Practice Building Skills: Building the Ideal Business Development Plan
June 29, 2007
Many attorneys ask us, 'What is the ideal prospecting plan for attorneys? Can't my associates and younger partners just follow our top rainmakers for a few days and then just do what they do?' These are two of the initial questions that we hear when we begin working with law firms. Many attorneys assume that there is an easy magic formula for developing new clients, and if they can just get their hands on this secret formula their business development problems will be solved forever. Unfortunately, our experience tells us that a 'one-size-fits-all' magic formula for success does not exist.
Mid-Market Firms Get Wise to Marketing
June 29, 2007
Welcome to the new era of law firm marketing. It's been a long time coming. The profession didn't even allow formal advertising until the mid-1970s, and now the prospect of selling seems a bit distasteful to some law firm partners. But lately there are signs that some law firms are starting to truly understand the value of marketing and are empowering their CMOs.
Corner Office: Uses and Abuses of the Two-Tier Partnership
June 29, 2007
By the late 1990s, many law firms adopted a practice that significantly changed the original partnership paradigm. They created a new position, called nonequity, income, or contract partner, into which associates who were not admitted as equity partners could be placed. In effect, they created a two-tier partnership. This permitted them to retain associates longer, with the prospect that equity partnership might still be in their futures. But it was seldom made clear just how far into their futures.
Three Skills a Lawyer Needs to Succeed
June 29, 2007
The top three competencies or strategies a lawyer needs to succeed today are the abilities to generate new business, to learn the business of his or her clients, and to do top-notch networking. This article offers helpful hints on how to achieve them.
Movers & Shakers
June 28, 2007
Information about the advancement of lawyers in the patent profession.
USPTO's Accelerated Examination Program: Speed at a Price
June 28, 2007
Part One of this series discussed the history of the USPTO's Accelerated Examination procedure and the procedural requirements for applicants. This month's installment continues the discussion of requirements for accelerated examination.
Best Practices, Productivity Tools Are Key to Higher Patent Returns
June 28, 2007
Today's innovation and brand-driven companies are well aware of the importance of intellectual assets ('IAs'). Few CEOs would deny the fact that a significant portion of their company's value is derived from intellectual property, especially patents. However, IAs represent a challenge for many corporate managers seeking to realize value in a world historically tied to 'hard asset' financial measures. Not only do most operating managers lack experience in systematic management of intellectual assets, but also they lack the necessary tools — such as agreed-upon accounting methods and standardized financial reporting for such assets. Not to mention the fact that most companies also lack even the most basic information systems needed to manage how intellectual assets are created, managed, and exploited.
