Ed. note: Please welcome our newest columnist, Gaston Kroub of Kroub, Silbersher & Komykov PLLC, an intellectual property litigation boutique here in New York. He’ll be writing about leaving a Biglaw partnership to start his own firm.
This is a position I never thought I would be in. I am sure my partners feel the same way. If someone would have told me last Thanksgiving that within a year I would, together with two of my colleagues, give notice at my firm to start an IP boutique, I would have laughed. After all, Biglaw was all I knew, starting with my first full-time position as a first-year associate at Greenberg Traurig over a decade (and well over twenty thousand billable hours or so) ago. Leaving Biglaw to start my own boutique? I had honestly never given it a thought before this year.
Now that I am a whole week into the experience, I am happy to report that I have never been more excited for the next stage of my professional career. Even though I no longer have a large office with a view of the Statue of Liberty (and actually am working from home as we negotiate for space), there is something sweet about trying to build a business on my own terms, working together with partners that I have come to value and trust. After all, they had the courage to make the leap as well. While the decision was not an easy one, it already feels like the right one.
Ed. note:Matt Kaiser founded The Kaiser Law Firm PLLC, a white-collar boutique in Washington, D.C., and will now be writing a weekly column for us about white-collar practice and his adventures in building a law firm. Matt previously covered the Supreme Court for us. This is the second installment of his new column.
Suppose you’re a fourth-year associate in a litigation department in a large firm on one of the coasts. You’ve worked on a lot of different matters — you’ve done document review for commercial litigation. You put together a privilege log for some patent litigation (who says patent litigation is specialized?). You waded through documents in an FCPA case. You even got to do some deposition digesting for a reinsurance lawsuit!
You really liked your work on the FCPA document review. You noticed that the documents related to a foreign country, which sounded exotic. You could sit in your office, staring at the brick wall on the other side of the alley, and imagine that you were an extra in Casablanca, with a view toward how the world really works overseas.
Perhaps most importantly, you loved how your friends from law school reacted when you told them you were working on an FCPA matter. Cocktail parties became more interesting when people thought of you as a white-collar criminal defense lawyer, rather than the reinsurance guy. You resolved that you’d do more white-collar work and perhaps make this noble practice area the focus of your career.
Today’s notable move involves Andy DeVooght, coming out of the U.S. Attorney’s in Chicago. DeVooght has an enviable résumé. Before joining the U.S. Attorney’s Office, he worked as a partner at Winston & Strawn and clerked on the U.S. Supreme Court, for the late Chief Justice Rehnquist.
Instead of returning to Biglaw, a common path for someone in DeVooght’s shoes, he’s joining a buzz-generating boutique. Which one?
Ed. note:Matt Kaiser founded The Kaiser Law Firm PLLC, a white-collar boutique in Washington, D.C., and will now be writing a weekly column for us about white-collar practice and his adventures in building a law firm. Matt previously covered the Supreme Court for us. This is the first installment of his new column.
When I meet non-lawyers — a rare and jolting occurrence -– or talk to lawyers who don’t practice in the white-collar criminal space, I’m frequently surprised at how few of them know what “white-collar criminal defense” means.
Yet, whatever it is, white-collar work is seen as sexy. Just about any fifth-year associate who has reviewed documents as a part of an FCPA investigation has “white-collar criminal defense” listed as a practice area on his firm bio. Fewer, I suspect, have a clear understanding of what white-collar work is.
There are clear cases. The prosecution of John Edwards is classically a white-collar case: it involved campaign finance, was in federal court, was litigated like a civil case, and Abbe Lowell represented the defendant (any case involving Abbe Lowell is per se white-collar).
Alexandra Marchuk’s lawsuit against her former employer, Faruqi & Faruqi, and one of its top partners, Juan Monteverde, marches on. And this time the Faruqis are playing offense.
We previously noted the firm’s attempt to make Marchuk look like a bunny boiler — a mentally unstable young woman who was obsessed with Monteverde, the man whom she claims harassed her. And it looks like the firm is sticking to this strategy, trying to call into question Marchuk’s mental health.
Although clients are a law firm’s raison d’être, believe it or not, having a roster of clients on opening day isn’t indispensable to, or even a predictor of a firm’s future success. Many lawyers — whether they are new graduates, or seasoned government attorneys, or moms re-entering the work force, or low level associates and non-equity partners unceremoniously and unexpectedly given the boot — launch law firms without a single client to their name and do quite well, thank you very much.
Still, wouldn’t it be a whole lot easier to start a law firm with one or two clients already locked in? Not necessarily….
Historically, the elite Biglaw firms derived safety and security from the knowledge that they could depend on big fees from large institutional clients. After all, where would the big dogs feel confident sending their legal work if not to a giant, white-shoe firm, with a complete support staff and the cream of the law school graduating crop? It encouraged behemoth firms and no small amount of complacency.
No one doubts that we’ve entered a new normal and that Growth Is Dead (affiliate link), but a new study confirms that there’s even more bad news for the top Biglaw firms: GCs simply don’t want them any more…
Ed. note: This is the latest installment of The ATL Interrogatories, brought to you by Lateral Link. This recurring feature will give notable law firm partners an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.
Jay Edelson is the founder and managing partner of Edelson LLC, a national consumer class action firm. Edelson LLC focuses on consumer technology, privacy, and banking litigation, and has secured settlements valued at over $1 billion in the last five years. Jay also serves as an adjunct professor at Chicago-Kent College of Law, where he teaches class actions and negotiations. The American Bar Association has called him one of the “most creative minds in the legal profession” for his views on associate training and firm management.
1. What is the greatest challenge to the legal industry over the next 5 years?
There is not nor probably will there ever be a definitive novel or film depicting the law firm experience. Law firm lawyers viewing The Firm or Michael Clayton or Ally McBeal are not going to identify with what they see on the screen. Novels like The Partner Track by Helen Wan or Anonymous Lawyer by Jeremy Blachman might be the closest thing (affiliate links).
A truly realistic portrayal of that particular white-collar salt mine would surely be too boring for the public. On the other hand, the comments from the ATL Insider Survey (14,000 responses and counting; thanks everyone) constitute a sort of undistilled document of the Biglaw hive mind. So what do we hear from this depressing, inspiring, contradictory chorus of lawyerly voices?
The ATL Insider Survey asks practicing lawyers to evaluate their employer in terms of compensation, training, culture and colleagues, firm morale, and hours. The survey also asks, “What would be useful or interesting for a law student or potential lateral to know about your firm?”
Reading through all the responses to this question, a handful of recurrent themes emerge….
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 six years. You can reach them by email: firstname.lastname@example.org.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
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