Over the last three weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, here, and below. As with the three prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues….
AP: Any serious observer of Biglaw can see that firms continue to struggle adapting associate development to the new state of Biglaw-client relations. What can Biglaw learn from corporate clients like yourself on that front?
Over the last two weeks, we have heard from an In-House Insider, an opinionated source of insight into Biglaw-client relations — see here, here, and below. As with the two prior installments, the only changes I made to the Insider’s words were those done to protect their identity, and Insider was given the opportunity to revise their points once I added the questions and commentary. Again, I thank Insider for the candid observations and thoughtful opinions on these core issues.
AP: How firms are viewed from a value perspective is often very difficult to gauge from the outside. What criteria do you use to determine if a firm is delivering services to your company appropriately from a billing perspective?
The news of the K&L Gates / Middletons merger, which looks a lot like the acquisition of Middletons by K&L Gates, got us thinking about the value of law firms. It’s quite apropos given that Middletons is based in Australia, home of the world’s first publicly traded law firm.
As we mentioned in yesterday’s Morning Docket, the American Lawyer recently set out to determine the world’s most valuable law firms. How did Am Law go about doing this, and which leading law firms sit atop their rankings?
I’ll be giving my “book talk” about The Curmudgeon’s Guide to Practicing Law at The University of Michigan Law School on Monday, March 5, and again at Northwestern University Law School on Tuesday, March 27. If there’s a chance your organization might be interested in that talk, and you’ll be in Ann Arbor or Chicago at the right times, please let me know. We’ll sneak you into the room, and you can get a sense of the topics that I discuss.
Now, the business: You are not a potted plant! When you transmit something, either within a law firm or to (or within) a corporate law department, add value. You are not — or should not be — simply a conduit through which things flow. You don’t impress people with your timidity, and you may well annoy people.
Have you ever heard of a “chief value officer”? Let’s assume your answer is “no,” because you don’t spend your free time reading synergistic white papers produced by McKinsey & Co. But that’s something the good people at Drinker Biddle would like to change. The Legal Intelligencer reports that Drinker Biddle is creating a new position to help the firm focus on client value:
If in a push for efficiency law firms are changing the way they offer their services, it’s only logical that how they market those services needs to change as well.
That’s a concept not lost on Drinker Biddle & Reath, which, after scaling back what it calls its client relations department over the last four years, is ready to grow it in a different way after widely restructuring the department’s functions.
The restructuring is highlighted by the appointment of Chicago-based Kristin Sudholz as the firm’s first-ever chief value officer.
You gotta ask yourself: What kind of economy are we living in where a professional services firm needs to create an executive position to make sure clients receive value for the services they purchase? It’s almost like a automobile manufacturer needing to create a “chief driving officer” to oversee consumers’ ability to actually drive the product.
The thing is, I’m almost positive GM does have an executive in charge of “drivability” or something. So maybe this Drinker Biddle idea isn’t totally off the wall…
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.