China's New M&A Regulation and Its Impacts on Foreign Business
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
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
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
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
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
Meet Nicole Quigley, Assistant Director of Media, Public Relations and Communication with Crowell & Moring LLP.
<b>Technology in Marketing:</b> New Tools for Effective Proposal Generation
According to a 2006 benchmarking survey by Chicago-based Hubbard One, a Thomson Elite company, 51% of the survey respondents said that they respond to more than 10 proposals a month, often with minimal advance notice. Some indicated close to 30 per month. As the demand increases and marketing is more involved in the business development process, 62% of marketers have indicated they are not satisfied with their current proposal process.
A New Generation of Legal Marketing
The BTI Consulting Group's brand new research with law firm marketing leaders reveals three powerful shifts in the world of legal marketing:<ul>1. Marketing spending per attorney climbs more than 20%;</ul><ul>2. Marketing staffs expand by nearly 15%; and</ul><ul>3. Business development takes center stage as a key objective.</ul>
Eliminating the E-discovery Headache with E-mail Intelligence
Juries don't always believe what people say, but they do tend to believe what is on paper. The difference that thorough e-mail review and analysis can make in the outcome of litigation is dramatic, and attorneys cannot risk overlooking key evidence that can make or break a client's case.
