Since Lat tweeted this past weekend about my UpCounsel profile, I thought I would share some thoughts about my experience with the service to date. First off, compared to leaving a Biglaw partnership to open a new firm, trying out a new legal platform was easy. I first heard about UpCounsel from a former in-house client who had struck out on his own. He happens to now be back in-house, but at the time we discussed UpCounsel, he was very enthusiastic about his experience using the site. Since I happen to like trying out new things, signing up once I left Biglaw was an easy decision.
Notice how I did not join UpCounsel while a Biglaw partner. Such things are simply not done. For all of Biglaw’s talk about encouraging partners to be “entrepreneurial” or to “try new marketing ideas,” there is a lot of resistance to using “new ways” to reach potential new clients. Couple that inertia with a general distaste towards marketing individual lawyers at the expense of “firm branding” (aside from a select group of key current rainmakers), and platforms like UpCounsel face a Tough Mudder-level set of obstacles to overcome if they want to break into the Biglaw firm marketing rotation. But I don’t think UpCounsel and their “evolution of legal services”-oriented kin want to….
You sometimes hear Biglaw litigators complain about courts not publishing enough opinions about discovery issues. Discovery (especially e-discovery) is such a major — and majorly expensive — part of the complex litigation in which large firms specialize, but there aren’t that many decisions on the books over such nuts-and-bolts issues as responsiveness, privilege, and work-product doctrines.
So it’s noteworthy that the Massachusetts Appeals Court just issued an opinion featuring extended discussion of the work-product doctrine. Some Boston Biglaw litigators will surely welcome the additional guidance on this subject.
But not all of Boston Biglaw will be pleased by this decision. Certainly not the major firm that could wind up getting hit with sanctions as a result….
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
Alliteration aficionados are bemoaning the tongue-twisting fusion of Squire Sanders and Patton Boggs into Squire Patton Boggs. I prefer the feudal-esque Squire Boggs, but then again, I was not on the naming committee. Aside from this rebranding exercise, Squire Patton Boggs makes it clear that mergers (or acquisitions) are easier to execute in principal than reality.
Many of the firms in the Am Law 200 are the result of previous mergers including WilmerHale and DLA Piper. Most of these mergers were consummated before the recession, and since then, the parity between Am Law 200 firms has been dwindling.
The race for supremacy in the legal market has created a system with far less parity than before and consequently, a greater degree of difficulty for mergers. For example, the spread of Profits Per Partner in 2003 is right-skewed — and this will likely always be the case — but overall, there is little variance in spread of PPP in 2003 when compared to the spread in 2014…
‘Out of balance’ is a type of balance, when you think about it.
ATL reader opinion was sharply divided over that recent law firm partner “Hang in There Baby/This Too Shall Pass” email. You’ll recall that the partner was seeking to reassure her younger colleagues who face the challenge of balancing the demands of the Biglaw grind against those of motherhood. Her message: eventually things will be better.
Only a few years ago, when the author was a new mother, she found herself “in the fetal position (ed. note: see what she did there?) on the kitchen floor so completely spent that honest to God I did know how I could get through another day.” Things improved; now the partner can promise her younger counterparts that “one day in the future,” when the kids1 can talk and brush their own teeth, “you will bake a pie and wear clean pants.” In between all-nighters prepping for trial, of course. While some found solace in this message, others found it to be cold comfort at best.
Let’s put aside whether one thinks the partner’s advice is uplifting or risible. For the sake of argument, if the legal profession — specifically law firms — is truly trying to foster the advancement of women attorneys, we can all stipulate that the effort is thus far a failure. What is going on when a fit of despair on the kitchen floor is such a “relatable” thing?
To quote a recent headline, Midyear Bonus Bonanza Unlikely In 2014. We’d agree with that, at least as a general matter. Midyear bonuses are so “unlikely,” in fact, that we haven’t received any emails from anxious associates asking us about the possibility of midyear bonuses.
But there are exceptions to every rule. Which highly profitable, finance-focused law firm just announced bonuses for both lawyers and staff?
I give credit for the inspiration of this article to a writer named Seth Godin who wrote a book called The Purple Cow (affiliate link). My law firm benefited hugely from this book.
The theory of the Purple Cow in a nutshell is that you should try to STAND OUT like a purple cow would stand out from the other mere brown cows. If you don’t STAND OUT, then you just blend in, and you are nothing at all.
Okay, so that is a good point – as if you didn’t know that already. But it is not that simple. And here is why. Our instincts and everything we learn every day – our emotions, our colleagues, and our loved ones – all lead us in the safe (and wrong) direction.
After attending a “meet and greet” dinner put on by our primary outside counsel recently, I was inspired to reflect on that sometimes tricky relationship.
There needs to be trust, but there needs to be distance too. A client perspective after the jump, but I’ve been on both sides, and I think it goes both ways. To all you outside counsel: enjoy your freedoms….
This is the future. You need to titillate both ends, if you catch my drift. Don’t put the economic imperative right in my face. It’s all about the je ne sais quoi.
– a 61-year-old derivatives lawyer from Manhattan, gushing about Bliss Bistro, an underground, invite-only strip club/brothel. The cover charge is $40, and it costs $200 for 20 minutes to rent a private area, plus whatever the women charge for their “services.” One woman recently charged $400 for oral sex.
It is funny how our kids can reawaken old interests for us. As I mentioned a few weeks ago, my eldest son started playing organized roller hockey this year. Aside from becoming a quite loud vocal presence at his games, I was also inspired to buy some gear and start practicing with him. I have already addressed the interplay between the Biglaw and boutique “lifestyle” regarding the latter. This week, I want to address another “side effect” of my rekindled interest in hockey. Because you are forced to confront where you stand when something happens in your current reality that sparks memories of an earlier time.
So after a long-hiatus, I have been watching a fair amount of playoff hockey lately. Especially Rangers games, like a good number of my fellow New Yorkers. And when the Rangers made the Stanley Cup by beating the Canadiens a few nights ago, my thought process went like this: “Wow, the Rangers made the Cup!” followed by “This is great, if they win it will be their first Cup since ‘94!” followed by “Hey, I remember senior year in high school when the Rangers winning the Cup was a huge deal” followed by “No way, I graduated high school TWENTY years ago!”
That feels like a very long time. But despite the passage of time, I can also remember certain things from back then as if they just happened….
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: