Are Western Firms Growing Too Fast in China?
October 13, 2006
Seeking to reestablish the rule of law in the aftermath of the Cultural Revolution, China's government in 1980 set an ambitious goal: increase the number of licensed Chinese lawyers by 50-fold. Twenty-six years later, the aspiration has almost been realized. China's domestic legal industry has about 122,000 lawyers, compared to 3000 in 1980. Now the government may be turning its attention from adding to the ranks of those lawyers to protecting their business ' at the expense of foreign firms looking to strengthen their presence in China.
Going Global? Don't Overlook Public Policy
October 03, 2006
Transnational companies need a coherent, forward-looking 'foreign policy,' but most don't have one. Although governmental decisions significantly affect global business success, many corporations and legal staffs are only involved in defensive, short-term or narrowly self-interested 'government relations.'
Foreign Law Firms Defend the Broad Scope of Their Practice in China
October 03, 2006
Foreign law firms operating in China's largest city have been on edge since April, when the Shanghai Bar Association (SBA) issued a blistering memo that accused them of illegally practicing Chinese law. The memo also called for the Chinese government to regulate and 'purify' the foreigners.
China's New M&A Regulation and Its Impacts on Foreign Business
October 03, 2006
On Aug. 8, 2006, China released a new rule of 'Provisions on Acquisition of Domestic Enterprises By Foreign Investors' (New Regulation). The New Regulation took effect on Sept. 8, 2006, and invalidated the 'Interim Provisions on Acquisition of Domestic Enterprises By Foreign Investors' (Old Regulation) issued on March 7, 2003. The New Regulation has drawn speculations that China is changing its policy toward foreign investors' acquisitions of its domestic companies and tightening its restrictions on foreign investments. <br>This article presents the background that gave rise to this new regulatory scheme and provides a comparative analysis of the two regulations, with a particular focus on how foreign companies doing business in China will be impacted.
Using Business Plans As a Due Diligence Tool For Lateral Partners
September 29, 2006
Practice group structures, marketing departments, Chief Information Officers, even off-site operations centers ' each of these now commonplace elements of big law firm life is a manifestation of the business focus these firms have adopted. We all see it, with varying degrees of approval. Global law firms now develop and follow business strategies. Slowly, these firms are bringing a similar business focus to their lateral partner recruiting. For partners who think they might move firms at some point, and for firms doing battle for talent in the lateral market, bringing a business perspective to your analysis can save a lot of time and energy. A properly prepared business plan will prevent the loss of countless (otherwise billable) hours and, more important, help avoid making the wrong move.
Developing a Thriving Client Team Program
September 29, 2006
Get yourself comfortable and spend a few moments with a fellow warrior in the battle to build and maintain a thriving law firm client team program. Thrive is used purposely to emphasize a point. Programs and initiatives come and go, often without meaningful impact, but to thrive is to make steady progress. To prosper, flourish, and grow vigorously (courtesy of dictionary.com, for this purpose). Client teams need to thrive to succeed because anything less will not produce the revenue and relationship goals the program promises to deliver. Success will depend on continuous support from many sources, motivated teaming, rigorous processes and probably fundamental cultural change. That would be tough enough if it was the absolute top priority of any business. Would you be surprised to learn that client teams have not yet reached this exalted status in most law firms?
<b>Sales & Service Strategies:</b> Same Rules Apply
September 29, 2006
Marketing and business-development professionals perform many jobs, including the vital undertaking of helping attorneys stay in touch and expand their network. We spend tremendous amounts of time, energy and money, day in and day out ' on CRM systems, training programs, one-on-one coaching, sports and entertainment programs, seminars, and reminder e-mails ' to help attorneys stay top of mind. <br>If we spend time every week preaching this, why don't we follow our own advice? It's what we call 'Cobbler's Syndrome.' We are the cobbler's children and we have no shoes.
<b>Practice Building Skills:</b> Cross Selling: Finding Hidden Opportunities to Grow Your Practice
September 29, 2006
When working with law firms, the first question that we always get asked is: 'How do we increase our business?' In our experience in working with firms, we have found that they are willing to pay thousands and thousands of dollars in marketing, spend countless hours trying to identify new opportunities, and are always looking for an edge or new strategy to develop more business. We have found that most firms overlook the fact that the most cost-effective and easiest way to develop more business is to utilize the assets they already possess ' by cross-marketing and cross-selling within their own firm.
Media & Communications Corner
September 29, 2006
Meet Nicole Quigley, Assistant Director of Media, Public Relations and Communication with Crowell & Moring LLP.
