I’m always humbled when readers email me, and I try to respond to every message. But alas, not everyone is a fan. My column last week on artificial deadlines generated a long rant of an email from attorney Bob V., excerpted here:
“I was disappointed when, instead of using your column to preach about common courtesy and civility, you used it to rationalize and justify boorish attorney behavior. I thought you were actually going to condemn this kind of BS but instead you went on to rationalize it by fictionalizing a series of explanations for immature, boorish, behavior. Your rationalization about why the partner might justifiably have acted the way she did shows what is all wrong with the practice of law…”
My friend Pablo told me that when Monica, a partner, called his home at 9:00 p.m., he knew it couldn’t be good. Why not email? For an instant, he considered letting the call go to voicemail. Taking a deep breath, he answered.
Monica wanted to know “where he was” with the brief Pablo had been working on. She had not given him any particular deadline, so he explained that he expected to circulate the draft for review the following evening. The brief was a motion to dismiss, and he knew the deadline to file was still two weeks away. He was allowing the partner one week to review before she had to send to the client, who in turn would have another week to review.
The partner, however, had a different idea. “I want it on my desk tomorrow by 8 a.m.,” she told Pablo.” “Not a moment later.”
Historically, to succeed in Biglaw, associates were expected to be conspicuously present not only during the workday, but at night and on weekends as well. Meeting this expectation is generally referred to as putting in “face time.”
Face time has negative connotations. An associate puts in face time so that he will be perceived to be working as hard, or harder, than his colleagues. The implication is that the time spent at the office is strictly for show, as opposed to serving any bona fide purpose. Some attorneys are especially resentful of face-time requirements because they believe their value is easily and objectively reflected in their billable hours.
Associates, however, are now rejoicing that the face time requirement is lessened thanks to the rise of virtual offices, telecommuting, and other non-traditional remote working arrangements. Finally, binders full of women are able to hurry home to cook dinner without suffering from disparate pay or partnership prospects.
But is that really true? Is face time less important than it used to be?
A friend of mine — now a successful partner — told me a story about when he was a junior associate at a well-known Biglaw firm. Phil used to work for a superstar partner who was incredibly well respected by his colleagues and clients, but somewhat feared by junior associates. Phil told me about the time when he had to confess to the partner that he had inadvertently produced to their adversary a small number of documents that had been tagged as “non-responsive”; i.e., documents that did not need to be produced because the adversary had not requested them.
Phil expected yelling and screaming, profanity, maybe a fist pounding on the table. But instead, the partner was silent. His face showed disappointment, not anger. He slowly shook his head side to side several times, muttering to himself, seemingly unable to comprehend why fate should be so cruel as to condemn him to work with such incompetents. He rubbed at his face and eyes, first with one hand, and then the other, as if he hoped to awaken himself from a stubborn bad dream.
After several moments, he sighed loudly, and looked at Phil with seeming pity. He sighed again, to make sure my friend fully comprehended the weight of despair that he was bearing, and then once more, for good measure. Finally, the partner said simply, “We’ll have to call the carrier.”
When lawyers form a new firm, one of their first, most important projects is usually designing their website. This makes sense because the website is often the first thing that a prospective client or referral source will see. Its importance cannot be overstated.
The process of designing a website (or printed marketing material) is considerably different for a new enterprise than it is for an established one. For an established firm, the process involves trying to portray to the outside world the essence of what the firm is and emphasize what distinguishes it from its competition.
For a new firm, however, the process is very different because you must first conceptualize what you want to be before you decide how you want to present yourself to the outside world. In this way, the website of a new firm is more aspirational than it is descriptive. For example, when a new firm proclaims that it handles practice areas A, B, and C, it often means that it intends to handle those practice areas.
This dynamic plays itself out in virtually everything a new business does. When it chooses a logo, or color scheme, or even its name, it engages in a process of self-conceptualization, imagining what it wants to be. I think that’s one reason why new businesses spend so much time, and so enjoy, focusing on relatively simple things like deciding on a logo. It’s fun to imagine your potential….
Blogging is not something I expected to make part of my weekly routine as a litigator. Yet here I am, writing a post every week that relates in some way to my own experience of having moved “from Biglaw to boutique.” This post marks my 40th post on Above the Law, and for several reasons, I remain grateful and look forward to the opportunity to write a post every week, dead weeks included.
