Lawyers and the Economy Crisis

The worldwide economy crisis is now a reality. All countries are suffering the effects, one more than others and no sector or industry is not shielded against it.

In my particular field of expertise, lawyers and law firms are taking different actions in respect with this particular issue. Without doing a deep analysis on those actions, here are some of them for you to comment on.

1. Some lawyers and law firms are either freezing it´s fees or are suspending the annual fee increases plans; at least for some good loyal clients, that is.

2. There are some law firms that are limiting partner promotions or at least increasing the eligibility requirements. 

3. Others instead are looking for alternatives in producing a constant level of income. This could be done by entering in "Monthly Fixed Services", in which clients pay a fixed monthly fee and receive certain legal services (instead of getting billed "by the hour"".

The key issue is knowing what services to include and what not to.

4. And finally, there are some fewer firms taking advantage of this crisis and are recluting lawyers from other struggling law firms for a lesser value than before.

What are you or your firm doing to confront the crisis?.

What type of lawyer are you?

In this occasion, rather than present you with any articles or news from the legal environment in the Dominican Republic, I´ll take this opportunity to learn your thoughts on these simple but tricky questions..... trying to relax a little!

1. Have you ever had to enforce a clause in a contract you have had to object before?. I was in such a situation, when I represented one client wishing to enforce a similar clause that I tried to object in a previous matter (different clients) from the other side of the desk. 

2. How do you know when it´s time to step up and leave a negotiation room? Are you like the ones that ask high to settle low or you just give the only option up front? Have you ever left a negotiation to reposition your client?

3. When drafting a contract, should you include what you expect the other party to have included or you just leave it to them to ask for it?. Sadly in my country there is plenty of the latter, although personally I try to be ethical about and include what I want plus what I can give.... it doesn't always work though.

Any thoughts? have any stories to tell....Please share them with us.

Lawyers are not exempt to change

"Change is the only constant", we were told since the begining of our education.

Lawyers are not the exception of the ever changing business environment and that´s why our clients needs and requests usually are as different and evolving as the markets.

Lawyers are supposed to be able to evolve with their clients, of course without safeguarding expertise and risking the integrity of the representation by going in unknown waters just to get the account.

It´s a matter of being able to rightly help your client without failing at your personal commitment with excellence, integrity and professionalism.

It´s a matter of using the general knowledge you have in a certain matter and valuing it as sufficient or not to undertake a more deep look into it.

And also, it´s a matter of being humble enough to recognize your own limitations and to get another hand.

Would like to know your opinions.

Lawyers, Clients, Techonology and how to keep the perspective

In this information era where the internet and the ever changing technologies opens a door to a more interactive, effective and dynamic business world, legal practices are not the exception, but be aware it is a resource not the source.

Internet, document sharing, virtual conferences, and all the other tools, have given law practices a new dimension on clients service. The ability to share documents drafts, information, court decisions, articles and a lot more is making the job of the lawyers less time consuming and a lot speedier. As for the clients, specially the international corporations with branches or interests in different countries and regions, it gives them the chance to unify the legal services rendered to them, under the same "practice standards" in the various jurisdictions.

Nevertheless, there are some things we lawyers must keep in mind, to avoid becoming a burden to our clients. There are a few of them:

1. Technology is a resource not a substitute for the intellectual job of the lawyers. No matter how much technology you have available, it's your personal capacity that would take you above the rest.
2. A direct personal approach with the clients is always the best way to get, keep and multiply your clients.
3. Documents drafts, articles and other "downloads" are merely a reference point instead of the solution to your clients needs. We've been told ever since law school that two cases are never exactly the same, each case or issue is of its own and must be approached as an entity itself.
4. Don't rely only on technology to fulfill your duties. Law Libraries (on site, public, etc.) are the best place to get back in touch with "your real lawyer inside".
5. Time is of the essence when it comes to your clients needs and unnecessary phone calls are to be avoided, but nevertheless, a periodic voice to voice conversation will have a bigger impact than a daily email. The confidence your client would get by hearing your words are not the same as when reading them.

Do not by any means become technology dependent. Don't loose the ability to draft a contract or any other documents for that matter. Don't hesitate to sit down in a library table instead of making a quick search on the internet.

The quality of the service the client gets will make you or brake you, but your quality as a lawyer will too. No matter what some people thinks, clients don't hire law firms...they hire lawyers: they need to put a face on the name, a name for the "speed dial" and most of all, someone to relate with.

At the end, technology is good for all businesses, including law firms and lawyers, but as I said it's just a resource and not the source.

Are Dot Coms are sellers since Day 1?

The constant buy-ins of "dot coms" and other internet related companies by the biggest players could impact the mentality of the future companies to come and would demand a better drafting of some legal documents.

By the constant practice of the biggest internet companies (Google, Yahoo, etc..) to acquire smaller companies, one can only wonder if it will become a philosophy of some business mens or entrepreneurs to develop a "dot com" and/or internet related companies, with the sole purpose of selling it after certain point. I'm sure there will be cases where the creators of some of these business will take it as a personal project and won't sell, but that cannot be said of most of the actual businesses.Looking at this trend as a practicing lawyer, this is having a clear impact on drafting of business agreements between shareholders and partners. We (lawyers) need to make sure that our clients interests are properly protected "if" the company should come to a "sell or not" situation. This should include not only the Bylaws but also a shareholders agreement is recommended. Special Majorities, quorums, preemptive rights and other issues must be clearly addressed.

(This analisis was published by me on 4/16/07, in the GLG News Forum in respect with Google's acquisition of DoubleClick)

What the Clients expect from a Outside Counsel

I wish to share some ideas of what a client expect from an outside counsel. Please make an exam of yourself in each of these points and make a commitment to improve the needed areas. It will help us be better lawyers. What a clients expect in a Lawyer:

1. Technical competence

2. Local knowledge

3. Able to really listen to the client and asking the right questions

4. Respect the clients time. Don’t make unnecessary calls if you’re following it with an email or letter with same content.

5. Clearly state on the mail or letter if an action o decision is needed from your client

6. When sending emails, use explicit “subject” lines. Avoid using just “Contract” or “Pending Litigation”. Probably your client has more than your “Contract” or “Pending Litigation”.
7. When making an analysis:
- report the case
- make an assessment
- indicate the options
- make a recommendation
- be sure to indicate when a decision is to be made

8. Always return your clients mails and messages

9. Respond promptly and honestly about the merits of the case. Clearly state the probabilities of winning, cost involved and what is to be expected in 30, 60 and 90 days.

10. Use plain language when making a report for a client. Keep the complex legal language for the courts.

These notes where part of a presentation during the International Lawyer Network 2007 Regional Meeting that took place last month on the Bahamas.

Welcome

Welcome to my blog. I plan for this blog to serve as an all purpose law related blog. So I'll be posting legal news, comments and notes. Please feel free to comment and send me your opinions and your own news and notes.