Top ten firms with the most Corp. Counsel mentions.
No one should be surprised that Fortune 500 companies hire some of the biggest names in law for legal services.
Corporate Counsel’s annual report lists the top ten law firms hired by the Fortune 500. As David Lat points out in Who Represents America’s Biggest Companies? (2014), “the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one.”
The answer? Workplace law.
I asked Brian Rice, LexBlog’s CFO/COO, for his thoughts on the Corporate Counsel report. Warning: Brian is a big-time data junkie. His take:
The Platonic ideal of a non-compete agreement envisions an engineer who worked on a team perfecting the latest iPhone quitting in the middle of the night to take a job heading up the Samsung product development team. That’s the sort of industry where companies have a legitimate interest in protecting their intellectual property. And hell, even there the agreement is probably not valid since Apple is based in California and they frown upon non-compete agreements. In any event, non-compete agreements are intended to cover something pretty close to rocket science.
In other words, non-compete are not intended to keep 18-year-old delivery drivers from seeking employment. Yet that’s exactly how bread and meat purveyor Jimmy John’s uses them. A class action lawsuit filed against the company reveals that they force the lowliest of their lowly employees to sign away their rights to work almost anywhere in the food industry as a condition of employment. And we have a copy….
Sometimes, the internet seems to exist largely in order to rate things. User-generated and unverified reviews of everything from movies to cars abound. The thing with this proliferation of ratings, be they on Yelp, or Amazon, or whatever, is that we usually don’t have any idea whether or not the reviewer has any basis for his rating. (In fact, the spoof product review has become its own literary micro-genre.)
Spurious or baseless ratings are not a problem when it comes to ATL’s Insider Survey (17,300 responses and counting — thanks everyone!), in which practicing attorneys and current students evaluate their own schools or employers. Among other things, our survey asks attorneys to nominate firms with over- and underrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.
Which firms do those in-the-know consider to be better (or weaker) than their reputations?
Now, I don’t consider myself the most religious person you’re likely to meet. But I’ve had my fair share of Judeo-Christian indoctrination. And there is one phrase that has always stuck with me: “There but for the grace of God go I.”
Sure, I mostly remember the phrase as my Nana would cluckingly utter it, in a tone that seemed far less Christian than a strict textual interpretation might suggest, but the point remains. Sometimes it is necessary to appreciate the dumb luck and seemingly small and inconsequential decisions that separate your good fortune from those with far less.
That is certainly how I feel about the poor, dumb bastard who had the audacity to take on Biglaw….
Corporate Counsel just released its annual list of the law firms that Fortune 500 companies utilize as outside counsel (as noted in Morning Docket). Not surprisingly, the nation’s biggest corporations turn to some of the biggest names in Biglaw for legal services.
But as we noted last year, the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one….
* Clearly we’ve got some problems, Cleary: Following Argentina’s default, the country is being advised to drop the law firm that said it was a good idea to default in the first place. [The Guardian]
* Lawyers have been flocking to Ferguson, Missouri, left and right to serve as “the eyes and ears of those who protect and guarantee civil rights.” That’s nice, but it’s kind of not working. [National Law Journal]
* “I really don’t know how the people who work there can keep a sense of sort of personal dignity.” American Law plunged in the rankings because of its “dubious employment prospects.” Ouch. [Washington City Paper]
* In case you’ve been wondering what the NFL’s response to all of the cheerleader wage-and-hour complaints are, here it is: “Labor law? LOL. The NFL is immune from state labor law.” [NBC Bay Area]
* Apparently there’s a national court-reporting championship that the world has been missing out on — until now. There was a major upset this year, and a new winner was crowned. Congrats! [WSJ Law Blog]
* In this summer’s Biglaw lawsuitpalooza, real estate and conflicts took the lead as headliners. Poor Boies Schiller had double the trouble when it came to ethics complaints. Ouch. [Am Law Daily]
* New Jersey taxpayers owe Gibson Dunn & Crutcher about $6.5 million thanks to Governor Chris Christie’s Bridgegate scandal. Thanks for the pain in our pocketbooks, chief. [Daily Report (reg. req.)]
* “It’s been a minor inconvenience to us, but of course I don’t like somebody hijacking my name and using it to hurt someone else.” Two Florida law firms are investigating why someone sent out 42 anonymous state bar complaints against one firm using the other firm’s mailing address. [Orlando Sentinel]
* Charleston School of Law is starting a new academic year with even more confusion than it was in last year, considering that its InfiLaw buyout is in a state of flux. Maybe that’s a good thing. [Post and Courier]
* Three ex-Lingerie Football League players have filed class action suits against the club, alleging minimum wage law violations. Come on, pay these half-naked athletes a living wage. [National Law Journal]
* CNN sued over claims that a correspondent bit EMTs at the embassy in Baghdad. And just like that, Baghdad isn’t looking so safe anymore. [MSN]
* Tea Party favorite Chris McDaniel has filed a legal challenge over the Mississippi GOP primary. It’s dumb. [KARN h/t Election Law Blog]
* The Wisconsin Supreme Court upheld the state’s restrictions on unions. Meanwhile the dissent relied on really weak arguments like “actual Supreme Court precedent.” [Labor Press]
* The immigration crisis has inspired Miami to establish a rocket docket, which is a useful response, so we should probably shut it down and encourage drunk militia members to get in boats or something. [Daily Business Review]
* Dan Markel was serving as a legal consultant to the defendants in that Orthodox divorce extortion case. [Village Voice]
* The legal conundra of The Guardians of the Galaxy. Poor Ronan… you plan one attempted genocide and the law is all over you. [The Legal Geeks]
* Yesterday afternoon, two of D&L’s former executives quietly settled a clawback suit filed by Alan Jacobs, the firm’s bankruptcy trustee. Dewey know how much Messrs. Sanders and DiCarmine had to pay the piper? [WSJ Law Blog]
* GrayRobinson is the latest firm to hop aboard the medical marijuana bandwagon by launching its own regulated products practice group. Lawyers will soon puff, puff, pass around those lovely billable hours. [Daily Business Review]
* Pain at the pump apparently extends to this gas giant’s résumé dumps. A suit alleging bias in ExxonMobil’s hiring moves forward thanks to the Illinois Human Rights Commission. [Washington Blade]
* Facebook’s founder Mark Zuckerberg will be testifying against Paul Ceglia in court to prove that the alleged huckster faked a contract that claimed he owned more than half the company. Like. [Bloomberg]
* It seems that Kid Rock has been subpoenaed over a glass sex toy that was supposedly given to him by a former Insane Clown Posse employee. Kid Rock is probably thrilled to be in the news again. [MLive.com]
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: