Landing a corporate client is usually a happy time for any law firm, big or small. Now, the representation may not be a day in the park — after all, there are many, many ways for general counsel to drive outside counsel absolutely nuts. But even so, this kind of a client is another notch in your firm’s belt, no matter how difficult the relationship. Especially given today’s economy, this is a client that your firm will want to keep for as long as possible.
But regardless of everyone’s efforts, your firm just couldn’t seem to get it right. Your firm’s lawyers tried to placate the legal department’s every whim, to apparently no avail. Perhaps the proposed budget was a little too high. Perhaps an attorney from your firm was just a bit too snippy with in-house counsel. Whatever the case may have been, your firm got fired.
Why does this keep happening, and how can you make it stop?
* “This case has nothing to do with the United States.” We’d normally let that slide because of this law from 1789, but now the Supreme Court is suddenly skeptical about the validity of the Alien Tort Claims Act. [Reuters]
* “Why are we being punished for Dewey & LeBoeuf?” Come to think of it, former employees at the failed firm are probably wondering the exact same thing as the fictional characters on “The Good Wife.” [WSJ Law Blog]
* Reduce, reuse, and recycle your claims? New York Attorney General Eric Schneiderman filed suit against JPMorgan, alleging that the bank’s Bear Sterns business defrauded mortgage-bond investors. [Bloomberg]
* A man of many firsts: Randall Eng, the first Asian judge in the state, was appointed to lead New York’s Second Department as presiding justice, the first Asian-American to serve in the position. [New York Law Journal]
* Why shouldn’t you get a dual JD/MBA? Because hiding out in school for another year isn’t going to save you from all of the extra debt you’ve incurred earning yet another degree. [Law Admissions Lowdown / U.S. News]
Everyone has been mistreated — by bureaucratic institutions, unhelpful sales people, or phone systems that make you press ten buttons only to be left on hold for half an hour.
Given how awful the “usual” service is, it’s really not that hard to impress people with the quality of service that you provide. But, remarkably, lawyers (and others) screw this up all the time.
Suppose (to recount an incident I heard about recently) you’re asked to handle a trivial legal issue at a time when you’re swamped with other stuff. You are able to help; you are simply unable to help today. Consider two ways of handling this: First, silently ignore the issue for several days until you have time, and then deal with it. Second, tell the client that you’re currently swamped, but that you’ve received the request and your best guess is that you’ll handle the matter, say, early next week. If you’ve misunderstood, and this is an emergency, the client should let you know, so you can move this task up in the queue.
Nothing pisses off a lawyer more than uncertainty. Uncertainty gives rise to the risk of undermining the facade of perfect knowledge that attorneys prefer to convey to their clients. Given this character trait, it’s no surprise that the collective white-collar and corporate counsel community is freaking the hell out about every scrap of information it can glean from the Justice Department about its new Foreign Corrupt Practices Act (FCPA) enforcement policy.
So what exactly has these observant lawyers in a tizzy?
Hello readers! This post marks the one-year anniversary of my writing for Above The Law. **Hooray!** Whew, okay, now that all of that crazy excitement is over with, let’s move on.
Every once in a while, I meet people who ask whether there’s any value in doing a clerkship if they would eventually like to practice transactional law in-house. Like a dutiful little blogger, I consulted with several senior in-house attorneys on their thoughts about whether a clerkship is valuable for an in-house transactional practice.
The lawyers I consulted who hadn’t clerked generally saw little to no value in a clerkship with respect to an in-house transactional practice. Why spend an entire year of effort on something that’s not going to be directly applicable to your practice (and, by the way, pays diddlysquat), when you could be getting firsthand experience drafting contracts and working on deals on Day 1? Plus, it’s not like businesspeople have a clue what the difference is between a law clerk and, you know… a rock.
The attorneys who had clerked, on the other hand, saw many potential benefits….
Each year, Corporate Counsel compiles a list of the firms that the Fortune 100 companies use as outside counsel. These are the firms that corporate clients turn to when they’ve got bet-the-company litigation. From Exxon Mobil to Apple to Walmart, and everywhere in between, these are the clients with the deepest of pockets, and if you care at all about the business end of the law, then this is a list that you should care about.
But this time around, the list looks a little different. Due to the state of the economy, general counsel are now looking for more ways to reduce costs, and are constantly seeking out alternative fee structures. The firms on this year’s list may have been the ones that were most amenable to such changes.
Without further ado, let’s take a look at which firms topped this year’s list….
Here’s a sad tale that I’ve heard repeatedly recently from senior partners at major law firms.
When these partners were associates, they were superstars. They did great work, were in high demand, and sailed through the ranks.
These folks were invited into the partnership along with (or even before) their peers.
As junior partners, these folks remained superstars. Senior partners were anxious to delegate responsibility to these people, and the then-junior partners were flattered to be asked. The junior partners were doing interesting work, being paid handsomely (if not royally) for their efforts, and were contentedly busy.
But a funny thing happened on the way to retirement. My correspondents became senior partners, and this crippled them (professionally). They had aged out of utility to their firms. . . .
Blind item: which fairly powerful, yet overly fey — and we’re talking Dana Carvey “Gay?? That’s ridiculous!!” fey — and married Biglaw partner with top school credentials, regularly double and triple bills clients?
Blind item: which Biglaw firm, when faced with a lawyer deponent from a small shop who was clearly mentally unstable, chose to do nothing, ignoring its reporting obligations?
I mention the above anecdotes because they are all true, and because they all include reportable ethical breaches. When we were inducted into the Second Department in Brooklyn, and in ethics class, our reporting obligations were hammered into us — yet, nothing is ever done. Why?
You’ve seen it time and time again in these pages: years spent in Biglaw can lead to great excesses, and we’re not just talking about those luxurious lawyerly lairs. Biglaw veterans also go to extremes in other areas of life, including overindulgence in alcohol and violence.
Take, for example, Bryan Brooks, a former Skaddenite. After doing a four-year stint at the firm, Brooks moved in-house at American Express. It’s a good thing he chose the credit card company as his new home, because back in June 2011, Brooks had a major “don’t leave home without it” moment. Unfortunately, it wasn’t his Amex card that he was worried about.
In this case, Brooks wished that he had his defense attorney’s phone number on hand, because he was accused of slashing a bar patron’s face with the classiest weapon of all: a broken champagne flute….
An important UPDATE — namely, Brooks’s vindication at trial — after the jump.
I was recently asked to write an article about the future of Biglaw. (That’s one of the benefits of writing this column: Writing yields more opportunities to write. Like first prize at the pie-eating contest.)
I naturally asked some Biglaw acquaintances what they saw in their firms’ futures, in an effort to generate some grist for the article’s mill. (Given that I occasionally write in unbelievably awkward, and arguably unintelligible, mixed metaphors — such as “grist for the article’s mill” — it’s a wonder that Lat even permits me to continue writing this column, let alone that others solicit me to write in other fora. But that’s neither here nor there.)
What do my Biglaw lunch dates (and others whom I pester) say about their futures? They say many things, but one common refrain about the future of Biglaw is “consolidation. Big law firms will continue to merge, and only the biggest will thrive.” When I ask why firms will feel compelled to grow, folks often say: “Clients insist on it. Clients want one-stop shopping.”
What clients? Any real ones, or just theoretical ones? I, at least, don’t insist on one-stop shopping. . . .
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
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:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.