Before you make the jump to go in-house, remember that each in-house opportunity is unique and will present different advantages and challenges. As a former in-house attorney who worked for a well-respected investment management company for almost six years, Lateral Link Director Gloria Cannon believes there are several things you should consider in evaluating each in-house opportunity.
They revolve around three primary topics: job responsibilities/duties, compensation, and lifestyle….
In 2009, Professor Martin H. Redish of Northwestern Law School published a book arguing that class actions are in large part unconstitutional: Wholesale Justice: Constitutional Democracy and the Problem of the Class Action Lawsuit (Stanford Univ. Press 2009). Where is the practicing bar?
I understand that nobody reads law review articles or books published by an academic press. And I wouldn’t condemn any practicing lawyer to reading any issue of a law review from cover to cover. But I don’t think it’s asking too much to insist that lawyers remain gently abreast of the academic literature in their field and deploy new ideas aggressively when scholars propose them. Redish’s book shows why in-house counsel should demand more of their outside lawyers.
This post is a two-fer: I’m going both substantive — by summarizing Redish’s argument about why many class actions are unconstitutional — and pragmatic — by criticizing law firms that ignore ideas springing up in the academy that should be used in litigation. (For me, drafting that two-fer is an unusual trick. As regular readers know, it’s typically hard to find even a single thought tucked into one of my columns.)
What does Redish say about class actions, and how have most law firms been derelict?
I’m writing this wearing my new bifocals. They take some getting used to after years of regular glasses and contacts. But, after watching me examine small print like I was Mr. Magoo, my wife convinced me that it was time to take a symbolic plunge toward middle age. I admit to no small amount of trepidation at the prospect of wearing “old folks” glasses. But the risk of not seeing properly finally outweighed my vanity, and a change had to be made.
And so it goes with some legal decisions in-house. When faced with a dilemma, you weigh the risks versus rewards, and pull the trigger on what you hope is the right decision.
In a company the size of mine, people have performed risk/reward analyses on legal issues for years, down to the proper placement of semicolons in contract clauses. To borrow from the iPhone ads, yep, there’s a committee for that. We have Lean Six Sigma belts of all colors who are subject matter experts in every facet of our business. There are folks with many years of experience, who own any number of policies from which I am to draw when making decisions. It sounds on paper like filling in the blanks will get you where you need to go, but that is far from reality.
In a perfect world, for my job anyway, a Customer would receive a proposed agreement, see the inherent fairness in the document (and the work that went into carefully crafting all those clauses and semicolons), and sign on the dotted line. But sadly, life isn’t perfect, and I have yet to receive a contract back without so much as a redline….
* There’s a new chief legal officer at Morgan Stanley: Eric Grossman, a former Davis Polk partner, replaces Frank Barron, a former Cravath partner (who joined Morgan Stanley not that long ago; if you know more about this odd situation, email us). [Bloomberg Businessweek]
* Will anybody be surprised if it turns out that Ron Paul likes to fire people too? [Politico]
* Most people will just ignore the balanced budget amendment as proposed by Chuck Woolery (yes, that Chuck Woolery), but on the off chance that somebody actually says to you, “You know, Chuck Woolery has some really good ideas,” here’s somebody who took the time to smack the Chuckster down. [Recess Appointment]
He gave His only begotten Son, that whoever believes in Him shall not perish, but have eternal life.
It’s playoff time in the National Football League. Fun times. This year’s playoffs are more intense than usual, since Tim Tebow is probably the only conservative who can challenge Obama this fall.
I’m a Tim Tebow convert. Sure, if Tim Tebow were black, he’d be a back-up tight end, but that’s not a reason to hate on Tebow. He wins football games. What more do you want from him? There aren’t a lot of elite quarterbacks in the NFL. Tebow’s not elite, but he wins games. Wouldn’t you rather roll the dice with the Tebow show than going with the practiced mediocrity of Kevin Kolb, or Colt McCoy, or David Garrard? I honestly think that Tebow gets a lot of hate because so many people passed on Tebow to go with guys like that.
Jacksonville did. Tebow is a god in Florida (I mean, Tebow threw for 316 prophetic yards last night, so I do not rule out the possibility that he’s a God everywhere), and he was sitting there in the draft when Jacksonville was starting David Garrard and they passed on him. Now, the Jacksonville Jaguars have a new owner. Coincidence?
In fairness, the Jaguars seem to be a terribly run organization. It appears that even the Jags’ lawyers can’t get it together. The new owner reportedly removed the team’s general counsel for something that looks like an unforgivable error for a lawyer to make….
It’s tough being the managing partner of Bigg & Mediocre. All of the hard issues land on my desk. We’ve hired a new Chief Marketing Officer, and this guy recommends that we launch some firm-branded blogs. Press reports say that 94 percent of the AmLaw 100 plan to use blogs as part of their marketing efforts. I guess I have to make a decision; what should we do?
I’ve never actually visited a legal blog. I’ve certainly never subscribed to a good one (if there is such a thing, which I doubt). Someone once sent me a link to something called “Above the Law,” but that was just a post discussing our year-end bonuses.
To blog or not to blog: What’s a managing partner to do?
It’s one of the biggest cons going around. I cringe whenever I hear it. A lawyer laughs and says, “I’m not good with numbers — that’s why I became a lawyer.”
On the surface, it seems to make sense; it sounds like it should be true. For some, it might even be true. After all, the last time we used quadratic equations was back when loafers on bare feet were considered desirable footwear (thanks Don Johnson).
In-house lawyers should never, ever say they’re bad at math — even those who really are. After all, business people are preoccupied with numbers. As an in-house lawyer, telling a business person that you’re bad at math is like telling them you don’t care about the most important thing that everyone else in your company cares about, and if your company is publicly listed, what every investor in your company cares about — the company’s numbers….
Cops learn to hate people. Basically everyone they encounter is a criminal, so cops soon come to believe that everyone is a criminal.
Litigators — or perhaps litigators who are repeat players in a particular field — learn to hate people. Personal injury insurance defense counsel come to believe that all plaintiffs are lying fakers. Personal injury plaintiffs’ lawyers come to believe that all insurance defense counsel are tightfisted jerks who never pay a claim.
Maybe this is natural. If you spend eight hours every day repeatedly doing the same thing over the course of many years, you become what you do. It’s hard to break out of your role.
But this can cause trouble for in-houselitigators. If you become what you do, consider who in-house litigators learn to hate . . .
2012. How many times will some DJ play “(It’s the) End of the World” by R.E.M over the course of the next year? I’d wager about as many times as I was told ad nauseam (pun intended) that a proper Christmas gift is a Lexus (read: upscale Toyota) over the course of the Christmas break. Anyway, it’s back to work for most of us, as some of you never had a break.
I have written before about the shock of becoming a “lowly” cost center as opposed to a private practice revenue center. Also, unlike private practice, there may be a much smaller chance for advancement in a larger law department. Funny enough, folks tend to stay in jobs where they are comfortable and where they are treated well. I am fortunate to work for a company where I enjoy both, but so do the lawyers in peer groups more senior to mine. One of the selling points of my current position is the longevity of the attorneys here. People tend to come and stay — for a long time.
Thus, that sense of security also comes with layers of more senior attorneys, which makes it difficult to advance in the department. There are opportunities to switch to the business side, but if legal is where you want to be, you must attempt to distinguish yourself from a host of very good attorneys. So, today, I am offering some suggestions on how to make yourself more valuable to the department. In future columns, I will address some ideas to assist your general counsel with bringing some revenue back into the company in order to help offset your costs, and to assist you politically….
Fiscal year end for us is officially this coming Saturday. Until then we’re expected to be on call 24/7. While it might seem draconian, we’re a sales-based technology company, and the push is on for the “Field” to get their year-end orders completed. I readily admit that being “on-call” just four times per year (three quarter ends and one year end), rather than “all year all the time,” is not a bad deal.
When I was in private practice, you were expected to respond top clients ASAP, if not sooner. It didn’t matter where you were or what you were doing, you had to respond. I brought that attitude with me when joining my current employer. This not only took many of my clients by surprise, but by putting myself out there as a go to attorney 24/7, I find that very few clients actually take advantage of that proposal. Truth be told, I am able to “disconnect” on vacation weeks, and I have forewarned anyone tempted to call me at home that if it isn’t a true emergency, I’ll just put my two-year-old on the phone and let them discuss the latest happenings in rugrat world….
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.