There comes a time in every law firm associate’s journey toward partnership when business development becomes a primary issue. However, you cannot simply flip the switch when you need to. Associates need to get ahead of the issue, even years in advance of when it becomes a necessity. 

And there inlies the problem.

At many law firms, an associate is able to get by for long stretches in service of other lawyers who bring in a large amount of the work.

Without external pressures forcing the issue, internal fortitude is required to do difficult things, such as preparing the presentation, writing the article, or calling the prospective client or referral source. Even with the best intentions, it’s easier to defer the long-term priority for the immediate necessity.

Are you interested to hear more ideas in the less-is-more approach to business development for young lawyers? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

Restructuring and corporate litigation are among Big Law’s most popular practice areas for onboarding lateral talent as 2020 comes to an end and as firms seek to leverage veteran industry expertise amid uncertain economic conditions. 

New York-based law firm Proskauer Rose added to its Chicago litigation team in mid-December with its 12th lateral hire of 2020. They have added Freeborn & Peters attorney Todd Ohlms, a litigator who was partner and co-chair of the private equity, portfolio company and litigation practice groups.

Law firm Davis Wright Tremaine also added a new litigator to the partnership, Rasheed McWilliams, who comes from Zuber Lawler & Del Duca and will be based in Los Angeles. McWilliams practice focuses on IP infringement litigation and the defense of California Consumer Privacy Act and Telephone Consumer Protection Act cases.

Are you interested to hear more about big firms beefing up their litigation teams and restructuring their practices with veteran lateral hires? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

For millennials or young lawyers getting their start after graduating law school, there are more career options in the legal system more than ever before. Whether it’s firms, alternate legal service providers, in-house legal departments, the Big Four or even legal technology companies, fresh-faced talent in law has its pick of choices when charting a career path.

However, the traditional law firm path may be the track that still holds the most appeal to young professionals, even as the COVID-19 pandemic has impacted the economic climate and is causing corporate legal departments and others to rethink their preference for full-time attorneys.

Still, opportunities for young attorneys are also beginning to appear inside corporate legal departments, which have traditionally favored more experienced attorneys.

Are you interested in learning more about how even in a crowded market, big law firms still have an edge in wooing millennial talent? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

Recently, Am Law 200 firms have been hiring more for their labor and employment and mergers and acquisitions departments.

The pandemic has put labor and employment lawyers, specifically, in high demand as firms and companies deal with evolving head counts, remote work, and the liability associated with in-person work. 

The firm Blank Rome hired leading Jackson Lewis class action lawyer, William J. Anthony, to join the firm’s New York-based labor and employment and class action departments. 

Kaufman Dolowich Voluck brought on Tressler’s labor and employment department chair, John Mancebo, to join as a partner in the firm’s New York-based office.

Are you interested in learning more about who else big law is seeking out and hiring as demand stays high for labor and employment groups? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

Numerous law firms have implemented layoffs, pay cuts and other austerity measures in spring and summer this year in response to economic pressures the COVID-19 pandemic has created. 

Months later, some firms have either rolled back some austerity measures or made additional cuts, or some combination of the two, and some firms are restoring pay after reducing salaries earlier this year.

Around 50 firms have recently made changes in the midst of the coronavirus pandemic and in this article they discuss what changes their firms have made in the recent months.

Are you interested in learning more about adjusting the COVID-19 response and how law firms are altering austerity measures? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

If there is a bright side to take from this pandemic, it is that law firm associates are facing brighter futures and a far less volatile job market than young lawyers who stared down the 2009 financial crisis. And attorneys at elite firms may even see their compensation boosted as firms look past survival and toward the talent war. 

Those who were around a little over a decade ago see fundamental differences not only in the tenor of the pandemic-induced recession, but also how law firms are conducting themselves (many of which were scarred by lessons learned).

“Associates are in a more favorable position this year,” said Tim Corcoran, a law firm compensation consultant.

Are you interested in learning more about the good news for associates that the COVID recession is not 2008 all over again? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

In today’s world, general counsels have the chance to do more than just sit at the proverbial table. Standout legal officers are driving diverse cross-functional initiatives alongside chief financial officers and other members of the corporate C-suite. 

As a company’s chief legal adviser, GCs are responsible for guiding the company in a safe direction through a gauntlet of business and legal obstacles.

