The harms that can result from computer security breaches are largely uncovered by the types of insurance policies most law firms maintain, and that makes those firms subject to unnecessary risk for theft of client data. Combined with the inadequate security most law firms provide for client data anyway, the resulting exposure risk may well violate legal professional ethics.
Virtual data rooms ('VDRs') offer legal and financial professionals an array of advantages. Overall, VDRs make it possible for lawyers and other deal advisers to focus more on the substantive work to be done and less on procedural aspects of deal management.
WHAT DID NOT WORK II. This is the second in a series of comments on why in-house counsel rejected law firm business development efforts. Attorneys marketing must consider a wider range of sales considerations than typically brought to the table. Following are more examples of what I have heard counsel discuss law firm marketing presentations: 1. Make sure everyone on your team sits facing the inside counsel. Don't insult them by looking out the window or keeping…
WHAT DID NOT WORK II. This is the second in a series of comments on why in-house counsel rejected law firm business development efforts. Attorneys marketing must consider a wider range of sales considerations than typically brought to the table. Following are more examples of what I have heard counsel discuss law firm marketing presentations: 1. Make sure everyone on your team sits facing the inside counsel. Don't insult them by looking out the window or keeping…
This article explores what keeps lawyers committed to the practice of law, what law firms can do to keep attorneys passionate about the law, and what lawyers can do to retain the passion.
Given the protections from liability available in many jurisdictions, most legal employers have a good deal more flexibility than they currently exercise in handling requests for references. Yet, many cautious employers have been slow to liberalize their reference practices.
New York's Sullivan & Cromwell LLP plans to pay counsels and senior associates (fifth-year level and up) bonuses tied to the firm's financial performance.
This article examines the two main objections to outside ownership of law firms. The first is that it would permit nonlawyers to interfere with lawyers' exercise of professional judgment. The second is that the firm's duty to its shareholders would lead it to focus blindly on maximizing profits.
This commentary provides some preliminary thoughts on how equity investments in non-U.S. law firms may change how U.S. law firms do business.
WHAT DID NOT WORK - 1. Offering to handle and manage what inside counsel already have the skills to manage. 2. Relying on good results but not working on the relationship. 3. Offensive humorous comments. Conducting comprehensive research on your clients and prospects, both as individuals and on their companies is one of the single most important components to successfully closing a new engagement. Yet it is one of the major reasons in-house counsel do not retain firms. Sure,…
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