by Bruce | September 13, 2019 | Articles, Business Models, Cultural Considerations, Finance, Globalization, Latin America
The following column is by Antonio Leal Holguin, Director of Latin America for Adam Smith, Esq. I recently spent three days in Lima. A metropolis of close to 10 million people, Peru’s capital is one of Latin America’s most vibrant cities and a famous culinary...
by Bruce | August 26, 2019 | Articles, Business Models, Client Relationships, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
Has our first (and really only) answer to the question, “What is a corporation’s purpose?” been wrong for the last, oh, 40 or 50 years? The answer, pace Milton Friedman [see note at end], has of course been “shareholder value!” And now...
by Bruce | June 27, 2019 | Articles, Finance, Leadership, M&A, Partnership Structures, Recruiting, Strategy
Ask almost any Managing Partner or office leader this question and odds are about 98% that the answer you’ll get is, “It depends.” Indeed. We wish there were reliable, consistent, industry-wide data on laterals’ success ratios, but we’ve...
by Bruce | June 14, 2019 | Articles, Business Models, Client Relationships, Cultural Considerations, Finance, Leadership, Marketing, Partnership Structures, Strategy
Let’s open this third and final installment with the #1 question we’re most frequently asked about this model: Can one firm excel at being both a Maroon and a Gray? No. Or in the very best of circumstances, it’s extremely hard to do and it’s...
by Bruce | June 9, 2019 | Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Partnership Structures, Strategy
At the end of installment #1, we promised you we’d discuss what happens if you apply Porter’s famous “five forces” to the Maroons and the Grays. Shall we? Insight from Porter’s “Five Forces” In 1979, Harvard Business School Professor Michael...
by Bruce | June 3, 2019 | Articles, Business Models, Compensation, Cultural Considerations, Finance, Leadership, Marketing, Partnership Structures, Strategy
We have never subscribed to the belief that law firms operate in a fundamentally undifferentiated industry—that each law firm competes with every other law firm—and that given the magic alignment of expertise, cost, and personal rapport, clients’ choice of law firms...
