Last week, I came across this great blog post: The Merits of Not Throwing Someone under the Bus. It touches on a few issues that come up all the time during the practice of law (and probably at any job that involves contact with other human beings, which I’m pretty sure describes a few of the legal ones out there, but correct me if I’m wrong).
In sum, Joey P. found herself in a situation in which she opted to be a team player by correcting some minor edits in a motion that another attorney in her office had prepared and then sending the document out to the client. Doesn’t sound like it would amount to anything, does it? Well, there was a big, dumb mistake in the motion, and the client emailed Joey to point out the blunder (while cc:ing a couple of partners because clients tend to be super nice and thoughtful like that).
Joey explained to her partner what had happened and wanting to be a team player, she took responsibility for not noticing the mistake made by the other attorney and decided not to rat that person out.
The way she handled the situation was pretty admirable (especially for a lawyer). There are, however, a couple of other steps that I would have taken if I had been in her situation that I think would have helped to further team dynamics and also to prevent a poor, innocent associate from being blamed for someone else’s screw-up….
“Where do I sit?” seems like an important question. Especially for second-graders on the first day of school. Or for zit-spocked high schoolers angling to spend some class time in the proximity of their crushes. And just like second-graders or hormonal high schoolers, Biglaw partners are known to obsess about their office locations. For example, I have seen partners I used to work for studying the floor plan like a treasure map, for uncomfortably long periods of time.
Surely they were mentally imagining their names transposed over a corner office, or next door to the big conference room, or for the real aspirants, within touching distance of the managing partner’s office. While this behavior is strange when taken to the extreme, it highlights an important reality of Biglaw.
A lot of in-house attorneys dream of reaching the top someday. And when they fall short of becoming the Managing Editor for Above the Law, they look to general counsel positions instead.
You get paid the big bucks, fly first class everywhere, and get to boss around outside law firms. What’s not to like?
I decided to find out. I checked with several general counsels (GCs) and chief legal officers (CLOs) (note — no one at my company), to learn what they think really sucks about being at the top of the legal hierarchy….
The real estate isn’t bad either. Many Biglaw partners own million-dollar homes, which we lovingly cover in Lawyerly Lairs. And law firm offices are paragons of elegance and comfort — which they ought to be, considering how much time the partners spend in them. (In New York, I’m particularly fond of Proskauer’s premises and Davis Polk’s digs.)
Partners with sufficient seniority enjoy coveted corner offices. Right?
Not necessarily. That brings us to our latest Biglaw blind item….
I recently spent a week in Denver over two days (“ba dum bum”). The day I arrived, the temperature hit a record high of 80 degrees, and it snowed several inches the next evening. I was supposed to be attending (and enjoying) the Association of Corporate Counsel’s Annual Meeting, but instead, I was frantically trying to close deals for month end. A constant barrage of emails and calls from clients kept me from really focusing on the innumerable offerings at the conference.
I have written before in this space about my membership in ACC, and no, I don’t get paid to mention what a wonderful organization it is, and has been, for this fairly new in-house attorney. I cannot stress enough the importance of an organization like ACC for a new in-house counselor. Not only are there countless resources available on the ACC website — everything from forms, templates, e-groups, and career services — but there are also any number of networking opportunities for the enterprising lawyer….
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.
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: