were better dressed than we were, and 2) our computers were so much better than theirs. I stepped out into the hallway and noticed that a lot of their hardware was stuff that a public school would auction off. It reminded me of the first few years of my legal career when I worked in a large law firm. We had all the amenities you could want. All of our legal pads were branded with our firm’s logo, and we wrote on them with pens that had our firm’s logo branded on them. I ate lunch every day in our break room that looked over the ocean. But, when lunch was over, I would go back to my desk and work on Office ’97 on my bulky CRT monitor. This is because large law firms are very big, slow-moving beasts, especially when it comes to technology.
My fellow columnist Nicole Black wrote an article last week about how a small firm is using technology to keep up with Biglaw firms. This is not a fantasy. When I was working at the aforementioned large law firm, my boss told me a story about a solo practitioner. By way of background, we represented a Fortune 500 company, had an army of Ivy League attorneys, and almost unlimited resources. Despite all that, this solo practitioner was able to run circles around us. He was better organized and was able to do things more efficiently. The case we had against him was before my time, so I had no idea if it was true, but the important thing was that, having seen how the sausage was made there, I knew it was absolutely possible.
Does being a Biglaw partner mean never having to say you’re sorry… for annoying, rude, or stupid firm-wide emails? When associates hit “reply all” to firm-wide emails, they sometimes wind up in hot water. But when partners send their random musings far and wide, their colleagues often praise them.
Sure, occasionally “reply all” emails from partners don’t go over well. Sometimes the messages come across as lecherous: “I admire your gumption, especially when you’re in a tight dress.” Sometimes they sound disloyal: “Why are we both still at this firm?”
Today’s Biglaw partner “reply all” doesn’t rise to those heights of cringe-worthiness. But it’s still bad enough to be worth sharing with you….
(Please note the UPDATE added below, which puts the partner’s email in proper context.)
There are certain legal skills of critical importance that receive the same level of attention as a mid-summer pilot for a sitcom not expected to make it to the fall slate. In fact, there is usually a disconnect, particularly in Biglaw, between what is “taught” and what lawyers really need to learn as they develop. A recent anniversary of sorts reminded me of an example. Let’s discuss the notably unglamorous, but often critically important, role of “second chair” at a hearing or trial.
For the uninitiated, the typical hierarchy on a litigation matter for lawyers is support (faceless associate research drones), team member (associate or higher who is “on the case” but may not even get to sit at counsel table), second chair (trusty lieutenant, perhaps content in the role, or perhaps gunning for more), and first chair (field marshal winning the war and the peace on behalf of a grateful if lighter-pocketed client.)
August is the anniversary of my first patent trial, well over a decade ago….
It’s that time of the year when law students should start preparing for on-campus interviews. They’re straightforward, right? Wrong. ATL’s recruiting experts have designed this challenge to help you determine whether you really know how to nail the interview. Take the On-Campus Interviewing for Law Firms challenge and find out if you are truly ready for OCI season.
(This challenge is brought to you in partnership with our friends at CredSpark.)
Woo, Biglaw! Being a summer associate is the best!
There are several things that we can learn from this year’s summer associate event contest, because our readers’ unique tastes manifested themselves in the results. Lawyers and law students really like pop music performed by some of the hottest acts in America, but they love liquor even more. They’re wishy-washy when it comes to sporting events, but they absolutely hate cooking. After all, cooking is a real non-sequitur when Biglaw attorneys survive on Seamless.
Keeping these facts in mind, which firm do you think we’ll crown as the winner of this year’s competition?
* “I’m pretty sure I just got fired.” Before the bud business was big enough for Biglaw, the mere suggestion of going green was allegedly enough to warrant some pretty major disciplinary action from a leading law firm. [National Law Journal]
* Judge Thomas Griesa is toying with holding Argentina in contempt for saying that it didn’t default. Argentina struck back with the social media hashtag #GrieFault. Clever. [DealBook / New York Times]
* Dzhokhar Tsarnaev’s defense team has an expert who says that any jury in Massachusetts will be tainted because of the “inflammatory” news coverage of the Boston Marathon bombing. [WSJ Law Blog]
* The ABA’s new Task Force on the Financing of Legal Education held its first public hearing to try to figure out why law school tuition is high. The ABA is so late to the party it’s not even funny. [ABA Journal]
Woo, Biglaw! Being a summer associate is the best!
Summer associate class sizes may be smaller than they were back in the good old days, but Biglaw firms seem to have used the shrinking summer pool as an excuse to throw events that were overflowing with an abundance of awesomeness. Offers are still being tossed out like Mardi Gras beads, and life was very, very good for this summer’s crop of Biglaw initiates.
But just how good are we talking here? We think the fact that we received an overwhelming number of nominations for this year’s summer associate event contest speaks volumes. We managed to whittle down the list of 20+ gushing nominations we received to just eight of the most amazing. Some were cultural extravaganzas, others were athletic outings, but all were fun and absolutely fabulous. Thanks to everyone who submitted a nomination.
Did your firm make the cut this year? Take a look to find out…
* When it comes to all of the same-sex marriage cases that are currently before the Sixth Circuit, the deciding vote could be cast by Judge Jeffrey Sutton, a Republican appointee. [National Law Journal]
* Weil Gotshal snagged a partner from right under one of its largest competitor’s noses. Ray Schrock, formerly of Kirkland & Ellis, may someday co-chair Weil’s restructuring group. [WSJ Law Blog]
* “I got the reward that most volunteers get — which is I ended up having to read many, many hundreds of pages.” This Ogletree Deakins partner figured out how to undo Obamacare in his spare time, and all he got were these lousy bifocals. [Greenville News]
* On-campus interviewing season is almost upon us, so we’re going to give you all of the tips you can stomach. Here are a few more ways that you can hit all of your interviews out of the park. [The Careerist]
* Albany Law and the University at Albany are shockingly not already affiliated with each other, but they’re exploring an “operational alliance.” Will that mean fewer faculty buyouts, or…? [Albany Business Review]
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.