The business of law continues to evolve post-Great Recession. Law firms are dealing with clients who are trimming legal budgets, shunning expensive hourly billing rates and subsidized training of associates, and opting for smaller and more cost-sensitive legal options.
These trends have had a ripple effect. The job market for lawyers—while showing signs of improvement in small pockets—remains depressed, resulting in intense critiques of legal education, downward-trending law school applications, and law schools adapting or closing. Presumably, law students and new lawyers notice these trends and are strategizing accordingly, thinking commercially and entrepreneurially about their careers, and seeking the best legal experience and ROI in a rough macro legal market.
Entrepreneurs recognize these trends and a few startups—UpCounsel, Lawdingo, Priori Legal, and LawTrades—are riding a robust tech (and derivative branding) wave to disrupt the increasingly vulnerable legal industry. Each (i) strives to provide a frictionless and transparent platform for cost-conscious clients to quickly acquire legal services, and (ii) offers lawyers an alternative avenue to monetize their degrees free of typical infrastructural and administrative burdens of solo or small practice. This new crop of startups has earned the label “the Uber of law.” What is their value proposition for lawyers? Are they truly Uber-like providers of legal services, or is that just opportunistic branding? Should lawyers care?
* Were you looking for a treasure trove of high school pictures of SCOTUS justices? Well, you’re in luck! [Josh Blackman's Blog]
* Remember when Gov. Bob McDonnell was a rising GOP star? Well, this recap of his federal indictment makes that seem like a distant memory. [TPM Muckraker]
* Here’s a career alternative for you: Space Tyrant. When GW Law grad Alex Gianturco bailed on his gig at Zuckerman Spaeder, he took the usual route of just playing video games all day. With the twist that he actually made money at it. As the most powerful player in EVE Online, The Mittani, as he’s now known, has managed to enrage pretty much everybody out there playing a game basically designed to reward dickish behavior. [Wall Street Journal (sub. req.)]
* A pharmacist lands in hot water after trying to connect with a patient. In his defense, being a pharmacist seems like a pretty fool-proof plan to ensure that a potential date has a clean bill of health. [IT-Lex]
* It’s a mixed bag in Ecclestone family litigation news. Tamara Ecclestone lost her dispute with an ex-boyfriend over a Lamborghini Aventador. She’d given the car to her ex-boyfriend and wanted it back, but the High Court deemed the car was a gift. On the other hand, dad Bernie convinced the New York Supreme Court to kick out a £392.5 million lawsuit over an alleged bribe, so on balance it was a decent week for the billionaire family. Now if he could just fix this stupid “double points” thing. [Daily Mail]
* Lawdingo and Themis’s Clio platform have partnered up. Hopefully Lawdingo won’t shy away from light-hearted commercials now that they’ve hit the big time. [Go Clio]
* Kentucky is looking to authorize service monkeys. What can possibly go wrong? [My Fox DC]
* “I Love Boobies” case may go to the Supreme Court. [Jezebel]
* Law firms are warning clients to beware of “Misclassification Creep” which is a “threat” to many businesses. Yeah, it’s a real shame that employees might start getting paid what they actually earn. [Corporate Counsel]
* Recurring ATL subject, Caskers craft spirits retailer, has been sold to Anderson Press. [Pandodaily]
* Meanwhile, another legally related business has raised a total of $850,000. Hopefully they can use some of that to make another hilarious commercial. [Techcrunch]
* Here are 10 things every new lawyer should do right now. Shorter version: start puckering up. [The Careerist]
* In horrible news, a missing Wayne State law student was found dead. [Detroit Free Press]
* A former Biglaw, current Midlaw associate has written a book and created this trailer to promote it. What if a sex toy manufacturer became a patent troll? Video embed after the jump…
If you’re going to launch a business with a video, you might as well be funny.
That’s what the good folks at Lawdingo have done with a brilliant, tongue-in-cheek look at legal advice.
If you’ve not heard about Lawdingo, you’re missing out. One reputable source declared it “the way of the future,” and we’re not about to argue with ourselves. Lawdingo lets a prospective client connect with an attorney and get an immediate legal consultation online with an eye toward building an ongoing attorney-client relationship.
It sounds a little dry, but they had fun with it in this ad.
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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!