These obstacles could include more traditional items such as risk management, regulatory compliance requirements, corporate and securities matters, intellectual property protections and contracts, but also could include more business-focused items such as digital transformation and technology adoption. A successful GC is active, dynamic and agile, anticipating new opportunities and driving positive change.

For the chief legal officer or GC to operate beyond just the legal function, he or she must have a deep understanding of the company, as well as its broader industry. Having deep knowledge of the organization allows a GC to engage more fully in C-suite conversations, identify where the greatest vulnerabilities are, and tailor initiatives accordingly.

Are you interested in learning more about how general counsels are taking leading roles? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: [email protected]
ALM Media Properties LLC

The technology is not new, but the move to the virtual world is. Remote, virtual law offices have been around for some time, but during this COVID Crisis many lawyers have been working remotely and that trend may be the way forward for those who are looking for more flexibility for more work-life balance.

The Pros and Cons of Practicing Virtual Law

As it stands now, many law firms are staggering their workforce to limit in-house staff to half to a third for safe social distancing during the pandemic. A virtual firm doesn’t have to be completely online, some only go into the office for in person client meetings or when face to face interaction is necessary to get deals done. 

No one scenario works best for attorneys nor law firms, here are the pros and cons worth considering.

PROs of a Virtual Law Office

• Lower monthly overhead by eliminating or moving to a smaller office space resulting increased profits. 
• Flexibility with the hours you work to reduce stress and have more control over your time including eliminating commuting.  
• Better work/life balance improving productivity, health and well-being. 
• Eliminate geographic barriers to penetrate new markets while attracting a larger talent pool of attorneys. 
• Eco-friendly and possibly paper-free by bundling technology services and outsourcing services such as payment processing, marketing, and legal research.
• Collaborate more freely with clients as well as deepen the connections with attorneys, paralegals, and other staff. 

“Many attorneys I speak with are hesitant to go to a true virtual law firm.  While many of the CONs maybe be a concern, however there are several virtual law firms that have overcome these challenges.” – Shari Davidson, President, On Balance Search Consultants. 

CONs of a Virtual Law Office

• Working remotely may negatively impact traditional office-life and personal life, as the line between the two become blurred. Many find remote work ideal. The only real Con is you.
• There is no substitute for face-to-face interaction.  Many virtual law firms plan retreats to meet face to face as it is the best way to develop relationships nationally and internationally. That said, collaboration can be achieved in the virtual space.
• Join a virtual law firm that has the software platforms in place to mitigate the risk of compromising client’s privacy and data security. 
• Find a virtual law firm that invests in tech that foments collaboration with your legal team.
• Join a firm that has software programs that improve client communications by eliminating unnecessary emails while at the same time improving productivity.
• State regulations vary regarding attorneys being able to practice law in other jurisdictions. Find a virtual law firm that has resources in states where it can service your clients.  This way you can collaborate with other attorneys that are licensed in other states and still service your clients. You want to stay in control of all the legal matters, that way the firm and client view you as a trusted advisor and asset to the firm.
• Virtual firms tend to have a strong retention rate due to the flexibility of being to work remotely.  

Virtual law offices are luring talented attorneys, mostly working mothers, from big firms offering work-life balance and flexibility to work in the evenings and on weekends. Younger attorneys may want the flexibility that remote work affords. 

Senior partners may opt for a virtual firm giving them a way to monetize their book of business, while still being able to bring in new business working remotely part time. 

“Don’t just close your doors and leave all that money out there. Create a steady stream of retirement income from your book of business. Make sure you get paid at the end of the rainbow.” — Shari Davidson.

There are top-rated virtual law firms that do everything remotely, including estate planning, business law, and real estate.  It’s all done online, from virtual video depositions and many other important services. 

Remote work will continue to evolve, and it isn’t going away any time soon. Virtual law firms can help you create the life you want to live.  

Deciding whether a virtual law office is right for you depends on if it aligns with your strategy, goals, and what you’re trying to accomplish. By working with a legal consultant, you can align your goals to the right firm.

About On Balance Search Consultants
On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm.

Contact us today. Call 516.731.4300 or visit our website at https://www.onbalancesearch.com.

Please note that the content of this blog does not constitute legal advice and is only intended for the educational purpose of the reader. Please consult your legal counsel for specifics regarding your unique circumstances and the laws in your states pertaining to social media and any legal restrictions regarding the law.