Boutique Law Firms

* Extra frothy: Santorum’s trifecta of wins in Minnesota, Colorado, and Missouri has made Mitt Romney angry. Because even a guy who wins nonbinding primaries can be dangerous to a man’s campaign. [New York Times]

* Richard Holwell, the judge who presided over Rajabba the Hut’s case, will be resigning and starting a boutique firm with two partners jumping ship from Kasowitz Benson. [Thomson Reuters News & Insight]

* Joe Amendola claims that evidence is being withheld in his client’s case — evidence like the alleged victims’ phone numbers. Why does Sandusky need those? So he can call and breathe heavily into the phone? [Philadelpha Inquirer]

* Foxy Knoxy’s lawyer is appealing her slander conviction in Italy, claiming that the police “manipulated” her during questioning. You were already cleared of a murder charge, stop pushing your luck. [USA Today]

* It’s really too bad that Lindsay Lohan doesn’t employ Biglaw firms for all of her drama, because given what she’s spent on legal fees in recent years, those prized spring bonuses would assured. [Huffington Post]

Tom Wallerstein

A general counsel recently asked me, “Why should my company risk hiring a lesser-known, small firm?”

I told him that it shouldn’t. I don’t think any company should unnecessarily “risk” its business without good reason. I’ll be the first to admit that there are some matters that simply demand big firm attention.

But I also told the GC that there were many matters that I thought my smaller firm could handle just as well as could a big firm, and with cost savings that would be relatively significant given the amount at stake.

I wouldn’t ask someone to hire me if I thought that doing so was risky for them. A client should not have to choose to lose or win; it needs to make sure the small-firm attorneys have the necessary skill and experience. But with that caveat, some matters are particularly well suited for boutique treatment.

Assuming a client can afford to hire a Biglaw firm for a particular matter, why might it consider a small firm or boutique — beyond the obvious lower cost?

double red triangle arrows Continue reading “From Biglaw to Boutique: Which is Better for Clients?”

Tom Wallerstein

When Above the Law first covered my “adventure in shingle hanging,” I remember someone quipping that our only business came from attorney referrals and that we didn’t have our “own” clients. The comment wasn’t true, but I still found it interesting. Is a client who pays you money somehow not “your” client, or not a “real” client, just because the client was referred to you by another attorney? That doesn’t make a lot of sense to me.

But it is worth thinking about the different ways that solo and small law firms try to generate business. There is a valid distinction between approaching a prospective client and asking him to engage you, and approaching other lawyers and asking them to refer cases to you. I’m not sure one is necessarily superior to the other, but they are different approaches. I think of them as “direct” and “indirect” client solicitation.

I also distinguish “active” and “passive” methods. An active approach is where you identify your client and solicit them. A passive approach is where you do something that encourages clients to solicit you. Passive isn’t a pejorative; for example, a good website is an important part of passive business development.

So, I think business development efforts can fall into a matrix. Check it out, after the jump….

double red triangle arrows Continue reading “From Biglaw to Boutique: A Marketing Matrix”

Tom Wallerstein

For some, the phrase “small law firm” implies certain stereotyped practice areas, clients, and attorneys. At its worst, the stereotype invokes unsophisticated clients and matters that are routine and uninteresting. I doubt the stereotype is wholly true anywhere. I know for sure it isn’t true in San Francisco or Silicon Valley.

I know many attorneys in small firms who have specialized, high-end practices. These specialized practices are often called boutiques, and they are perfectly suited to serve the entrepreneurial, high-tech client base that abounds in the San Francisco Bay Area.

Even in the down economy, a number of new ventures were launched in Silicon Valley. Geographically, the high-tech corridor also seems to be expanding, thanks to Twitter, Zynga, SalesForce.com, and the like setting up shop in San Francisco. You don’t even need a Visa or traditional office space to launch a startup anymore; now you can enjoy Peter Thiel’s “Visa-free entrepreneurship and technology incubator on an ocean vessel in international waters.”

It remains to be seen whether we’re experiencing a boom or just another bubble, but I guess it doesn’t matter anyway. I’m not an economist and I’m not making predictions. I am only remarking on some great practice opportunities for smaller law firms which exist here, maybe because we are fortunate to have so many imaginative, passionate, and savvy entrepreneurs working on exciting projects in so many different industries….

double red triangle arrows Continue reading “From Biglaw to Boutique: Beyond the ‘Small Law Firm’ Stereotype”

I believe the defendant failed a saving throw against berserker, so when he killed those people he didn't know right from wrong.

