Closely held businesses produce over 50% of the Gross National Product ("GNP"). Less than 50% of these businesses have a continuation plan and almost one-third of these companies (29%) use a buy-sell arrangement to assist in their planning. Buy-Sell agreements are very simple tools that over the years have grown to meet increasing needs of closely held businesses.
LAW FIRM MARKETING AND DIVERSITY continues the discussion from our last column. Women and minority lawyers will enrich our services to in-house counsel because they bring multiple perspectives to bear on so many legal issues. After all, there is alot more involved than writing briefs and inking contracts. My AGC colleague may still disagree with the benefits underscored in this and the previous column, but by having an open discussion, you have gone a long…
There is no firm in business today that isn't inundated regularly by requests for contributions, whether they are for charitable, community or political causes. For the community-minded firm, the requests can be overwhelming, as is the feeling that you do indeed want to help the organization requesting your help. But how can you serve your community ' and frequently, your firm ' without hurting your own firm's budget and community relations? You can say yes'
When it comes to work product production, internal and external communication, or workplace safety, the question becomes: "Is there adequate input when these policies are developed, and who are the enforcers?" As important, is the question, "Do established best practices hamper client relations or staff professional development?"
Interviews with senior associates and individuals in their first or second year of partnership (particularly equity partnership) reveal that they frequently face a number of surprises ' even shocks ' when they enter their new, long-desired status. Here's what to do about it.
Who's doing what; who's going where.
An interview with Sharon Meit Abrahams, Director of Professional Development, McDermott Will & Emery LLP (Miami).
The deadline for submissions to the coveted MLF 50 ' The Top 50 Law Firms in Marketing and Communications ' has been extended to Monday, Sept. 29, 2008. Click here to see the submission criteria.
Last month, the author said that heightened awareness is necessary after the Supreme Court ruling in CBOCS West, Inc. v. Humphries increased the stakes. The discussion concludes herein with a look at the mechanics of an investigation.
When a firm finds itself in the midst of a management crisis, the place to begin to search for the source of the problem is at the top of the management hierarchy. This may not be a popular notion or an easy task. The purpose is not to find fault. The point is that an organization does not simply evolve. It must be built in an orderly manner. The values that are important to a firm have to be defined and centrally organized. The responsibility for these goals must be keyed to an organizational factor, whether this is a committee or an individual.
