Once you have a lead on a potential client, the next step is to engage this individual or company in some way so that they decide to go with you and your firm for their legal matters. In some cases, you get a “slam dunk”, where they chat with you for a few minutes and it is a go. Other client engagements take a little more finessing, but at the end of the day, both you and the client are comfortable moving forward.
With others, the challenge is figuring out who is trying to get a freebie and just walk away with some free services and advice…
One of Biglaw’s calling cards is the ability to marshal resources quickly to handle nearly any kind of legal issue. Going to trial and need some immediate help with responding to a host of motions in limine filed by your adversary? Even in these days of reduced associate classes, at most firms it would be no problem roping in the necessary support. Need to put a team together on short notice to respond to a preliminary injunction motion? Not a problem. An email or two to the head of the group and a fellow partner or two, and you can have all the resources you need.
With some luck, you can even benefit from assistance in multiple time zones, always a plus when dealing with court deadlines in “foreign” jurisdictions, as is commonly the case in patent matters. Just ask any East Coast-based patent litigator whether they appreciate the extra hour for filing they get in their Eastern District of Texas matters. I know everyone is super-organized and never files at the last minute, but sometimes “unexpected delays” can result in a litigator making full use of the allotted response time for a filing or two.
While the Biglaw beast can be roused to quick action on occasion, it often prefers to move very deliberately towards a target. Patent cases are a good example. While there may be a flurry of activity surrounding an important hearing, or the close of discovery, or trial, there is also a lot of “preparing the case” time. Cases that take years just to get to trial are normal, and when you factor in appeals, it is not unusual for a Biglaw patent lawyer to go from associate, to counsel, to partner during the pendency of a single case. I speak from personal experience on that point….
Let’s say that you started your law firm a year ago, and your business is finally humming along. Meaning that while you’re not taking home a six-figure income, you’re no longer terrified of not making rent. But lately, you’ve noticed that you’re working more late nights and weekends than you’d like, just to keep pace with the steady influx of cases, law firm administration, and ongoing marketing efforts needed to feed the beast. Or, perhaps you’ve let your marketing efforts (like networking events, lunches, and blogging) slide because you can’t fit them into your schedule — but you fear that you’ll pay the price later when business slows. Or maybe you wind up working after hours simply because you’re too distracted by client calls and emails during the workday.
Back in the day when I started out, most solos who found themselves in this situation would either (1) suck it up and work more or (2) hire a newbie lawyer, paralegal, or receptionist, even though they might not have the revenues to cover a full-time employee. And in an extreme situation, some overworked solos simply stop returning client phone calls or timely filing motions due to lack of time and got hit with bar grievances. Today, however, solos experiencing growing pains have far more options to manage workflow and help transition to the next level. I’ll explore some of those options, along with the respective pros and cons, in this post…
The inevitable part of being a lawyer is that you need to work with other lawyers. If you thought you would be able to avoid this or have nightmares about law school classmates, then perhaps the practice of law that necessarily includes working with attorneys may not be for you.
As a small shop, it is important to evaluate how you work with other attorneys. Business is often referral-based and your reputation, which is gold if you are making your own way, will be based on how well you work with others. This does not mean being a doormat, but it does mean starting to understand how to build relationships or, in the least, be collegial with “opposing counsel.”
The patent world can at times seem very small. The same firms, representing the same group of technology companies, pursuing the same strategies, both to maximize profits for their firms and to deliver results for their clients. Sure people move around, but the players in the larger sense are pretty static. Most patent cases are of limited importance to everyone but the parties involved as well. Sometimes a case has a broader scope, and becomes of interest to industry competitors or even investors. Every once in a while a patent case captures the public fancy, as Apple v. Samsung undoubtedly has, usually because of the nature of the parties involved or the ubiquity of the technology at issue. When that happens, the patent world can seem very big — global in scope, even.
Sometimes a little case can actually turn into a huge deal. When the Supreme Court gets involved, for example. Especially when the issue in the case has far-reaching economic implications for society at large, and not just for the litigants involved. I have seen a number of “big” patent cases during my career, but none has the disruptive potential of a case that is set for oral argument next week in the Supreme Court. From humble beginnings as a declaratory judgment action filed in an unusual forum for patent cases (District of D.C.,) the dispute between Alice Corp. and CLS Bank has grown into one of the most closely-watched and debated patent cases — ever. And deservedly so, because the viability of software patents is on the line. With major ramifications possible: for technology companies of all sizes, IP firms and lawyers, the courts, and the good old global economy as well….
Last week, we wrote about lawyers leaving Faruqi & Faruqi, the litigation boutique that’s locked in an ugly legal battle with a former associate, Alexandra Marchuk. Marchuk’s lawsuit accuses F&F partner Juan Monteverde of severe sexual harassment and alleges that the firm’s leaders turned a blind eye to his misconduct.
We asked our readers for more information about the recent Faruqi departures. Well, ask and you shall receive. We have the details on the lawyers who left — as well as info about how Faruqi is looking for laterals, and how much it pays them (hint: not enough)….
Upon some initial success as a law firm, a key question that is faced is what is the appropriate trajectory for growth. This is simply the fancy way of saying, “Do we have enough money for new things?”
New things may include real office space, an administrative assistant, or your first associate. If it is really your first “expansion” conversation, it could include items like finally getting your RingCentral account for faxing or upgrading to a paid Dropbox account. Regardless of what stage you are at in terms of your growth, it is important to pause and make sure the particular amount of growth is right for you…
Growing up in Biglaw, I always thought pricing services for clients was easy. Conversations with clients went as follows: “Our rates range from X to Y, and are very competitive with our peer firms. If you have the audacity to ask for a break on these prices, we can offer you a 10% ‘courtesy discount,’ but will include language in our engagement letter allowing us to recoup that discount and more a few months into the engagement.” Of course, even in the mid-2000s (crazy that those days are nearly a decade ago), X was roughly the monthly lease payment on a well-equipped Honda Accord — for the least “experienced” lawyer in the entire firm — and Y was in the range approaching the monthly mortgage payment for a decent-sized colonial in a “pleasant” suburb. That was how things were priced, and depending on your firm, your rates were either considered cheap or expensive. But that categorization was always relative to other firms in your city, with a usually self-selected “peer group.” So there was always a “premium” (but unnecessary) firm more expensive, and on the other end of the pricing spectrum, a “discount shop” that could be sneered at for trying to undercut the market with low prices aimed at masking subpar legal ability.
When there was a surplus of demand for Biglaw’s services, the above approach was a tenable one. Once that surplus turned into a surfeit, firms needed to get a little more creative. At first, the tendency was to simply offer bigger discounts, with the “courtesy 10% off” turning into 25% off or more. Then clients started informing their firms of new “billing guidelines” where certain types of work would no longer be billable. Or where certain lawyers, such as junior associates whose time would no longer be paid for by clients, were magically transformed from revenue-producers for the firms that hired them to deadweight cost center investments in the “firm’s future.” Add in competition from other firms for a shrinking pie of business, and thinking about pricing became more rigorous. In fact, pricing expertise is one of the only Biglaw job skills with a growing rather than shrinking potential employment base….
Earlier this week, Carolyn Elefant questioned the value of joining bar associations. Particularly their value in generating business for solo and small firm practitioners. Elefant found bar associations lacking in regards to business development, and generally seemed sour on participation in bar associations for smaller firms. Though she did note a few exceptions:
“I’m not suggesting that solos and smalls steer clear of bar membership entirely; after all, bar associations provide a myriad of practice benefits including substantive information on practice trends, affordable continuing legal education (CLE), and advice on starting and running a law practice.”
While I’m inclined to agree with Elefant regarding the operation of small firms most of the time, in this instance, I have to disagree….
Alexandra Marchuk’s headline-grabbing lawsuit against her former firm, Faruqi & Faruqi, has generated a lot of headaches for the firm. It has given rise to some bad PR. It has created client concerns. It has distracted the firm from its mission of shaking down corporate America vindicating shareholder rights.
And is it now causing the high-profile boutique to lose lawyerly talent? Here’s what we’re hearing….
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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
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.