Can Your Firm Serve Small Clients Profitably?
January 27, 2005
In one chapter of his 2004 book, <i>The First Myth of Legal Management is that It Exists</i>, Ed Wesemann argues that small clients disproportionately drain the resources of law firms while providing a disproportionately small contribution to firm profits. He proposes ways to help firms focus on serving larger clients, while also improving the profitability of small clients who stay with the firm.
Dealing with the SEC's 'Up-the-Ladder' Reporting Requirements
January 26, 2005
The provision of Sarbanes-Oxley (SOX) that sets out the gatekeeper role for lawyers, Section 307, requires that lawyers report "up the ladder" (that is, to senior management and, ultimately, to the audit committee or the full board of directors) evidence of certain violations of the securities laws and breaches of fiduciary duties. While the SEC's rules implementing Section 307 became effective in August 2003, there remains much ambiguity in how the SEC plans to enforce them.
Media & Communications Corner: <b>How To Make The Most Of A Stale News Story</b>
December 27, 2004
All marketing directors have experienced it. They receive an e-mail that describes a terrific deal closed or case "just" won by an attorney at the firm. The attorney requests a press release and a full-blown public relations push to all media outlets. But curiously, nowhere in the e-mail does the attorney mention when the big case or deal happened. As it turns out, it is because it happened more than a month ago and, since the client did its own press release immediately after the fact, every media outlet known to man covered it then. So how can a marketing director say no, without actually saying it? The dilemma is that you cannot send the release to the media again, weeks after the fact, but you don't want to tell the attorney that he or she has no options either. So here are some suggestions of how to make the most of old news.
Why Mediation Works
December 27, 2004
In mediation, a trained third-party neutral is selected by the parties (or appointed by a tribunal) to assist the parties in resolving their dispute. Mediators may be members of a panel, are associated with a dispute resolution organization, or have a private mediation practice. Mediators serve pursuant to written mediation agreements that provide for confidentiality of the process, and outline the procedure that will be used in the mediation session. The hallmark of mediation is that the mediator meets with both sides, in joint and separate caucuses, and guides the parties through exchange of information and exploration of interests and positions in a confidential setting with the goal of enabling the parties to reach agreement themselves.
Media & Communications Corner <b>Media Relations: A Look Back and A Look Forward</b>
December 07, 2004
It continues to be a great pleasure for the media relations professionals at Jaffe Associates to contribute our viewpoints on the publicity issues and trends that all of you face each day. Since becoming regular columnists for <i>Marketing the Law Firm</i>, we have covered a number of topics that we hope have been educational and even inspirational. Here, we take a look back at these columns and tell you some of next year's topics.
The Year in Review: Our Look Back and Look Forward
December 07, 2004
The year 2004 has been my first full year as Editor-in-Chief of this publication. While there have been challenges, there have also been some rewards. So, sit back, relax and enjoy the first half of 2004 as I present to you selected highlights of <i>Marketing the Law Firm</i> for the months January through June.
Counsel Concerns
November 29, 2004
Issues in serving as a lawyer in the entertainment industry. This month:<br>A federal district court in Manhattan sanctioned a lawyer and his client for pursuing in bad faith claims against the company that holds the rights to the work of Edgar Rice Burroughs, the creator of Tarzan.
Strategically Manage Occupancy Costs to Increase Law Firm Profitability
November 05, 2004
Aside from payroll, real estate costs are a large law firm's most significant expense. Even under the best circumstances, such expenditures — sometimes called occupancy costs — consume 8% to 10% of the typical large firm's annual revenue. These costs are not confined to rent; many firms finance millions of dollars worth of expenses associated with the construction of their space.
