Business Models

A Client Value Guarantee?

Today I want to discuss what, I imagine, many readers will thing is a hare-brained idea; and then I want to explain why, if you adopted this idea, your own behavior would change such that it might not end up being hare-brained in the least. Both dimensions of this discussion, I believe, have value, although
read more…

Articles, Business Models, Client Relationships, Finance, Marketing, Practice Group Management

Designing the Future Law Firm

You may have heard about the Business Leadership Summit being organized by The Lawyer, taking place in London September 22—23. (More information here; registration here.) The theme is “embracing change in the delivery of legal services,” and here are are a few of the highlights: The keynote speaker on Day 2 will be Peter Kalis,
read more…

Articles, Business Models, Finance, Partnership Structures, Strategy

Complexity Requires Systems

Much talk has been devoted lately to whether the growth of in-house law departments will take market share from Big Law, or, posed more in the language of economics, whether in-house lawyers are a reasonable substitute for outside counsel. Confessing that I have not devoted concerted effort to exploring the issue, I suppose my own
read more…

Articles, Business Models, Finance, Strategy, Technology strategy

Looking for Innovation in All The Wrong Places

Jimmy Lee, 62, died last week of a heart attack after working out, at his home in Darien. If that name doesn’t ring a bell, he was a vice chairman of JPMorgan Chase, where he had spent his entire 40-year career. He started right out of Williams College at Chemical Bank (later merged into JPMC) when
read more…

Articles, Business Models, Leadership, Strategy

What’s Your GE Capital Practice?

Do you ever actually look hard at your firm’s overall business structure? No, really. Let’s go a step further. Stipulating arguendo that you are one of the rare few who do every once in awhile take a hard look, what do you then actually do about it? I submit that we have in two seemingly
read more…

Articles, Business Models, Finance, Leadership, Strategy

ABA Antitrust Immunity? Not so fast

Hallelujah! A profession just lost a very big round at the Supreme Court. I refer of course to the Court’s 6-3 ruling in North Carolina State Board of Dental Examiners v. FTC, finding that the dental examiners’ board attempting to prohibit nondentists from teeth whitening violated the Sherman Antitrust Act. If you think this was
read more…

Articles, Business Models, Finance, Globalization, Strategy

What’s Value? Answer One Question

Newish to many lawyers, rarely to their delight, is a growing realization that when clients start talking about the price for legal services, they don’t (really) care whether that price is arrived at by summing a whole lot of billable hours, a negotiated “AFA,” a successful RFP submission, or drawing straws. What clients really want
read more…

Articles, Business Models, Client Relationships, Leadership, Strategy

Checkbook Recruiting

From the Kirkland & Ellis site, under the topic Careers–>Laterals Overview (I quote in full, emphasis supplied): At Kirkland, the quality and experience of our lawyers are among our greatest strengths. We are committed to making a substantial investment in our lateral hires by fostering an environment in which they are seamlessly integrated into our
read more…

Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Recruiting, Strategy

The UK’s LSA in the US?

A few weeks ago, an editor at the Oxford University Press site, “Academic Insights for the Thinking World,” was kind enough to write me and ask if I might care to submit an essay for their site.  Yes, I’d be delighted, was my response; what about?  “Up to you – within reason, of course.” “Understand,”
read more…

Articles, Business Models, Finance, Globalization, Strategy

“Seamless”?

A few weeks ago reports surfaced about a motion seeking to compel Norton Rose Fulbright to withdraw from representation of its client Duke University in a case brought against the university by the estate of John Wayne, which wants the right to market alcoholic beverages branded with Wayne’s “Duke” nickname—a textbook trademark dispute. The Wayne
read more…

Articles, Branding, Business Models, Client Relationships, Leadership, M&A, Marketing, Partnership Structures, Strategy