As we mentioned in Morning Docket, Chief Judge Jonathan Lippman of the New York Court of Appeals announced yesterday that a new bar admission hurdle would be foisted upon would-be lawyers in the state, in the form of a 50-hour pro bono requirement.
Apparently poor people in the Empire State have been having trouble securing legal services, so what better way to assist them than to force similarly situated people to come to their aid? Instead of relying upon existing attorneys to lend a helping hand to those in need, Judge Lippman has chosen to force the task upon those who have no choice but to obey.
Chief Judge Lippman had a good idea, but it’s a bit misplaced. Let’s discuss what the new pro bono requirement means for you, and delve into what others are saying about it….
Ed. note: This is the latest installment of Size Matters, one of Above the Law’s new columns for small-firm lawyers.
I have written this column from many places: my parents’ couch, my local Starbucks, my bed, etc. I have yet to try it from atop a soapbox, but here goes.
It is common knowledge that the need for pro bono services is increasing as funding for pro bono organizations is decreasing (or ceasing altogether). As explained by ABA President Stephen Zack, in a letter opposing cuts to funding for the Legal Services Corporation, “[f]inancially, many Americans are still hanging on by their fingernails. The worst thing that could happen is to lose the place people can turn to when their money woes create legal problems.”
Similarly, as explained by Esther Lardent, President of the Pro Bono Institute, in her address at the 2011 Annual Seminar and Forum on In-House Pro Bono, with regard to the impact of the economic downturn, “for pro bono . . . the worst is yet to come.” Lardent explains that the loss of funding to pro bono organizations has posed a “justice crisis,” and the need for legal assistance will increase.
So, as a result of the economy, more people need legal aid, but fewer legal aid organizations are able to meet those needs. Clearly if these people are to be served, private lawyers are going to need to take the laboring oar — and they have. According to Lardent, pro bono hours performed by major law firms increased in 2009 (2010 data is not yet available).
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: