* A source says the casualties at Kasowitz were a matter of “managing the pipeline” after work involving the credit crisis dried up. Don’t worry, he says the firm’s still really busy. Aww, someone will believe you. [New York Law Journal]
* Sorry, folks, but if you want to work in Biglaw, taking classes during law school like “Law and Unicorns” isn’t going to cut it. Try to stick to the boring stuff, and you probably won’t get dinged as often. [Volokh Conspiracy / Washington Post]
* Oregon’s AG is refusing to defend the state’s ban on same-sex marriage because it “cannot withstand a federal constitutional challenge under any standard of review.” That’s just fabulous, darling. [Bloomberg]
* Career alternatives for attorneys: Olympic gold medalist. Jennifer Jones, in-house counsel at National Bank Financial, helped Canada’s curling team take the win this week in Sochi. You go, girl! [The Star]
* Say hi to this century’s Stella Liebeck. A woman is suing Dunkin’ Donuts after suffering second and third degree burns to her crotchal region after spilling her hot apple cider. [New Jersey Law Journal (reg. req.)]
Ed. note: Please welcome Christina Gagnier, who will be covering small law firm practice. You can read her full bio at the end of this post.
When you are starting out, or even eight years in to running your own firm, you want clients. You need people coming through the door, physically or virtually, who are willing to pay for your legal services.
As much as you want to take all of the clients that you can get, you have to look out for the red flags — those potential clients who are going to be more trouble than they are worth or may lead you down a rabbit hole. Two stories highlight different types of potential client red flags…
In last week’s column, I discussed the importance of external communication during the mediation process in securing a favorable result for a client. Many of the people who wrote to me as a result of last week’s column agreed with my general premise that mediation is an important skill for the contemporary litigator, and that mediation’s importance will only continue to grow.
A primary driver of that growth will be the continued desire of clients to reduce litigation costs. More and more, clients are recognizing the value of mediation as a means of resolving disputes early and with certainty. Accordingly, those same clients are looking to their outside counsel to guide them through the mediation process, and it is safe to assume that how outside counsel fares at that task could be a crucial factor in terms of a client’s willingness to send that lawyer more business….
I worked at law firms for 25 years. I observed many things and heard many others.
Now I work in-house, and I have to select counsel to represent me.
If I saw you in action (or heard about your reputation) back then, will I hire you now?
It’s obvious how you could have impressed me: You could have put the client’s interests first, and you could have been breathtakingly good when analyzing issues, negotiating settlements, preparing briefs, or appearing in court.
But what could I have seen or heard that forever removed you from my subconscious “approved” list? What are the deadly sins?
I am. (Hey, no one forces you to read this stuff.)
But to what end do I mix apples and wheelbarrows?
I live on the Elysian plain of in-house life: Freed of the demands of generating business; able to foist tedium off on the sad sacks who work at law firms; thinking strategically about the most significant issues facing the company; permitted (indeed, required) to work closely with a business. “‘Tis a consummation devoutly to be wished.”
But there are occasional drawbacks to working in-house, and I try to share those with the world when I notice them. Three recently came to my attention. . . .
Ascension to Biglaw partnership demands, obviously and above all, an enormous amount of first-rate legal work, in addition to political savvy, endurance, timing, and luck. A would-be partner’s chosen practice area also undoubtedly plays no small role. If firm leadership believes that there will be a spate of major Chapter 11 filings or trademark litigations on the horizon, obviously that will redound to the benefit of the potential bankruptcy or IP partners (although, as recent news reflects, partnership isn’t necessarily the lucrative, secure lifetime position it once was).
Late last year, ATL took a close look at the newly minted partner classes for the Vault 10 firms. Despite the great profitability and prestige of this select group, it is difficult to draw conclusions about the general direction of the legal market from the composition of these partnership classes. First of all, this is a small sample size. Second, we are witnessing an important shift in the allocation of the business within the market. A recent AdvanceLaw survey of general counsel at major global corporations found that three-quarters of general counsel were inclined to engage “less-pedigreed” firms (e.g., outside the Vault 10 or Magic Circle) for “high stakes” legal work. This survey of GCs (including those from Google, Nike, 3M, Unilever and Deutsche Bank) indicated their willingness to engage firms lower down the Biglaw totem pole.
