In 1983, when I graduated from law school, essentially no one wanted in-house legal jobs, and people who worked in-house weren’t held in very high regard.
To the contrary: With few exceptions, in-house lawyers were viewed as failures. These were the folks who couldn’t succeed at real jobs. People went in-house because law firms wouldn’t have them; jobs with short hours, low pay, no challenging assignments, and no stress were the only available alternative.
That was not simply my narrow-minded perspective. It was the widely shared belief of generations of lawyers who came of age in the law before about 1990. I recently had a drink with the general counsel of a Fortune 250 company, and he (or she, but I’ll use the masculine) told me that he could never be a success in his father’s eyes: “My father was a partner at a major law firm. He was pleased with me when I clerked for a federal appellate judge, took a fancy government job, and later became a partner at a big firm. But then I went in-house, and he lost all respect for me. He wanted me to ‘succeed’ in the law — to try high-profile cases and argue important appeals. When I went in-house, he quickly decided that I was a failure, and there was never any chance that he’d change his mind.”
Lawyers like to complain about the billable hours requirements at their firms. A common question seems to be what will count and what won’t. In this line of work, time is money, and many associates want to know if they’re wasting their time.
If the firm makes you go to a professional development event, are you losing out on hours? If you get wrangled into doing pro bono work, are your weekly billables for paid clients going to plummet? And will that ultimately get reflected in your bonus check?
Yesterday, we lamented the fact that we often report on depressing news about the state of the legal profession in this country. Today, we actually have some good news. Jenner & Block realized that their lawyers shouldn’t be toiling away in their dungeons offices and forgoing pro bono opportunities in order to meet their billable hours requirements.
The firm remembered that this profession is supposed to be about helping the less fortunate, and it has adjusted its policies accordingly….
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: