If you work as a corporate lawyer at a law firm, you aren’t usually making distinctions between legal issues and business issues. There are just issues. You spot all of the potential ones that you can come up with (hoping to God that those are most of the ones out there), share them with your client, and your client decides how to proceed from there.
If you work as corporate lawyer at a company, you need to keep these two types of issues straight for a couple of reasons. First, the type of issue you’re dealing with will determine how much authority you have on the matter. Your authority on a legal issue? A respectable amount. Your authority on a business issue? Diddly squat. If even that much.
Second, it’s important that you know the difference because, a lot of the time, your business people won’t have a clue. Especially some of the more junior-level people. And it’s your pleasant duty to inform them…
Holiday season is in full blast now, so what better time to discuss traditional end-of-year topics like performance reviews, gifting at the office, and what it’s like to advise business clients. Okay, so maybe that last one’s not quite the merrily common topic at around this time. But I’m already getting weary of all this have a happy holiday however it is you celebrate, and here are also some brand-spanking new year wishes thing, so bah. This is what we’re talking about today.
How companies expect their lawyers to advise them differs among companies. If you’re lucky, you work among people who appreciate and value lawyers for both their legal advice and their business sensibilities. (And if you’re really lucky, among people who are strangely okay with you blogging on an occasionally gossipy legal news site.) Business people who listen to your legal and business advice may respect that you work across several business units and get to see stuff that the individual groups don’t. Or they may just blindly trust you. That works too (for you).
At other companies, business people just want the in-house lawyer to stay focused on talking about legal issues and only legal issues, and don’t want to hear about any of the non-legal perspectives the lawyer may have to offer. And of course, there are other business people who don’t even really care for listening to any of the legal stuff (this may pose a bit of a problem if lawsuits or jail are some of the things they are interested in avoiding).
To be fair, the level of appreciation that business people have for their counsel’s advice, whether legal or non-legal, depends a lot on the individual lawyer’s capabilities….
Business relationships are kind of like marriages. In the beginning, everyone’s excited, and life is fresh and full of promise. “Things are really going to change around here,” you think. You know that you’re going to need to make some adjustments, some compromises, but it’s all going to be worth it. You ignore small warning signs, such as the fact that your partner sometimes seems to spend a lot on discretionary items. (But at least he only bought nine pairs of Prada shoes during the trip to Italy instead of the 23 he really wanted.)
Then, as you settle into a routine, you may find that, well… things aren’t exactly as you had expected. There are minor annoyances — things that make working together take more time, communication, and effort than you had thought.
And unfortunately, like some marriages, one or more parties figure out that the benefits of the relationship don’t outweigh the negatives, and decide to part ways. You decide that 18,000 pairs of designer shoes is definitely an indication of a problem. Sometimes, the decision to separate is fairly mutual. Other times, one partner is desperately clawing out from under a pile of fancy footwear that the other only continues to build up.
Also like many marriages, at the start of the business relationship, nobody wants to think about how it will end. Ninety-nine percent of engaged couples won’t touch a prenuptial agreement with a ten-foot pole because they absolutely KNOW that they’re truly in love, and no way are they in the group of the more than 50% of married couples who will part before death.
Similarly, nobody likes to think about the business “prenup” (i.e., the termination/transition provisions in a contract) for more than a few microseconds. For example, there’s the uber-lazy version of a catchall survival provision that makes it into some contracts. It basically says as follows: “Everything in this agreement that’s intended to survive termination will survive”….
In Feeling the Kumbaya (Part I), we looked at how different the perspectives of business clients and in-house lawyers can be. Below are a few techniques that have helped me and my clients to feel the Kumbaya for each other (or at least have helped them to not think I’m only a total loser who has nothing better to do than change all of the commas in a list after a colon to semicolons).
Prioritize. I used to suspect that there was something about going in-house that made perfectly good law firm attorneys develop permanent amnesia when it came to good drafting. It was the strangest thing. Even my husband, a supposedly respectable corporate law firm attorney, after going in-house, suddenly started to let minor errors appear in his emails. My judgment of him was quick and deliberate. He would sometimes mistakenly use “there” instead of “their,” for God’s sakes! What lawyer does that?
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, 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.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…