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Recent rulings of interest to you and your practice.
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The U.S. Supreme Court recently issued an important decision concerning the Age Discrimination In Employment Act of 1967 (ADEA). In <i>Smith v. Jackson, Miss.</i>, the Court held that employees aged 40 and over can assert claims for age discrimination under the ADEA based on the disparate impact of a facially neutral employment policy, even in the absence of discriminatory intent on the employers' part. In so doing, the Court reconciled a split in the federal circuit courts of appeal and aligned its view concerning the scope of the ADEA with its view of the scope of Title VII of the Civil Rights Act of 1964, which, according to prior Court decisions, permits employees to allege discrimination because of race, color, religion, sex and national origin based on the disparate impact of a facially neutral employment policy. Because employees located in the geographic areas covered by the federal circuits whose courts of appeal formerly prohibited the assertion of such claims under the ADEA can now assert disparate impact claims under the ADEA, the Smith opinion will likely result in increased litigation under the ADEA in respect of these types of claims.
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More than 2 years ago, the Internal Revenue Service published Revenue Ruling 2002-22, 2002-19 I.R.B. 849, in which it held that section 1041 of the Internal Revenue Code governed the transfer of stock options and interests in certain unfunded deferred compensation arrangements to the employee's spouse under a marital property settlement. As a result, the employee spouse was not taxable on the transfer. Instead, the spread on the options (the difference between the value of the employer 's stock at the time of exercise and the striking price) and the amount received as deferred compensation under unfunded arrangements were taxable to the nonemployee spouse in the same way and to the same extent as it would have been taxed to the employee.
Like paying for an estate plan and many other legal services, investing in image marketing is elective. You don't have to do it. And when confronted with all the other things you might need or want, like a new employee, or a new computer system, it's easy to see why an investment in image goes to the bottom of the pile, never to be seen again.
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Like the legal marketing industry itself, the skills needed to be successful in public relations are constantly evolving. The profession is becoming more specialized and much more comprehensive. Many of the important standards will never change, such as the need for ethics, integrity, strategic thinking, a passion for building relationships and facilitating communication, commitment to clients, and strong oral and written communications skills. However, remaining open to constant evolution and lifelong learning adds great depth to a legal public relations professionals success.
Thriving law firms achieve success by meeting or exceeding their clients' service-quality expectations. These expectations are shaped by clients' past experiences, word-of-mouth, and advertising, and create a baseline against which performance is measured when services are delivered. When a firm's performance exceeds the expected level of service, clients remain loyal. Conversely, when performance fails to meet expectations, clients go shopping. It thus behooves law firms to continually explore and experiment with strategies for exceeding their clients' highest hopes.
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The fact is, like most other things in life, you'll get out of a membership only as much as you put into it. So if you want to make the most of your affiliations, you're going to have to put in some effort.
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Whether a firm keeps the pedal to the metal or travels at a more steady pace, effective communications can build profits, promote growth and create demand. But it is important to remember that marketing and public relations materials must comply with the rules of the road, lest firms find themselves in trouble with the law.
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A business development strategy will generate new clients, increase billings and boost originations. In corporate America, every successful company has a strategic marketing plan guiding its future. Yet, according to a recent survey, fewer than 5% of the law firms in the United States have such a plan in place. Drafting a strategic marketing plan isn't rocket science, but it does take some thought.
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Over the years, one of the major complaints we receive from attorneys and marketing directors is that they invest thousands of dollars and countless hours on seminars and conferences that do not lead to new clients. We hear horror stories from professionals who attend these events and don't make contacts, don't arrange meetings, and don't produce any new clients from these events. Like any other marketing effort, you can maximize your results from seminars and conferences if you learn how to plan and work them correctly. If you commit to developing a plan, investing time and effort to execute your plan, and tracking results you will be rewarded with new clients and contacts. Here are a few tips on how to plan for these events, differentiate your practice from your competitors, and develop new business as a direct result of these events.
