This means that if I picked my outside counsel randomly, I’d be disappointed 19 times out of 20. I don’t like those odds, so I don’t pick outside counsel randomly.
And if I picked my outside counsel based on which outside lawyers told me that they personally think they’re great, I’d still be disappointed 19 times out of 20. I still don’t like those odds.
I don’t know if other inside counsel view things the same way I do. But, if they do, it makes business development awfully tricky. If there’s nothing you can say or do to cause me to hire you, what forms of business development might work?
Last week, I was having a business lunch at Michael Chiarello’s Coqueta overlooking the San Francisco Bay. (Those who know me won’t be surprised that I managed to combine a business meeting with some good eats. I’ll save my restaurant review for another time, or you can read it on OpenTable.)
Anyway, my lunch was with a partner at Leason Ellis, a thriving IP boutique in New York. The firm is a boutique in that the lawyers are specialists in intellectual property; as far as I know, that is their only practice area. But within that subject matter, they have both a litigation and transactional practice. Conversely, with limited exceptions, my own firm has remained a litigation-only boutique since it was founded four years ago. We handle a wide range of subject matters, but only do litigation within those subjects.
What are the pros and cons of running a litigation-only shop? Why haven’t we added a robust transactional practice as well?
Ed. note: This is the final column by Anonymous Partner based on his interview of a more-senior partner, “Old School Partner” (“OSP”). You can read the first column here and the second column here.
We had been talking for a while, when the conversation turned to Old School Partner’s experiences as a general counsel. He pulled no punches. “I was a very sophisticated consumer of legal services,” Old School Partner told me. In short, Old School Partner, when he turned to outside counsel, had high standards.
Having already decided to leave the security of a leadership position at a Biglaw firm for in-house life, Old School Partner demanded the same attention to detail and professionalism from his chosen outside counsel as he displayed when doing work for his former clients. As an example, he shared how he went about choosing litigation counsel.
“I was looking for counselors,” he told me, and that meant no fluffy credentials without real experience backing them up. “I wanted trial lawyers with real trial experience, who could have the confidence to forego a deposition that was not going to be of any value at trial.” Unlike many clients today, Old School Partner was willing to pay top dollar for real guidance, and did not default to assigning his cases to the lowest bidder or a firm that had a “preferred relationship” with his company. I got the sense that he viewed each case his company was engaged in as a business problem that needed solving, and was willing to pay handsomely for a solution — because he realized that throwing money at a litigation “team” was ultimately less effective and more costly than buying top-drawer help….
In 1997, Congress was about to pass a law that would have been great for America, but horrific for business at the law firm at which I then worked. The firm thus (intelligently) created several committees to try to create new practices that could keep lawyers busy if the promised bill became law. I was asked to chair the “drug and device product liability business development committee.”
At the time, my firm did essentially no pharmaceutical product liability work. I’d helped to defend a set of medical device cases, which was about as close as anyone had come to actual experience in the pharmaceutical products field, so I was the natural choice to lead this effort. When given that assignment, what do you do? How do you build a practice essentially from scratch?
At every conference, and in many articles, people pose the question: “As a client, do you hire law firms, or do you hire lawyers?” The clients dutifully respond that they hire lawyers, not firms. Hasn’t this become sufficiently obvious that we can stop asking the question?
Why does any rational client hire lawyers and not law firms?
Because law firms are an aggregation of lawyers. Once a firm grows beyond a relatively small size, the quality of lawyers will vary. As a client, what matters is the quality of the lawyer working on your matter, not the quality of people not working on your matter, or the identity of the firm. (An exception may exist when a timid client is protecting itself against the possibility of a bad result: “We hired the biggest, baddest law firm available to handle this matter for us. Now that things have gone poorly, you can’t blame me, because I hired the best and sunk a lot of money into the matter.” But that reasoning is foolishness, and I hope this doesn’t happen often.)
The truth is that law firms themselves are uncertain about the quality of their own lawyers. Why?
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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