New Financial Concepts in Patents
October 07, 2003
The bear market, the uncertain economy and pre-war jitters caused companies to seek to increase their cash reserves and to look aggressively for opportunities to increase their revenue. Certain advanced financial strategies recently used in financial markets may offer companies the opportunity to do just that. In particular, in-house patent attorneys and consultants should seriously consider recommending patent monetization as an alternative to standard patent licensing. The emerging monetization strategies that provide alternatives to licensing are founded on the growing appreciation that patents are actually an asset class in a financial sense as compared to a mere asset from an accounting sense. An asset class, as distinct from an asset, comprises a collection of assets that have in common systematic or macroeconomic drivers of price and risk.
Making A Colorful Impression
October 06, 2003
The power of color begins early. When youngsters get down on the floor with a big piece of paper and a box of crayons or markers, it doesn't take long before every color has been used. We all love color.
Strategies For Marketing During Wartime
October 06, 2003
With the U.S. and its allies at war with Iraq, one of the nation's largest marketing trade groups, the Direct Marketing Association (DMA), tackled what they view as the inevitable repercussions ' 'likely impact on the economy, consumer behavior, receptivity to marketing vehicles, and the possibility of reactive terrorist acts both domestically and abroad.' Based on the experiences of its members during the period post-Sept. 11, the anthrax scares and the 1991 Gulf War, the DMA offers suggestions on how to tailor direct and interactive marketing during wartime:
on the job
October 06, 2003
In Job Ads, Say What You Mean, Mean What You Say Do your personnel ads begin with glowing testimonials to the success and stature of the firm? This may…
Ask the coach
October 06, 2003
Q: Our research department gathers intelligence for us about prospects we intend to approach. How much, and what type, info should we seek about prospects' current law firm relationships?
Happy Accidents
October 06, 2003
I was at home enjoying a 'Sopranos' DVD I had rented. After watching the episode, I scanned the special feature: an interview by film director Peter Bogdonavich,…
Marketing During Wartime
October 06, 2003
Periods of crisis tend to bring out the best and worst in people. From an institutional standpoint, this is one time when cooler heads need to prevail and stricter attention needs to be paid to the image your firm conveys to the outside world.On the other hand, some law firm marketers also view this period as a time of opportunity for reinforcing client relationships and building business in specialty areas.Gauge The Effect On Long-Term Strategic Plans And Implementation'I'm not familiar with any near-term impact of this war on any law firm's marketing programs,' Norm Rubenstein, partner of DC-based Zeughauser Group, says. 'Nothing has been canceled.'
Eight Keys to Mastering Visual Aids
October 06, 2003
'When the eyes say one thing, and the tongue another, a practiced man relies on the language of the first.' ' Ralph Waldo EmersonA powerful visual aid will set images floating in the minds of your listeners and leave a lasting impression far more effectively than words alone. Nonetheless, lawyers often fail to capitalize on the power of visual aids for a variety of reasons: they often design complex, intricate visual aids that clarify very little and often merely confound the audience; they fumble around during the presentation and create awkward pauses because they failed to practice their presentations using the visual aids; they do not position themselves and the visual aid for maximum impact because they are unfamiliar with the layout of the room; and they fail to carefully plan when and how they will use the visual aid to accentuate the message.
On the job
October 06, 2003
Legal Services Industry Still Offering Marketing Job OpportunitiesBy Russell LawsonWith this article, Marketing the Law Firm launches a regular column…
Ask the coach
October 06, 2003
Q: Our internal newsletter is not well received or widely read. It contains recent wins and case developments, lawyer speaking engagements and articles, and other recent events of note. How can I make it more popular?A: There are only four reasons that people don't read your newsletter: 1) they don't know about it; 2) they don't receive it; 3) the content doesn't interest them or is poorly written; 4) they don't care about the firm at all; they're just collecting a paycheck. You should be able to take care of the first two without too much difficulty; No. 4 can only be fixed by a good recruiter.
