Ed. note: This is the latest installment of The ATL Interrogatories, brought to you by Lateral Link. This recurring feature will give notable law firm partners an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.
Peter J. Devlin, President and Chief Executive Officer of Fish & Richardson, assumed the firm’s top management position in 2000. Under his leadership, Fish has opened several new offices, expanded its burgeoning international practice, bolstered its reputation as a national firm at the pinnacle of the IP and business world, strengthened its financial performance, and positioned itself for further growth. Mr. Devlin’s law practice emphasizes client counseling in the areas of patent infringement and validity opinions, patent due diligence, product clearance, and licensing; and in U.S. and foreign patent prosecution, focusing on medical device technologies, electronics, and software. Before joining Fish, Mr. Devlin worked for Raytheon Company, first as an electrical engineer and then as a patent attorney.
Ed. note: This is the first in a new series, “Across the Desk,” from Bruce MacEwen and Janet Stanton of Adam Smith Esq. and JDMatch. “Across the Desk” will take a thoughtful look at recruiting, career paths, professional development, human capital and related issues. Some of these pieces will have previously appeared, in slightly different form, on AdamSmithEsq.com.
As noted in the American Lawyer recently, the lateral recruiting boom of recent years continues unabated. As the Am Law article points out, “At the same time [as they’re focused on hiring lateral partners], firms appear to be homing in on their poor performers. Nine out of 10 survey respondents said their firm has ‘unprofitable’ partners, and seven out of 10 said their firms have partners at risk of being deequitized or ‘put on performance plans.’ As one survey respondent put it: ‘There are too many partners without sufficient billable work.’”
Now, wouldn’t you think it would make sense — if firms are worried about underperformers — to pay some attention to associates as well as partners? After all, some of those associates should, speaking theoretically at least, be your future partners.
Yet there’s unrebutted evidence that firms look at the wrong criteria when hiring associates….
Last week I discussed the associate bonus process from your typical partner’s perspective. I want to talk a bit more about ways firms can take advantage of the glut of prospective associates out there, while increasing the odds of finding those rare jewels who will make partner — with each associate making less, but getting a better lifestyle (and a shot at a Biglaw career) in the bargain.
Some caveats. First, the ideas below are not intended for the Simpsons — thisSimpson, not those Simpsons — of the world. They will continue to attract the very best, and should continue their current structure. Why? Because the Cravath model that the elite firms instituted makes for great partners and strong law firms. The problem is that almost every Biglaw firm adopted the Cravath model, and not all of them should have. Most firms do not have the institutional client base of the elite firms, and therefore don’t need the tremendous fixed costs and inflexibility with respect to associates that the Cravath model brings. As firms expand, contract, or just struggle to stay afloat post-Biglaw Breakdown, it seems like a great time to try some new approaches to talent structures and compensation. There is nothing wrong with some experimentation, as long as the protocols are transparent, and management is prepared to cut bait quickly if things are not working out.
Now over the years we have seen firms experiment with their junior associate hiring models. Most of these programs involved trying to turn junior associates into some form of quasi-apprentices. None seem to have taken root. And in my mind there is no sense in implementing a drastic, global overhaul of your associate model, before trying some more limited changes on the practice group level.
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.
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: firstname.lastname@example.org.
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.
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