Because of the apparent diminishment of the brand value of the most historically prestigious firms, as well as the broader trends toward disaggregation and unbundling of legal services, one must account for a larger set of law firms in order to see the fullest picture of the market for high-end legal services. With that in mind, today we look at the practice areas of the entire Biglaw partnership class of 2013….
Although Am Law and ATL covered the story first, the long spread in The New York Times alerted the whole world to the woes of Gregory Owens, a former Dewey partner who’s now a bankrupt non-equity partner at White & Case.
The legal blogosphere naturally lit up over this story, with Scott Greenfield dispensing his usual simple justice and the Volokh Conspirators (and their many commenters) debating Owens’ personal and professional worth.
But my emailbox filled up, too, with assorted reactions from people at all levels in the law. The most interesting rant — and the one I’m sharing with you today — came from a person who looks a lot like Owens; he or she is a non-equity partner at a Vault 50 firm who’s in his or her 50s. This person disagrees violently with the conventional wisdom about non-equity partners. My correspondent sings their praises and insists that both law firms and many law firm consultants terribly misjudge the value that non-equity partners provide to their firms. . . .
Everyone has an opinion about a trip to Disney World. Some people relish immersing themselves in the experience, while others bemoan the long lines, incessant invitations to spend money, and roaming packs of at-turns hyperactive and hysterical children.
Personally, I fall somewhere in the middle, if leaning a bit to being a Disney-phile as opposed to a Disney-phobe. Having just spent a week there with my family, I can attest to the importance of having realistic expectations regarding the trip — such as recognizing that it will not be a relaxing “vacation,” in the traditional sense. Whether physically or emotionally, anything more than a day visit can be quite draining. At the same time, it is also a lot of fun, and can be quite educational for the kids as well. And there is a lot we can learn as lawyers from the way that Disney goes about its business….
* Morrison & Foerster just snagged a major government player for its global anti-corruption practice. Congrats to the firm on adding Charles Duross, formerly of the DOJ’s FCPA program, as a partner. [Washington Post]
* General counsel are keeping more and more work in-house, “presumably in order to minimize outside counsel spend.” In the alternative, it could be because the lawyers from the firms are too arrogant. [Corporate Counsel]
* If you dare to reject the Facebook friend request of the judge who’s presiding over your divorce case, then you can count on some retaliation in court. You can also count on the judge getting removed. [WSJ Law Blog]
* If you postponed applying to law school, please think long and hard about why you stopped applying the first time. Only take this advice if anything’s actually changed — like your grades, your LSAT score, or the job market. [Law Admissions Lowdown / U.S. News & World Report]
* “This is a case to restore faith in the old-fashioned idea that divorce is something that lasts forever.” Steven A. Cohen is getting off when it comes to his ex-wife’s RICO claims, but not much else. [Reuters]
I’ve just celebrated my fourth anniversary working in-house, and I’m now officially out of touch with law firm life.
I thought I knew all the law-firm-partnership tricks. For example, when law students ask at interviews what percentage of firm partners hold equity status, some firms answer: “At this firm, all partners are partners.” That’s true, of course, but tautological; it says nothing about the equity and non-equity ranks.
On the other hand, this non-responsive answer serves a useful purpose. It may help to convince law students (or lateral associates) that they have a real chance at making partner at the firm, even though the equity partnership ranks are tiny and getting thinner every day.
But I recently learned about a new game that law firms play. This one is aimed not at deceiving law students or lateral associates, but rather the granddaddy of law firm rankings: The American Lawyer’s profits per partner calculation.
I thought I knew all the ways law firms could try to mislead The American Lawyer. There’s the possibility of outright lying, of course, and then there’s using funky methodologies that inflate profits per partner from $1 million to $1.8 million for the year 2011. But there’s a new game in town. It may well be widespread, but I heard about it only recently….
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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!