Playing Hard To Get
November 02, 2005
Fifteen years after merger mania started, and despite the invasion of out-of-towners now crowding the Bay Area, these and other firms remain independent ' sometimes fiercely so.
Keeping Partners Engaged In Associate Development
November 02, 2005
Firms have good reasons for offering formal associate development programs such as law firm universities and mentoring programs. Clients expect trained associates and associates expect training. Formal programs, often with full-time staff support, can effectively deliver training to groups of associates.
The Grass Is Always Greener: Life As In-House Counsel
November 02, 2005
As a private practitioner, sitting at a paper-smothered desk getting rapid-fire e-mails and phone calls from multiple clients, each of whom needs something yesterday, filling out time sheets and reviewing mountains of billing, it is easy for those in private practice to envision life as an in-house attorney as the better ' or at least less stressful ' choice of career paths. This article reacts to that vision, highlights some of the different issues facing those in-house, and discusses the manner in which some of the same issues faced by all attorneys translate in an in-house environment.
What In The World Is Going On With Lawyer Retirement Planning?
November 02, 2005
Retirement is a distant and unnoticed object of concern for young lawyers. After the toil of law school, the terror of the bar exam and the career-defining decisions of job searching, a young lawyer cannot be blamed for feeling immortal. With a seemingly endless stream of years ahead to ply his or her skills in the world of the law, slay a few dragons and make his or her fortune, retirement planning is not on the "to do" list. <br>This article reflects the results of a survey of law firms around the nation that reveals a variety of approaches to retirement planning and funding. Interviews focused on the structure and the funding of retirement plans. While the results of this survey are anecdotal, certain conclusions and recommendations emerged from the effort.
Joining A Board: The Porcupine Approach
October 27, 2005
The answer to the question "should I join a board of directors?" has changed in recent years from "I'm deeply honored," to "you must be out of your mind." <br>Nonetheless, I still advise people to go on corporate boards. They should, however, recognize that it's not an honor. It's not a position of social prestige. It's a hard and risky job. People should make the decision to join a board the same way we've been told in the old proverb that porcupines make love: carefully, very carefully. It is not a snap decision. It's a decision that requires considerable thinking and research.
CD: Lawyers and Their Clients: A Balancing Act of Understanding and Managing Expectations
October 07, 2005
Law firms are rapidly gaining an understanding about how much of a competitive advantage is achieved when they truly understand their clients' needs and align their services with those needs. But this is often easier said then done. This Web Audio Conference will be presented from a variety of perspectives -- a General Counsel of a major corporation, a partner in leading regional law firm who manages significant client relationships, and nationally known consultants from Hildebrandt International who serve both constituents (law firms and law departments).
'Mod' to 'SOX' to 'ISA'
October 05, 2005
Almost 10 years before the enactment of the Sarbanes-Oxley Act of 2002 (hereinafter SOX), the U.S. Customs Service, now U.S. Customs and Border Protection (CBP), persuaded Congress to enact legislation to mandate many of the same corporate compliance guidelines that are now prevalent under SOX. That law, the Customs Modernization and Informed Compliance Act (Mod Act), Pub. L. 103-182, became effective Dec. 8, 1993.
Health Savings Accounts: Recent Improvements
October 03, 2005
In his preliminary analysis of this emerging subject in the August 2004 edition our sibling newsletter, <i>Accounting & Financial Planning for Law Firms</i>, Rick Stieglitz noted several key advantages of HSAs for employees: the account accumulates tax-free growth; funds are immediately available for qualified medical expenses; any unused remainder at year's end carries over, rather than being lost; and an employee's account is portable to another employer. HSAs offer tax advantages to employers as well ' if implemented properly. This updated report suggests that HSAs have gotten even more attractive.
Business Development: The Ethical Boundaries
October 03, 2005
In recent years, business development has meant different things in different segments of the American legal community. To some attorneys, extensive media campaigns and billboards are the preferred method. To others, in the mass tort context for example, the aggressive pursuit of victims and their families has been all too commonplace. Elsewhere, Web sites and computer chat rooms have supplemented or supplanted the traditional firm brochures and client seminars. <br>In reaction to these trends, a number of jurisdictions have revamped their business development ethics rules in recent years. Unfortunately, the necessarily "one size fits all" approach to explicit rules has led to some curious and counterintuitive results. In states that forbid direct in person contacts with non-clients who aren't lawyers, for example, it may make sense to prevent attorneys from badgering widows and orphans. But these same rules likewise prevent lawyers in such states from telephoning a sophisticated, educated company president.
