* Our thoughts and prayers go out to the people of Oklahoma. [CNN]
* The IRS and the Treasury Department better watch out, because it seems that the “next logical step” for the tea party victims of heightened scrutiny leads right up the courthouse stairs. [ABC News]
* #Whatshouldwecallme after advising on the $1.1 billion Yahoo/Tumblr deal? Kind of a big deal. The Biglaw firms doing the underlying legal work are Simpson Thatcher and Gunderson Dettmer. [Am Law Daily]
* The Mirena MDL judge thinks female attorneys should be on the all-male executive committee. If this is “strategic gender placement,” the strategy is to look bad publicly. [Thomson Reuters News & Insight]
* The Travers Smith trainee who was fired for getting pregnant is due in court this June to find out what type of compensation she’ll receive for being discriminated against by the firm. You go girl! [Daily Mail]
* There’s trouble in paradise: lawyers in the Jodi Arias case unsuccessfully attempted to get a mistrial and withdraw from representation — for the second time — during its punishment phase. [Fox News]
Ten years ago, I co-authored a book that analyzed in all 50 states the existing analogues to the federal multidistrict litigation process. (Some states have analogues; some do not; some have procedures that serve the same purpose through very different mechanisms.)
Don’t scoff! That book served a public purpose, because the information was not then available anywhere else. And it served a business development purpose: If you work at a large firm, you don’t want to defend one-off product liability cases, because the fees won’t bear the big-firm freight. But you do want to defend those silly products cases the instant they transmogrify into mass torts. What’s the point at which the client knows that it is confronting a truly big and bad mass tort? When it’s defending not only a federal MDL, but statewide coordinated proceedings, too. Presto! Time to retain yours truly, the expert in that untrodden field!
Having written the book, my co-authors and I naturally publicized it. We published articles summarizing the substance of the book; explaining how to draft mini-MDL statutes; and, for publication in specific state bar journals, analyses of the mini-MDL processes available in certain populous states. Although I can’t find an online link to the piece, we wrote in a Ohio bar journal that Ohio was the most populous state not to have a formal procedure for coordinating related lawsuits filed in many counties.
Naturally, this triggered some thought in the Ohio bench and bar about whether the state should catch up with the rest of the world. In 2004, more or less, some judicial committee called to solicit my help (and that of my co-authors) in creating a mini-MDL procedure in Ohio.
Popping open that box is the only compensation I’ll ever get for having written that book, because I’m no longer in the private practice of law (so I can no longer use a publication to try to attract clients) and I negotiated an advance payment to my firm (back when I was a partner at Jones Day) that basically guarantees I’ll never get any royalties from this project. That leaves as compensation only the joy of holding the book in my hands for the first time and the satisfaction of knowing that a few people will find the treatise to be worthwhile.
I’ve now held the book in my hands, so that little thrill is behind me. But the treatise is also worthwhile, and I’ll prove it….
I’m fast approaching the two-year anniversary of my move in-house, and I don’t often look back wistfully on my former life as a partner at one of the world’s largest law firms.
But last Tuesday was different. Please bear with me.
For 25 years, I practiced, and tried to develop new business, in the complex litigation space. I worked at a firm that wasn’t interested in defending companies in one-off pharmaceutical product liability or Automobile Dealers’ Day In Court Act cases. Those cases were frequently insured (and the carriers often wouldn’t agree to pay our rates) or otherwise too small to fry. But the moment one of those silly little cases morphed into something real — a mass tort or a Dealers’ Act class action — we were chomping at the bit to get retained.
It’s tricky to market into that niche: “I don’t want your ‘drug caused an injury’ case until you have 1,000 of them. Then, even though I spurned you before, I want you to hire me to displace (or, at a minimum, supplement) your existing counsel on the cases.” The existing lawyer already knows the facts and the law, and ignorant you, who showed no interest before, now wants to butt in. How do you pitch that?
I figured the answer was to develop a reputation at the point where small cases transmogrified into big ones: the filing of a class action, the filing of enough cases that a motion for multidistrict litigation became likely, and advising companies how to respond when “60 Minutes” or “20/20″ called for an interview. I thus spent an awful lot of time writing about those topics and speaking at any conference that would give me a lectern and a worthwhile audience.
Then I moved in-house and changed my focus entirely. Until last Tuesday . . .
Law360 surveyed practicing lawyers around the country asking what books the practitioners would recommend for new lawyers –- the so-called “legal greenhorns.” (The Law360 article requires a subscription; this recent piece from the ABA’s “Young Lawyer” is free of charge and summarizes the results.) The recommended books for new lawyers included Shakespeare’s plays; Alexander Hamilton and James Madison’s The Federalist Papers; Harper Lee’s To Kill a Mockingbird; and Mark Herrmann’s The Curmudgeon’s Guide to Practicing Law (affiliate link).
That leaves only one question: Who’s that Shakespeare guy, and why’s he cluttering up my list?
But enough of that. On to today’s business. How do you bring an ignorant client up to speed?
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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.
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: