Ed note: Stat of the Week is a new feature that pulls custom data points from ATL Research as well as noteworthy sources across the web.
Last month at the Gaylord Opryland in Nashville, the International Legal Technology Association (ILTA) held its annual conference. As would be expected, the event generated a tremendous volume of Twitter chatter, much of it focused on statistics. The LexisNexis Business of Law blog has compiled a collection of the most compelling, quirky, or frankly speculative #ILTA14 numbers (e.g., “Prediction: 10 years 40% of the Fortune 500 won’t exist.” – Shirley Crow). Read on for more highlights.
Would it surprise you to learn that lawyers talk a good game, but rarely follow through substantively? Well, in that case here’s a dog-bites-man story for you: lawyers are quick to share their concern about maintaining the security of their clients’ files and not so quick to invest in the technology required to do so.
A couple days ago on Twitter, I noticed Judge Stephen Dillard having a conversation with a few people about the validity of using Wikipedia as a reliable legal authority. I mentioned that I wrote about the topic back in 2011. But given the continued growth and reliance of the general public upon Wikipedia, I decided it was probably worth looking at again.
I recently noticed a post by James Levy over at the Legal Skills Prof Blog about LexisNexis’s new “Think Like A Lawyer” program. The program aims to help law students be more prepared to work at a firm while they are summer associates. But as Levy points out:
“Apparently some employers have hired summer law clerks chiefly for the purpose of taking advantage of their free computer research access which until now has been a violation of the end user agreement. But Lexis is changing that with the announcement this week of a new training program called ‘Think Like a Lawyer’ that, among other features, gives 1Ls and 2Ls free, unlimited access to computer research over the summer which they can use in their jobs. That’s going to make it easier for at least some students to find summer clerkships especially with smaller firms where free Lexis access will add value.”
Firms using summer associates purely for free legal research?!? Say it ain’t so. But if that’s the case, just call it the “Free Legal Research Monkey” program and not “Think Like a Lawyer.” Because my knee-jerk reaction was: “Ugh, law school graduates actually need to think less like a lawyer….”
When times are tough for law firms, others suffer too. If a firm as prestigious and profitable as Weil Gotshal is conducting open and notorious layoffs, and rival firms are conducting stealth layoffs, rest assured that other creatures in the Biglaw ecosystem — technology vendors, legal recruiters, Mercedes dealers — are feeling pain.
Take media outlets that cover law firms. American Lawyer Media recently cut at least 35 positions from its editorial and production staffs, amounting to about 7 percent of headcount within those two groups. Kevin Michielsen, chief operating officer of ALM, said the layoffs resulted from the company’s shift to being a “digital-first” operation, not cost cutting. But considering that ALM labors under a nine-figure debt load, cost cutting might not be a bad idea.
But the Am Law layoffs pale in comparison to the cuts over at LexisNexis, at least in terms of raw numbers. The company didn’t provide numbers, but the estimates might surprise you….
Oh my, I can’t believe a major legal publisher is selling cheap-looking plaques for hilariously useless achievements. Actually, I can totally believe it.
I’ve never bought into the idea that lawyers need “credibility trophies.” Lawyers who festoon their offices with scores of plaques come across as desperate. Lots of plaques commemorate dubious achievements, and any colleague or client given a few minutes to examine the decoration will discover this and wonder, “Why did he/she hang this?” But sadly, much of the profession ascribes to the “plaques for plaques’ sake” mentality.
If an office must be adorned with memorabilia of legal achievement, frame the law school diploma, bar admission certificate(s), and any major achievements like being president of the bar association or something. These provide all the indicia of achievement a lawyer needs.
And nothing says “plaques for plaques’ sake” like a redundant plaque. Like a plaque that says, “If you didn’t notice the diploma on the other wall, this certifies that he REALLY did go to Harvard.”
* This guy could teach a master class in how to stand by your (wo)man. Mary Jo White’s husband, John White, will relinquish his equity partner status at Cravath upon her confirmation as the head of the Securities and Exchange Commission. [Am Law Daily]
* Macho, macho man: it looks like we’ll never know if Dechert actually has a “macho culture,” because the FMLA and paternity leave case that questioned the very existence of this Biglaw subculture was settled out of court. [National Law Journal]
* Why you gotta go and ruin Valentine’s Day for everyone at O’Melveny and Akin Gump? Apple’s request to speed up the Greenlight Capital case was approved, with arguments now scheduled for February 19. [CNET]
* Despite her nomination being crapped on by the Senate, Jenny Rivera, the CUNY School of Law professor, was recently confirmed as an associate judge of the New York Court of Appeals. [New York Law Journal]
* “Behold, the instrument of your liberation!” Survivors of the Aurora movie massacre are being harassed by conspiracy theorists, and the DA asked the judge to scrub their names from the record. [Courthouse News]
* I didn’t make this list of the 25 most influential people in legal education. That pisses me off. I’m going to start writing about how people shouldn’t trust legal educators because law schools are only interested in profits and not the employment outcomes of their students. That’ll show ‘em! [Tax Prof Blog]
* … Of course, you know what else doesn’t make any list of influencing legal education? The truth. [Constitutional Daily]
* Time Warner Cable is well within its rights to act like feckless cowards. [Huffington Post]
* I like watching the Feds try to roll rich people. I’ve got no horse in the race, I’m just there for the competition. [Dealbreaker]
* U.K. considers forcing fat people to lose weight in order to keep their benefits. I was going to make a “Britain, outsource, BBW” joke, which somehow led me to the Wikipedia page for BBW, a page that has really not at all what you’d expect the graphic on BBW to be. [Legal Blog Watch]
F. Scott Fitzgerald once opined that there were “no second acts in American lives.” Similarly, Biz Markie once opined “’cause we all pick our boogers sometime every day.” If you’re already lost, allow me to explain. This is the story of a former Biglaw attorney and his second act. He and his friends started a website devoted to rap lyrics. The website annotates rap lyrics, and it’s this system of annotation that the founders of the website hope will take over the web (including legal research). The website was recently funded by venture capitalists, and the resulting hype has ping-ponged across the web at a pace so rapid that you’d be excused if you made like Steinski and wondered, “What does it all mean?” (affiliate link).
The interviews that have fed the myriad profiles of the site’s founders have been nothing short of entertaining. Just last week, Gawker was prompted to write a guide to the site, rapgenius.com, which managed to sound both condescending and wildly equivocating and which did nothing but illuminate the author’s squeamishness. This promises to not be like that. I don’t know if Rap Genius is going to be Wikipedia or Pets.com.
What I do know is that a Biglaw dropout just ganked $15 million from Marc Andreessen and wants to edge out Westlaw and Lexis (good luck with that).
Keep reading to find out where he went to law school and what firm he worked at. And if you want to see his shirtless YouTube diss track (no homo)….
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: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!