* U.S. Attorney Preet Bharara wants to know more about why Governor Andrew Cuomo shut down an anticorruption commission. [New York Times]
* The ABA weighs in on the “unfinished business” controversy affecting bankrupt law firms, their lawyers, and their clients. [WSJ Law Blog]
* Better late than never: students and professors at UC Davis Law are pushing for the posthumous admission to the California bar of Hong Yeng Chang, who was denied a law license in 1890 solely because of his Chinese heritage. [Associated Press; South China Morning Post]
* Speaking of late, a robber sent to prison 13 years late because of a clerical error just got released. [ABA Journal]
Most days, I’m proud of owning my own small law firm. And while technically, I’m not a solo — I’ve had an assistant for over eight years now as well as a revolving crew of of counsel, part-time associates and independent contractors — many of my colleagues lump me and most very small law firms into that category nonetheless. So when other solos act foolishly or unprofessionally, it reflects poorly on the rest of us.
Understand, I’m not picking on solos. Let’s face it — large law firms are hardly paragons of upstanding conduct; one needn’t look further than the recent Dewey & LeBoeuf scandal as proof. But for whatever reason, when Biglaw behaves badly, that conduct doesn’t diminish the reputation of Biglaw in the eyes of judges and other lawyers as it does for solos.
So that’s why it bugs me when solos do stupid — and often avoidable — things. Here are my top three peeves:
* Two Biglaw firms and their even bigger revenue meltdowns: Patton Boggs and Bingham McCutcheon have posted the most dramatic revenue declines revealed thus far by Am Law. [Wall Street Journal (sub. req.)]
* Dewey know why this malpractice case is being brought against an ex-LeBoeuf Lamb partner? You know your case is screwed if one of the questions the judge asks you is “[W]hy are you here?” [Am Law Daily]
* Those who remain at Heenan Blaikie, the imploding Canadian Biglaw firm, are pretty “pissed off” they haven’t received word on their severance packages. So much for that “orderly wind down,” eh. [Law Times]
* Career alternatives for former Biglaw attorneys now allegedly include breaking and entering and assaulting state delegate’s wives. We’ll probably have more information on this juicy story later today. [NBC29 WVIR]
When I started my law firm twenty years ago, there were just five things that I knew.
I knew I didn’t have any clients. I knew that my husband and I could scarcely afford the loss of my paycheck, let alone come up capital for me to invest in my practice. I knew that I was way too mortified at having been laid off from my former firm to share the real reason for starting my own firm. I knew that when I finally opened for business, in truth, I was just putting on a game face every day, biding my time until something else came along or until I got pregnant and could, like some of my other law school classmates, gracefully exit the law. But I also knew, somewhere deep down, that I had it in me to be a good lawyer.
Those five things are all that I knew for sure when I started my law firm. Clearly I had a lot to learn. And while there was plenty of information on the black-letter, nuts-and-bolts aspects of starting a firm, the kind of advice that I really wanted to know to jump-start my practice — specifically, whether the solo option was actually feasible — was in short supply. Moreover, as an attorney with a traditionally big-firm practice (energy regulatory law and litigation), I was even worse off because attorneys familiar with my field and doing what I hoped to were particularly rare.
So to spare those of you starting out from what I went through, here are five things that I wish someone would have told me when I started out:
Are partners just puppets of their law firms’ clients?
Mr. Armstrong sat at the controls of Morgan Stanley, which employed and paid Blank Rome millions of dollars in fees, thus allowing Blank Rome to be the ultimate ‘puppet master,’ as Blank Rome could control Ms. Armstrong’s divorce litigation in a manner designed to protect Morgan Stanley.
– Jonathan Sack, counsel to Kristina Armstrong, in a malpractice lawsuit that Armstrong just filed against her former divorce lawyers at Blank Rome.
(More about Armstrong’s allegations, after the jump.)
For lawyers considering opening up their own shop, malpractice insurance is one of those areas where you’re probably clueless. So you’ll rely on your friend’s recommendation for a carrier, or you’ll just call a few companies who advertise in the Bar publications and see if you can “get the best deal.”
As usual, I’m here to make your life easier with truthful information that you can actually use. No no, don’t thank me. I feel your appreciation.
For purposes of this post, I interviewed Sam Cohen of Attorneys First. Sam is a Florida-based broker. He is licensed in Georgia and has access to other brokers throughout the United States. Now before you gutter dwellers down there in the comment section start hypothesizing (I think that’s the biggest word I’ve used here) about my relationship with Sam, let me burst your conspiracy bubble.
Sam and I are long-time friends and have never done business together.
Some years ago, I was referred to Sam when my policy was up for renewal. He went out and got quotes from a half dozen companies, compared them to my policy, and determined that what I had was the best. So he made zero dollars, and based on his against-his-financial-interest honesty, I refer everyone to him. (There’s a lesson in there somewhere).
Do you remember those Viagra commercials where they tell you to seek medical attention if you’ve had an erection for more than four hours? That seems like a logical course of action — after all, it’s sometimes possible to have too much of a good thing. But what happens when you’re not taking an erectile dysfunction medication, and you’ve been standing at attention for an entire day or more? What should you do then?
Well, most men would take to WebMD in a heartbeat if they knew that their junk was at stake. Most men would immediately seek medical attention, regardless of a potentially long wait time at the hospital, because most men are fairly attached to their penises.
But not this man — he waited politely and patiently to find out that his penis was ruined….
It’s easy and popular to criticize America’s tendency towards over-litigiousness. You can talk and argue all day over abstract ideas, but have you seen the numbers all laid out in a handy-dandy infographic? No? Well, we have a special treat for you….
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.
It’s the legal profession’s equivalent of a long-term relationship.
When Michelle Waites, Senior Patent Counsel for Xerox Corporation, attended The LGBT Bar’s Lavender Law conference several years ago, she wasn’t sure what to expect. She left having forged a lasting business relationship that still endures today.
It was during The LGBT Bar’s event – an annual gathering of more than 1,600 lesbian, gay, bisexual, transgender and allied legal professionals – that Waites first met Marla Butler, a partner at Robins, Kaplan, Miller & Ciresi LLP, who specializes in patent law.
Today, the two are still close friends as well as professional colleagues. Butler’s firm continues to work with Xerox – a business partnership forged via The LGBT Bar.
On November 19th, The Bar will present its first-ever conference outside the United States. Dubbed “A Lavender Law Experience for Europe,” the day-long Business Legal Conference will replicate programs such as the one that brought Waites and Butler together for legal professionals in Europe.
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: