The following post originally appeared on Forbes | July 8, 2015 The credence nature of legal services has made “highly effective” legal consumption a notoriously difficult task. But the continually evolving major legal consumer is creating a much savvier, and therefore, more practical and scrutinizing evaluation process. While interpersonal skills and the quality of the relationship between parties are still important factors in the purchasing equation, legal consumers are increasingly able to make decisions based on practical utility as well. A major component […]
The following post originally appeared on Forbes | June 30, 2015 “If you want to make peace with your enemy, you have to work with your enemy. Then he becomes your partner.” Nelson Mandela In a Chicago court in 1879, Levy Mayer, a young Yale graduate argued over the sale of a lame horse, losing his case to self-taught Czech lawyer Adolf Kraus. Neither side liking the outcome, both appealed to a higher court, and settled the case two years […]
The following post originally appeared on Forbes | June 22, 2015 Last Monday – the 15th – password storage maker LastPass was hacked, exposing the email addresses and encrypted master passwords of its users. Last Tuesday – the 16th – in Congressional testimony, House Oversight Chairman, Jason Chaffetz, said that federal cybersecurity “stinks” in response to the governmental breach that happened earlier this month, exposing the personal information of millions of current, former, and prospective federal employees. Let’s not forget about the […]
The following post originally appeared on Forbes | June 15, 2015 “It takes time to build a really strong brand.” Jean-Noël Kapferer A strong brand is, no doubt, a highly sought after commodity. A known grease to the wheels of commerce, most-if-not-all institutions actively seek to establish their own. Many a upstart has lamented their lack of one, and through the greenest eyes of envy, imagine the worlds they would conquer if they just had the recognition of their industry’s oldest inhabitants. […]
The following post originally appeared on Forbes | June 9, 2015 Skadden, Arps, Slate, Meagher & Flom tops numerous league tables and rankings, set apart from other highly regarded firms by its success across many practices, in multiple industries, and around the globe. The breadth of Skadden’s capabilities sits in stark contrast to those elite firms whose skills are focused in select practice areas or regions. With approximately 400 partners and 23 offices, Skadden’s ability to maintain such a powerful […]
The following post originally appeared on Forbes | June 2, 2015 In 2002 the ABA revised their Model Rule of Professional Conduct 1.2(c) to formally allow for the unbundling of legal services: “A lawyer may limit the scope of the representation if the limitation is reasonable under the circumstances and the client gives informed consent.” In other words, law firms no longer had jurisdiction over all facets of legal work. It wasn’t until the Global Financial Crisis, however, that unbundling […]
The following post originally appeared on Forbes | May 19, 2015 He who knows others is wise; he who knows himself is enlightened. Lao Tzu In the increasingly bifurcated legal market where, from a higher perspective, firms are either pursuing globality with vast practice offerings or regionalization and/or specialization, it can be very dangerous to have a less-than thorough and critical understanding of your firm’s composition: Its strengths, weaknesses, appetites for risk and expansion, etc. Pursue globality without enough horsepower, and […]
The following post originally appeared on Forbes | May 11, 2015 Some folks like to get away, take a holiday from the neighborhood. Hop a flight to Miami Beach or to Hollywood. But I’m takin’ a Greyhound on the Hudson River line. I’m in a New York state of mind. Billy Joel – “New York State Of Mind” Though it never climbed to the top of the record charts, Billy Joel’s song “New York State of Mind” has become a […]
The following post originally appeared on Forbes | May 6, 2015 2004 saw the release of the music documentary Dig!, a film that follows and contrasts the careers of, and relationship between, two music bands. Though an interesting watch in and of itself, it also sheds some light (albeit anecdotal) on the rate of music band failure rates: 9 out of 10 bands that sign a record deal fail in their long term endeavors. Today, with the deluge of new […]
The following post originally appeared on Forbes | April 15, 2015 Rational adjective ra·tio·nal \ˈrash-nəl, ˈra-shə-nəl\ 1a. based on facts or reason and not on emotions or feelings. It is difficult to refute that sound business decisions require a rational approach: strategy, analysis, a long-term orientation, and logic, among other things. Yet, the last two decades of behavioral, social, and cognitive psychological research have systematically debunked the assumption of purely rational decision-making, and in the process, have given us a glimpse of the […]