Out west, we’re in the middle of a gold rush. Programmers, marketers, and young business school grads are flocking to the Bay Area all with big dreams of striking start-up gold.
If you wander down Market Street, you’ll hear people mumbling a mantra: “Internet business. Internet business. Internet business.” Or perhaps, “Please let Google buy me. Please let Google buy me.”
Lawyers don’t usually play too much into this equation, except for the unfortunate in-house counsel tasked with explaining to a start-up’s management why playing beer pong in the conference room during work hours may be an unwise decision.
Or are attorneys much more relevant here than the layman might realize? Yesterday, the New York Times profiled a storied Biglaw firm that’s playing quite a part in the current techbubble boom. It’s not this firm’s first time at the rodeo, but other firms smell dollars in the air, too, and there’s a battle brewing over who will represent the next Google, Facebook, what have you.
So let’s stick with the theme. Today let’s take a look at the richest lawyers — or, to be more precise, the richest law school graduates — in America. (As we noted last year, many of these moguls never practiced law, or practiced only briefly, before making their fortunes in business.)
Our friends over at Forbes just released the Forbes 400, their annual ranking of the 400 wealthiest Americans. As in years past, the list contains a number of lawyers and law-degree holders. How many?
* Groupon: now ethical for advertising legal services in New York thanks to this recent opinion from the New York Bar Association Committee on Ethics. Will Biglaw start catering to deal hunters? Prediction: hell no. [WSJ Law Blog]
* Get off my lawn, you damn kids! A lawyer from Long Island was arrested after firing a warning shot into the air and holding a neighborhood teen at gunpoint following several rounds of “ding dong ditch.” [CBS New York]
It’s easy to forget that lawyering is a business that requires a significant amount of advertising. Lawyers offer a service, and as many unemployed attorneys know, the profession includes lots of people doing essentially the same work. You have to find your customers to make it rain.
For more and more attorneys, blogging has become one part of an overall marketing strategy. Is law blogging always advertising? The Virginia State Bar seems to think so. Last month, it disciplined a small-firm attorney for not providing adequate advertising disclaimers on his blog.
But they are pikers compared to members of the Forbes 400, the annual list of the 400 richest Americans prepared by Forbes magazine. The 2011 list has been issued — and it contains a number of lawyers and law school graduates….
* What kind of “reasonable accommodations” are alcoholics entitled to in the workplace? A three-martini mojito lunch sounds good to me. [Overlawyered]
* Some thoughts from Henry Blodget on Groupon and the SEC-mandated “quiet period.” Any thoughts, readers, on Blodget’s take on attorney/client privilege? [Business Insider]
* Professor Ann Althouse on the exoneration of Justice David Prosser (noted in Morning Docket): “A justice is despised because his decisions do not please liberals, and so, without thought, they forgot about things liberals like to love themselves for caring about, such as fairness and due process.” [Althouse]
Is it wrong to find Justin Bieber totally hot? Just askin'....
* E-discovery is moving to the cloud. What are the opportunities and the risks? Ben Kerschberg and Bret Laughlin discuss. [Forbes]
* Two and a half men no more: now that Charlie Sheen’s kids have been taken away, it looks like he’s down to just half a man. That’s okay, though, because he’s got tiger blood. [Washington Post]
* At this point, you’d think that the feds would let you do just about anything to grow the economy. Not so, though, when the thing you want to grow it with is pot. [New York Times]
* What’s the easiest way to get the FBI to install a secret tracking device in your car? By being a Muslim, apparently. [CNN Justice]
* If you’re a judge presiding over a case where a MLB team is the defendant, you probably shouldn’t wear the team’s gear outside court – and if you do, don’t get caught, because that’s not kosher. [New York Daily News]
* Groupon should be sued for their obnoxious commercials, but they’re actually being sued for selling “gift certificates.” Oops, someone should tell the plaintiff that Groupon sells “vouchers.” [NBC Chicago]
* Guys, next time you feel the urge to photoshop a little girl’s face onto the body of a naked woman, just don’t. It’s not sexy for normal people, and it’s not a form of free speech. [New York Law Journal]
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: