What To Do When The Partner Track Closes
For senior associates up for partner, firms have become increasingly focused on business potential and less so on an associate’s ability to out class others in the courtroom or at the negotiating table. In the days of yore, the partner track in Biglaw was oftentimes a reward for consistent competence and professionalism. In an era of PPP and RPL, most firms other than the Cravath, Quinn, or Simpson Thacher types, are less likely to promote associates unless they see real revenue generating potential. If you find yourself in your fifth to tenth year and are unsure whether you will make partner, here are four tips to help you steer your career… [Read more…]Bad News for Big Law Firms: Corporate Clients Do More Work In-House
Big Law—the business of providing legal services via independent professional partnerships—is going through a rocky period. Consolidation and culture change are the themes of the day. The inability of famous brand names, such as Patton Boggs, to survive on their own, not to mention the implosion of august partnerships such as Dewey & LeBoeuf and Howrey, speak to tumultuous times. Now more sobering news for Big Law. Consero Group, a corporate conference organizer, reports that in-house general counsel are expanding budgets and pulling work back to their own dedicated staffs rather than farming it out to firms. [Read more…]Lessons from MOOCs About the Future of Law
In theory, MOOCs — massive online open courses — sound too good to be true. Classes are available on any topic – from learning a new language or computer coding or even how to start a law firm. Even better, most MOOCs are free (or inexpensive) and open to anyone with an Internet connection. Yet in spite of these enormous advantages, just ten percent of MOOC registrants complete their courses, reports Harman Singh at Beta Boston. The reason for these high dropout rates? Singh suggests that lack of student-teacher engagement is to blame [Read more…]The Future of Law Firm Marketing: Does it Include Billboards?
Previously, Law Firm Marketing could be summarized as the smiling face of a lawyer on a billboard. With the billboard communicating the lawyer and law firm was competent, friendly, and inviting, this form of marketing is known as outbound marketing. The goal of outbound marketing was to initiate the conversation and send a message through whatever medium deemed to be most effective. [Read more…]BigLaw Will Discount Deep To Keep Big Clients Happy
Law360, New York (August 05, 2014, 8:40 PM ET) — A recent survey shows law firms typically charge their largest clients 13 percent less than their standard hourly rates — discounts experts say stem from pressure exerted on firms during negotiations by large companies that feel the high volume of work they’re giving the firms entitle them to lower rates. In a joint survey of close to 1,100 private-practice lawyers and corporate counsel by Law360 and The BTI Consulting Group, corporate counsel reported receiving an average discount of 15 percent, while law firms reported handing out an average 12.7 percent discount to their largest clients. BTI president and founder Michael Rynowecer says the two percentages differ because law firms utilize different metrics to calculate their discounts. [Read more…]Industry News
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When: Wednesday, October 22, 2014 to Thursday, October 23, 2014
Where: One King West, Toronto
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