In 2008, a paralegal at Weil Gotshal alleged in a lawsuit that Matthew Powers, co-chair of litigation at Weil at the time, ruled over his domain with the “pimp hand” and the “mojo hand.” The “pimp hand” was used to intimidate and coerce, while the “mojo hand” was used to stroke and cajole.
In 2011, Powers, one of the nation’s leading intellectual-property litigators, left Weil to start his own firm, Tensegrity Law Group. In leaving Biglaw, he also left behind a stable of blue-chip clients, focusing instead on representing plaintiffs on a contingency basis.
Two years into his new venture, some observers are wondering whether Matt Powers has lost his powers….
I just finished reading Gone Girl (affiliate link), the riveting and disturbing novel by Gillian Flynn. It brilliantly demonstrates, in a way that lawyers can appreciate, how the exact same set of events can be explained in radically different ways.
Given its focus on fighting, in terms of the war between the sexes and the battle for the truth, Gone Girl was appropriate to read in between the latest filings in Marchuk v. Faruqi & Faruqi. The salacious sexual harassment lawsuit has the entire legal world talking.
Yesterday we wrote about Alexandra Marchuk’s second amended complaint. Now let’s dive into the answer, filed with impressive swiftness after the complaint, which paints a very different picture of events and of the plaintiff….
Regular readers of Above the Law know about the class action lawsuits brought against some law schools accused of fraudulently inducing students to enroll. For example, ATL covered the great legal work evident in the dismissal of a lawsuit brought against New York Law School, and the affirmation of that dismissal on appeal.
What you might not know, however, is that cooking schools, including the California Culinary Academy in San Francisco, were defendants in similar litigation long before law schools were. I knew Ray Gallo, the attorney prosecuting some of those landmark cases, so I followed them closely. Those lawsuits established a kind of model for proceeding against law schools. Unfortunately for the cooking schools, their litigation results were significantly worse than those obtained to date by the law schools.
Anyone who has considered opening a solo or small firm practice can’t help but worry whether their venture will be successful. Provided the worry does not overwhelm, this can help keep you motivated and focused.
But focused on what? When considering whether they can run a successful practice, law firm owners should look beyond the math and consider the more philosophical question of how exactly they define “success.”
Of course, a law practice is a business and to that extent its goal is to make a profit. A business that is not profitable is not successful even if it provides exceptional service. An unprofitable venture inevitably will fail, definitely answering any philosophical question as to its success….
On the “Our Professionals” section of its website, Finnegan Henderson boasts that it has “375 lawyers focused on IP.” It may be time to revise that downward: “371 lawyers focused on IP.”
Last night, the high-powered, intellectual-property-focused firm announced four notable partner departures. The Finnegan partners in question practice in the generally hot area of IP litigation (although we’ve heard anecdotal reports of cooling, including stealth layoffs of IP litigators — see here and here).
Who are the departing Finnegan partners, and where are they going?
I have in my office a framed print of the classic New Yorker cartoon: “You have a pretty good case, Mr. Pitkin. How much justice can you afford?” I often find myself referring to the cartoon when talking to prospective clients.
Last week, I was having a business lunch at Michael Chiarello’s Coqueta overlooking the San Francisco Bay. (Those who know me won’t be surprised that I managed to combine a business meeting with some good eats. I’ll save my restaurant review for another time, or you can read it on OpenTable.)
Anyway, my lunch was with a partner at Leason Ellis, a thriving IP boutique in New York. The firm is a boutique in that the lawyers are specialists in intellectual property; as far as I know, that is their only practice area. But within that subject matter, they have both a litigation and transactional practice. Conversely, with limited exceptions, my own firm has remained a litigation-only boutique since it was founded four years ago. We handle a wide range of subject matters, but only do litigation within those subjects.
What are the pros and cons of running a litigation-only shop? Why haven’t we added a robust transactional practice as well?
Next week my firm will celebrate its fourth anniversary. I can’t believe it has been that long. It seems like yesterday that I was sitting at my desk at Quinn Emanuel, thinking about cases worth millions of dollars but still too small to be economically handled by traditional Biglaw firms. I wondered if I might try to serve a growing market hungry for less expensive but still high-quality litigation. Not long thereafter I was conspiring with my partner over the details, drafting business plans, and conducting informal marketing surveys.
As my firm approaches its fourth anniversary, it’s interesting for me to think back to my early plans and consider what worked, and what did not. What happened as I predicted or hoped, and what was unexpected…
Starting a new firm is daunting. Many lawyers focus on their expenses, and are pleasantly surprised that the overhead and other necessary expenses are less than they expected. But the real difficulty arises on the other side of the ledger because accurately projecting income can be so elusive.
If you’re starting with guaranteed clients, then making projections is easier. But otherwise, you really can’t project your income unless you know the extent to which your business plan in general (and your business development plan in particular) will succeed.
Even if you can accurately project how much potential business you will have, it’s still easy to slip by overestimating your expected income…
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.