If your goal is to build credibility regarding your expertise in a certain area, then blogging — or tweeting, for that matter — about that topic is a helpful start. Blogging about a certain topic is in some ways the online equivalent of presenting a seminar or CLE course.
Generally, the benefit of presenting a seminar is greater than the sum of its parts. For example, if you give a seminar, each attendee is a prospective client. But more than that, you also help build a reputation as someone knowledgeable about your topic.
Legal blogging works the same way. If you consistently blog about a certain topic, then you have a good platform by which you can establish credibility as an expert in the field. If you tweet and re-tweet about your topic, then someone searching Twitter is more likely to come across your name and assume you have expertise in the area. I know from experience that valuable contacts and potential clients actually do consult Twitter for lawyers to hire….
I’ve been known to quip, “I thought I was wrong, once, but I was mistaken.” But I realize that my column here on Above the Law has often been “wrong” in at least one important way: I’ve compared apples to oranges.
For example, I authored a “top ten” list of differences between working in a big firm and working in a boutique. But many of the items focused on differences between employee and owner. I compared working where “you get paid either a salary or an hourly rate” with “running your own shop.” I compared “making all the decisions in my cases” with “waiting for a partner to act on my recommendations.” I compared doing the grunt work with making the important decisions.
That strikes me as comparing apples to oranges because all those comparisons actually contrasted being an employee with being an owner. That fundamental distinction accounts for many of the supposed differences between working in Biglaw and working in a small firm or boutique.
But what about associates who are considering becoming associates at a small firm or boutique? That’s the true apples to apples comparison. If you’re not starting your own business, but will instead remain an associate, what are the real differences when moving “From Biglaw to Boutique”?
Many attorneys who leave Biglaw for smaller or solo practices find themselves considering contingent fee cases, either by necessity or design. “By necessity,” because a practice may not have many paying clients when it first forms. “By design,” because an attorney working for a contingent fee has the prospect of hitting a huge payday and making many times what an attorney who bills by the hour can make.
The challenge of business development takes on a whole new meaning when applied to contingent fee lawyers. To some extent, a contingent fee attorney has the opposite problem of an attorney billing by the hour. There is no shortage of clients who want a lawyer they need pay only if they win. Thus, the contingent fee attorney always has too many potential clients whereas the hourly attorney always has too few.
Because attorneys can find themselves inundated with clients offering a contingent fee, evaluating which cases to take, and which to turn down, can be challenging. Essentially, taking a case on contingency is an investment of your time, energy, and financial resources. You need to carefully assess whether the investment is a good one….
Associates in both Biglaw and small should give some thought as to who is their most important client. Some might think that their most important client is their biggest or most prestigious one, or the one whose matter has the most at stake. This week at Morrison & Foerster and Quinn Emanuel, yearning associates might name Apple and Samsung, respectively.
Other associates might take a longer view, and answer that their most important client is the one with the greatest potential to offer them future business.
Still others might select the client for whom the associate has the most responsibility. For example, if you are one of three or four associates on several matters, but the primary or sole associate on another, you may view that latter client as your most important.
All these associates would be making a mistake by not understanding who is truly their most important client….
I’ve heard that a hungry dog hunts best. I don’t know if that’s actually true because my pugs were always hungry, and yet they could not have caught a three-legged turtle. But the saying makes sense, and I do know that staying hungry — but not desperate — is an important concept for law firms.
One way a young firm should stay hungry is to always search for new business. There are good reasons that I constantly harp on the importance of business development. Even if you are fortunate enough to be busy, you never know when your current workload may dry up. This is particularly true in litigation because any case can always settle or otherwise resolve unexpectedly. No matter how busy you are, you should constantly seek out new work and new clients.
But seeking out new work comes at a potential cost to your current cases and clients. You can’t be so desperate to grow that you spend so much time on business development that you ignore your current clients or let your current caseload suffer. Some lawyers take a churn and burn approach, trying to maximize their short-term return from every engagement, with no concern for the longer-term client relationship. To form a practice that’s built to last, you need to work hard to maintain those relationships, and that means you can’t neglect your current clients while constantly fishing for newer ones….
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: