Boutique Law Firms

Whether you practice in Biglaw or a boutique, knowing how to email is a critical skill. In fact, the quality of a lawyer’s emails are among the best indicators of their future career prospects, excepting those fortunate to be born with a guaranteed multimillion-dollar book of business through family connections. That should not be a surprise, considering how email is the single most used form of communication for lawyers. Yes, technology has liberated us from a full day’s work (with the help of a secretary) in order to prepare what would now be considered a routine client communication in the form of a fancy letter. But the need for a similar level of care in preparing today’s written communications has not changed. Show me an associate’s emails, and I (along with other former or current Biglaw partners) will have a very respectable success rate in guessing whether or not they are partnership material, even in the absence of other information about the author.

I have sent many thousands of emails in my legal career. I do not even know how many of them would even have been considered “good” emails. I’d like to think that most of them were. I was fortunate, since I worked for a partner who stressed to me early on the importance of sending “good” emails.

What is a “good” email?

double red triangle arrows Continue reading “Beyond Biglaw: 4 Tips For Writing Good Emails”

Juan Monteverde and Alexandra Marchuk

Marchuk v. Faruqi & Faruqi, the high-profile sexual harassment lawsuit filed by Alexandra Marchuk against her former firm and one of its most prominent partners, Juan Monteverde, rolls on. Back in January, we covered some of the salacious revelations contained in the summary judgment papers.

You know what would be even more juicy? A trial.

And that’s what we might be getting, in the wake of two blows just dealt to the defendants in this matter….

double red triangle arrows Continue reading “Alexandra Marchuk v. Faruqi & Faruqi: Bad News For The Defendants”

Rengan Rajaratnam and Dan Gitner

It’s bad luck to get a haircut during trial.

Daniel Gitner of Lankler Siffert & Wohl, commenting on one of the personal grooming superstitions he forces those staffing cases with him to adopt. Gitner recently broke U.S. Attorney Preet Bharara’s winning streak in the successful prosecution of insider trading cases when his client, Rengan Rajaratnam, was acquitted. Gitner cut his hair after the trial concluded.

If you need it, build it. We needed help. And we saw an opportunity. So we took action, and now have another business as a result. I’ll explain. The need was simple. Because of our work with investors interested in understanding how patent litigation events impact on their investments, we found ourselves needing to monitor many active patent cases, in addition to the cases we were litigating ourselves. At one point, we considered hiring an intern to help with this specific task, at least during the trading day. But we quickly realized that solving this problem required a software-based solution. So we set out to build one. We looked for something available that would do the job, and failed to find anything useful.

Thanks in no small measure to the talent of our programmer, what we built worked. We were able to get automated alerts of new docket entries and opinions directly to our email. And we could do so for multiple cases, alleviating the concern that we would miss an important opinion. Because our clients tend to have sizable investments, there is a premium placed on our ability to let them know of litigation events quickly and to interpret those events for them, so that they could protect their positions or initiate new ones, based on the recently released publicly available information. As a fail-safe, we began having the alerts sent directly to subscribers of our consulting services. And now we have decided to offer it publicly (www.litigationalpha.com) to fellow lawyers, retail investors, and whoever else can benefit from automated alerts generated based off District Courts docket entries and opinions….

double red triangle arrows Continue reading “Beyond Biglaw: When You Need It, Build It”

Germany has won the World Cup. The final game was a low-scoring 1-0, but nonetheless a thrilling hair-puller of missed opportunities on both sides. The single goal, in minute 113, was an elegant, technically perfect two-touch volley — all the more impressive because it was delivered by a 22-year-old substitute who did not join the game until the second half.

The game was also a contrast of different playing styles. Argentina built its offence around a star striker, Lionel Messi, who was expected to execute a well-timed stroke of veritable futbol magic that would hopefully usher his country to its third World Cup victory. Backing him was a deep-sitting defense that repeatedly stifled German goal-scoring attempts, but was nevertheless not expected to score absent some Messi magic. By contrast, Germany lacked a superstar of the world-renown of Messi. Instead, its playing style prioritized short, deft, technical passing among the team as a whole. The victorious Germans carefully worked the ball through various mid-field channels until, eventually, it reached the back of the opponent’s net.

I am not an avid soccer fan, but like many Americans, I tune into the World Cup every four years. Who was I rooting for?

double red triangle arrows Continue reading “Beyond Biglaw: Tiki-Taka Teamwork”

The average high temperature for Houston in July is a scorching 94 degrees. It’s one hot legal market.

Figuratively as well as literally. Back in April, for example, we talked about Kirkland & Ellis opening a Houston office — and prying away partners with $5 million pay packages. You don’t need to be a high-powered partner to get in on the fun; even junior to midlevel associates are getting offered signing bonuses when they lateral.

And this hot market is only getting hotter. Who’s the latest major law firm to land in Space City?

double red triangle arrows Continue reading “Musical Chairs: Another Entrant Into The Houston Market”

Patent litigators travel frequently. I addressed the topic back in early March. Travel can be tiring, or fun, or a combination of the two. And travel episodes are sometimes good for a laugh afterwards. Sometimes, you can even learn a business lesson or two from a travel experience. On a recent trip, I was reminded that trying to save some money can be costly in other ways. And while it is nice to be running a firm that is a cheaper alternative to Biglaw, there is no excuse for letting that price differential compromise the quality of our services. We don’t, and never will, but reminders of that principle do not hurt either.

A few months ago, Zach and I needed to make a trip to meet with a client and separately deal with an issue in one of our cases. When I was in Biglaw, both of the firms I worked for had in-house travel agents, and because of the nature of my practice, I got to know the actual agents pretty well. If I had a business trip, all it took was an email or phone call, and everything would be arranged based on my travel profile and preferences. The occasional “can you get me an earlier flight” or “flight cancelled, get me home” situation was often handled seamlessly as well. And while I was never in the “client is paying for it, so it’s first class for me” camp, I also never hesitated while at Biglaw to incur additional travel cost when there was a compelling business reason for it.

So if it cost a bit more to take a flight at a certain time of day, so be it — especially if flying at those times would make me more productive, i.e., capable of generating billable hours. Or if an upgrade that would allow me to get some much-needed rest was available for a moderate cost, I would take it. But I could not stomach employing some well-worn Biglaw travel tricks, such as always booking refundable full-fare tickets in coach to pretty much guarantee an upgrade. As the years went by, of course, increased client focus on expenses cut out some of the marginally abusive practices. It is hard to worry about securing an upgrade — when you are trying to get the client to pay for the trip in the first place.

Things are different now that I have my own boutique firm….

double red triangle arrows Continue reading “Beyond Biglaw: Expensive Savings”

On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”

Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.

But we wonder if there’s more to this story than meets the eye….

double red triangle arrows Continue reading “A Wachtell Lipton Partner’s Mysterious Departure”

Biglaw associates are used to the “black hole” effect when it comes to their assignments. Sure the work is important and valuable, but because of the disconnect between a typical Biglaw attorney and an actual client, it can feel like any given assignment is destined for a “black hole,” rather than serving as a building block for solving a client’s problem. The further removed the lawyer is from the client, the more pronounced the effect. It can be a morale drainer, especially if it looks like the lawyer will never get the chance to work directly with a client on a matter of significance.

Working at a boutique or smaller firm, where there is more direct client contact by necessity, presents a different challenge to a lawyer’s motivation than the “black hole” effect. Because at a smaller firm, or even for partners in Biglaw firm lucky enough to make the adjustment from service partner to a true “counselor,” the lawyer in close contact with a client must confront the inherent limits in the attorney-client relationship. Yes, it can be much more rewarding to have a practice where you feel like you are partnering with your client to get things done. But it becomes all the more frustrating when you give advice, even good advice, that goes unheeded by that same client….

double red triangle arrows Continue reading “Beyond Biglaw: The Limits Of Lawyers”

* “They aren’t required to hear it, but this is the major social issue of the day.” The Supreme Court will likely hear a gay marriage case soon, and it’ll obviously be a vehement 5-4 opinion. [NBC News]

* But is SCOTUS really so bitterly divided now? Here’s a fun fact: The justices agreed unanimously in 66 percent of this term’s cases, and the last time that happened was in 1940. [New York Times]

* A partner has left the luxuries of earning up to $4.8 million per year at Wachtell Lipton to start his own executive compensation boutique, which we understand is basically like seeing a unicorn. [Am Law Daily]

* The post-merger world at Squire Patton Boggs is similar to the pre-merger world in that partners are still being churned in and out of the firm every other day. Check out the latest ins and outs. [WSJ Law Blog]

* The Fourth of July is coming up, and you know you want to light up some fireworks. Sure, it’s illegal to sell them in your state, but here’s where you can travel to go to buy some to celebrate freedom. [Yahoo!]

Page 1 of 2912345...29