I guess Lexington, Massachusetts, wasn’t quite desperate enough to offer a big firm a better deal.
Last month we told you that Biglaw firms have encountered success in putting offices in small cities staffed with non-partner track associates and back office personnel.
The trend now continues with Bingham McCutchen’s announcement that they are opening a “Global Services Center” in Lexington, Kentucky. The center will eventually house 250 employees who will handle administrative support functions for the firm. Some current Bingham employees will be given the option of relocating from Boston to Lexington.
Hmm… this reminds me of another person who went from Kentucky to Boston and then back to Kentucky. “Newbury Street isn’t walking through that door, Bingham staffers. Quincy Market isn’t walking through that door, and Fenway Park isn’t walking through that door. And if they did, you’d still be living in Lexington freaking Kentucky.”
Oh, I kid. In all seriousness, though, and from the firm’s perspective, in-sourcing is clearly the way to go…
One lawyer offers to represent you for $1000 an hour. Another lawyer offers to represent you for $400 an hour. Who’s more expensive?
The correct answer is: You don’t know.
You don’t know for three reasons. First, some $1000-an-hour guys are remarkably specialized.
The efficiencies triggered by specialization are obvious: If I need a lawyer to call the local real estate office and cause my form to be moved from the bottom of the pile to the top, there may be only one person in town who can make that call. He charges $1000 an hour; I buy a half hour of his time; I get off cheap. The $400-an-hour guy can assign a troop of $150-an-hour associates to research local real estate procedures until the cows come home, but that firm is not going to be cheap.
Specialization can yield efficiencies for other reasons, too. If I have a question about a particularly obscure subsection of some obscure law, there may be two ways to get an answer: (1) Call the $1000-an-hour lawyer whose entire practice is devoted to subsection VI(B)(2)(a)(iii) of the Obscurity Code, and have him respond in two hours with an answer, or (2) Have the $400-an-hour lawyer try to figure out the answer from scratch. Who do you suppose is cheaper?
But specialization is the easy case. $1000-an-hour guys can be inexpensive for other reasons, too….
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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: email@example.com.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.