These are challenging times for the nation’s 200k+ law firms. Just look at the pace of mergers. Combination announcements appear almost weekly.
In fact, 2013 was a record year for law firm mergers. And, based on the first nine months of this year, 2014 will end with a similar number of transactions. Although the mega-mergers grab the headlines, a big number of transactions are between smaller firms or smaller firms being scooped up by larger concerns seeking to gain a foothold in new markets.
Last month, The American Lawyer reported on this record merger pace citing deals closed in the hot southwest legal market. Two notables:
Fox Rothschild’s combination with David & Goodman in Dallas
In both mergers, Roger Hayse and Andy Jillson of Hayse LLC advised Hays McConn and David & Goodman in their respective transactions and helped shepherd those two firms through to successful deals. Why are Roger and Andy front and center in this robust merger market? For one, they have walked in your shoes. Here are two guys who led and helped build a strong regional firm that included the strategy of merger. So, how should small to medium-sized firms approach a merger strategy? What are the “rules of the road” for achieving a successful merger? What are the best ways to manage the inherent risks?
Top ten firms with the most Corp. Counsel mentions.
No one should be surprised that Fortune 500 companies hire some of the biggest names in law for legal services.
Corporate Counsel’s annual report lists the top ten law firms hired by the Fortune 500. As David Lat points out in Who Represents America’s Biggest Companies? (2014), “the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one.”
The answer? Workplace law.
I asked Brian Rice, LexBlog’s CFO/COO, for his thoughts on the Corporate Counsel report. Warning: Brian is a big-time data junkie. His take:
“Because of the hugely influential role that the Fortune 500 companies play in the business world, studying their adoption and use of social media blogs offers important insights into the future of commerce. These corporations provide a look at emergent social media trends among America’s most successful companies.”
Every election season there is the same refrain from candidates who are attacked in political ads run on broadcast stations – that ad is unfair and the broadcaster who is running it should take it off the air. Sometime, that request is sent by a lawyer with threats to bring legal actions if the broadcaster does not stop airing the ad. What is a broadcaster to do when it gets one of these requests to pull a political ad from the air? While we have written about this issue many times before (see, for instance, our refreshers on the rules with respect to candidate ads, here, and non-candidate, third-party attack ads, here), questions still come up all the time. Thus, broadcasters need to know the rules so that they don’t pull an ad that they are not allowed to censor under the FCC’s rules, and that they don’t run one for which they could in fact have liability.
Mr Hegglin (the ‘Claimant’), a businessman who lived in London but now resides in Hong Kong, sought to have removed a number of abusive and defamatory allegations about him that had been posted on various websites by unknown persons. Google was a defendant in the case as portions of the offensive material appeared in search results, and because Mr Hegglin requested the court to order that the identities of the anonymous posters be disclosed to him.
In this age social media justice, sooner or later you’re going to have an encounter with a negative online review, whether your a business owner, or simply a consumer. It seems like it’s becoming an accepted aspect of our lives. Increasingly, however, consumer reviews posted on various Internet sites are becoming the subject of litigation.
If you’re not online, then you’re losing traction (and clients) to the professionals cultivating a strong online presence through the act of blogging. The Internet is a communication ecosystem that amplifies the effect of lucrative referrals with “word-of-mouse spread[ing] even faster than word-of-mouth,” according to a Harvard Business School study, The Economics of E-Loyalty.
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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.