* Dressing shrinks as wizards when they testify would be an AWESOME idea. I’m serious. Why can’t we have this? And titles, too. “Your Honor, I call Dr. Freud — Ph.D in weakness management and keeper of the sacred staffs of Ivory guard — to the stand.” [Overlawyered]

* iTextbooks! Could be awesome, could widen the gap between the rich and the iPoor. [Adjunct Law Prof Blog]

* Old lawyer accidentally smuggles a gun onto a plane, mainly because security — which noticed said gun — forgot to stop her. TSA doesn’t make us more safe, folks. It just makes us more molested. [Daily Mail]

* Apparently, LLMs go great with Brazilians. The people, not the grooming. Or maybe both — I don’t know, but I was only asked about people. [Live Mint]

* To be clear, putting slavery analogies into our math problems is bad… unless you are a college basketball or football star trying to work out how much you got paid in free tuition for last night’s game, versus how much the university made off of the performance of your team. Then the analogy is “apt.” [CBS Atlanta]

* White people problems, written by a former Cahill Gordon associate who quit to take a job in television. [Funny or Die]

* Additional impressive hires by an elite litigation boutique. How long before MoloLamken ends up on somebody’s hot list? [MoloLamken]

If you’re a bride-to-be — and let’s face it, even if you’re not — you’ve probably seen at least a few episodes of TLC’s Say Yes to the Dress. The show features the goings-on at Kleinfeld, one of the premier bridal salons in New York City, where staff members assist brides in their quest to find the perfect wedding dress.

Imagine our surprise when we tuned in to watch the show, and caught a glimpse of a beautiful lawyer searching for a wedding gown. But this was not just any lawyer — this lawyer used to have an action-packed career as a stunt woman. These days, though, she gets all of her action inside of a courtroom.

So who is this stunt woman turned lawyer? Why did she decide to make such a drastic career change? And how did she snag her husband, the general counsel to a Fortune 500 company?

All of this and more, including some glamorous wedding photos, after the jump….

double red triangle arrows Continue reading “Here Comes the Bride: Stunt Woman Turned Lawyer Featured on ‘Say Yes to the Dress’”

Tom Wallerstein

Thanks to everyone who has sent me emails; really, I’m flattered. I promise I will get back to everyone. A lot of people have asked me questions. For example:

“I am currently a third-year law student . . . . I am hoping to eventually open my own firm (sooner rather than later perhaps) as I am willing to suffer the first few years of practice and not making money in hopes that I can recoup that years down the road . . . . I do not feel that my best years should be wasted working for somebody else (my opinion of a firm is that they are useful right out of school to ‘learn the trade’ but outside of that the firm benefits more from an associate than the associate benefits from the firm . . . .”

I’ll answer this one publicly:

If you are in law school and you have the choice between working for an established firm — big or small — or working for yourself/starting your own firm, it’s a no-brainer that you should go with the established firm first. You can always leave the firm to pursue your own practice at any time, but the converse isn’t true: Once you go out on your own you might forever lose opportunities you have as a student.

In any event, I disagree that a firm necessarily benefits from an associate more than an associate benefits from the firm. I’ll stick with the only thing I really know: my own personal experience. I wrote in my first-ever blog post that “none of my limited success would have been possible without my Biglaw experience.” I think there are three reasons this is true for me….

double red triangle arrows Continue reading “From Biglaw to Boutique: Why Wait?”

The other day, I was at dinner with some Biglaw friends. While I prefer to associate only with my small-firm kin, I needed someone to pick up the check. And, I thought I could do some missionary work and convert my friends in to small-firm lawyers (so I could mine them for story ideas, obviously).

Something unexpected happened during dinner. One of my friends asked me why I believe small-firm life is so different from Biglaw. I went through my standard list of reasons: quality of life, money, autonomy, mentoring, etc. I even cited Tom Wallerstein’s Top Ten.

That was where things took an unexpected turn: my friend did not buy it. Indeed, by the end of our dinner he had me questioning my beliefs. Does size matter, I thought? Needless to say, as a woman who has devoted her “career” to writing about small-firm life, this experience shook me to my core.

Let’s see if you can help me make sense of that night….

double red triangle arrows Continue reading “Size Matters: Crisis of Faith”

Like most of you, I spend my free time trying to come up with a plot idea for Miss Congeniality 3. Indeed, Miss Congeniality and Miss Congeniality 2: Armed and Fabulous were just not enough. It is hard, however, to mess with perfection.

Having reached the limits of my creativity, I decided to look to actual events (and, of course, small law firm news) to serve as the inspiration for my movie plot. And I found just what I was looking for, thanks to a real-life Miss Congeniality and Mr. Social Security.

Intrigued? Check out photos of a certified hottie, after the break….

double red triangle arrows Continue reading “Size Matters: Plot Idea For Miss Congeniality 3″

Tom Wallerstein

When I started my firm, several mentors gave me the same advice: Don’t work for free. It’s easy to see the problem with working for free. Giving away what you’re trying to sell isn’t exactly in the business plan. Unfortunately, this sage advice can only really be learned the hard way, through experience.

Working for free can arise in many different ways. The most obvious example is a client who wants you to represent him but can only promise to pay you later.

Even if your gut tells you that taking on that client is a bad idea, this can be surprisingly tempting to a new firm or solo practice. For starters, there is such a thrill with getting your first client, or your first “real” client, or your first big client, or your first whatever client, that the excitement can cloud your better judgment. You will be tempted to overlook the red flags that you will not be paid for your work….

double red triangle arrows Continue reading “From Biglaw to Boutique: Working for Free”

Page 22 of 361...181920212223242526...36