IRS Proposes New Obligations for Tax Advisers
February 01, 2004
With the stated purpose of restoring, promoting and maintaining the public's confidence in professionals providing tax advice, the Internal Revenue Service has issued proposed regulations that set forth "best practices" applicable to all tax advisers and mandatory requirements for advisers who provide certain tax shelter opinions. These proposed regulations, issued on Dec. 29, 2003, apply to all tax advisers who practice before the IRS (eg, lawyers and accountants) but are not intended to alter or supplement other ethical standards applicable to practitioners (such as the Rules of Professional Conduct).
In-House Sales Coaching
February 01, 2004
The business of law is changing rapidly. The trend toward consolidation of outside service providers by client companies has accelerated, and is coupled with the demand to harness legal expenditures by the executive teams of these companies. Law firms must now sell the value of the business they are seeking, and must sell the breadth of their services in increasingly complex sales situations. These functions and skills, in most industries, fall within the domain of the sales professional.
Around the Firms
February 01, 2004
Movement among major law firms and corporations.
'The Makeover-ees'
February 01, 2004
Law firm makeovers can be powerful tools in a firm's quest to be a differentiator within the legal profession. A law firm makeover can also have the desired effect of reinforcing existing client relationships and garnering some new business as well. In today's environment, lawyers are spending a great deal of money on Web sites, brochures, logo creation and even holiday cards to make the right impression. Solo practitioners want to appear larger than they are, so very often you will see that they have highly-sophisticated marketing materials. They do this not only to obtain referrals from large firms, but also to attract a certain type of client. Small and medium-sized firms do the same thing. They will hire the best in the business to create an image that can compete with the megafirms. Budgets range in the thousands to achieve a look and a feel that is competitive. Graphic design, by its very definition, imparts a look and feel that sets the tone for how individuals or firms can set themselves apart from their competition. Makeovers can be launched in a variety of ways ' from a firm's anniversary to a sponsorship to a special event. Law firms, legal associations, consultants and others are always looking to impress clients and prospective clients, and imagery ' whether it an invitation, handout materials or giveaways ' is vital to achieving that goal.
Profile: Marc Friedland
February 01, 2004
Over the last 2 weeks, television has given the general public an opportunity to witness two milestone celebrity birthday parties. First came Oprah's 50th, which she televised on her daytime show. Then came Entertainment Tonight and Good Morning America with John Travolta's Surprise 50th birthday party bash in Mexico. Long before these parties took shape, one individual had the daunting challenge of creating the invitations that would monogram these events. I think it is fair to say that when Hollywood types want to make an impression, they will look high and low to seek out the most creative and innovative types to deliver whatever it is that they wish to convey. There seems to be a trend in Hollywood when it comes to selecting an individual to trademark and distinguish an event, and that trend is to select Marc Friedland, who has come to be known as the "stationer to the stars."
The Write Stuff
February 01, 2004
Buying advertising space is one way to promote your firm, but it is also expensive. Papering premier publications with your press releases is free, but also very difficult. A far more effective way to get your firm's name "out there" is to produce bylined articles, written by members of your firm, discussing timely, relevant topics of interest to the companies or individuals whose business you have or would like to acquire. Like press releases, these articles are "free" in the sense that you do not have to pay the publications that publish them. And there is no better way to demonstrate your firm's expertise in a practice area than to have someone write knowledgably about it.
Getting Your Firm's Name Noticed in Electronic and Print Media
February 01, 2004
The moment has come: You've finally landed an interview spot on television, and you're the expert analyzing a big verdict. Colleagues, friends and family are watching. You sense that this media exposure may bring new clients and prospects your way. Your name shows up clearly under your headshot, but, wait ... your law firm's name is not included! How will those masses in need of your services ever find you? Disappointed and frustrated, you wonder why the firm's name was omitted. It had to be a mistake, right? Not necessarily. There are some things that one can do in this competitive legal environment to get your firm's name mentioned, but you are going to have to work for every mention you can get.
CAN-SPAM Summary for Legal Marketing
February 01, 2004
The CAN-SPAM Act was signed by President Bush on Dec. 16, 2003 and went into effect on Jan. 1, 2004. While unsolicited commercial e-mail is still legal under the new federal law, marketers must follow five rules to keep their outbound marketing messages above the board. What follows is a brief summary of the transmission rules.
Law Departments Cut Costs by Sending Patent Work Abroad
February 01, 2004
Cheap foreign labor has long been a frightening specter for some American industries. But these days, garment makers and steelworkers are not the only ones competing with lower-paid counterparts abroad. Spurred by the slow economy, many in-house legal departments are cutting costs by relying less on U.S. outside counsel and more on lawyers in India, New Zealand, South Korea, and other countries where professional salaries are lower.
