Category: Management
News just hit that the iPhone has been hacked and unlocked! You weren’t supposed to be able to do this — guess what? A 17 year old kid did!
Terry L. Brock tells us the story of George Hotz of New Jersey and then extrapolates some principles from George’s persistence in breaking the iPhone code.
What will this mean for users? Ability to get to other phone companies, not just AT & T? Will this affect the privacy and confidentiality issues uppermost in conversation of lawyers? Will there still be an expectation of privacy when lawyers use the iPhone?
While the legal issues may be argued in court, the market place will make many decisions for users as well as Apple, the manufacturer.
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Many years ago, a good friend of mine said that the problem with aging is that we’re mired in history rather than focusing our perspective on today.
Thus, today’s article in The American Lawyer by David Brown may shock those of us who are over the age of 30!
He talks about the “paycheck report,” a survey of “mid-level” associate compensation. Associates’ paychecks exceed $200,000 per year and, in some instances, reach $350,000!
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Professional Legal Management Week is coming …. October 1 – 5.
Celebrate with your staff and those in your office who make it possible for you to focus your attention on the practice of law and the meaningful connection with your clients.
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At the ABA conference in San Francisco last week, I had the pleasure to moderate an outstanding panel of experts about the financial management of their firms and their “best practices.” The panel consisted of Bob Hirshon, CEO of Stoel Rives in Portland, OR (and former ABA president); Marcia Wasserman, COO of Nossaman Guthner Knox & Elliott; Larry Kleinberg, CFO of Munger Tolles & Olson; and Ron Yano, CFO of Loeb & Loeb.
Reid Trautz mentioned his observations from our panel:
“From a terrific panel of firm financial managers moderated by Ed Poll, comes these interesting ideas:
- Firms are taking advantage of the new check scanners offered by some banks to more quickly and securely deposit client checks.
- More firms are closing their billing on the 25th day of each month to get their bills into the “first of the month” billing cycle of clients–both businesses and individuals.
- Law firms are putting more pressure on partners to collect bills sooner (nothing new there!), but they are using automated e-mail and other added technology features now available in many time & billing programs to keep the pressure on, well, automatically!
- Larger firms are doing more to ensure that each new client matter has a signed representation letter or agreement before starting any work. This is a smart practice, and is just one area where large firms tend to lag behind smaller firms.”
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In a recent blog post, I suggested that it was o.k. for lawyers to seek profit. One justification that I didn’t suggest, however, becomes very clear when you look at state bars disciplinary reports: Clients’ trust accounts are invaded by economically marginal lawyers (exclude out and out theft from this discussion, a rare event). Thus, when we encourage lawyers to be business-wise, we are actually seeking to protect the public.
Being effective with clients, efficient in the delivery of services to clients and therefore more profitable, we are actually protecting the public by providing sufficient resources to the lawyer to feed his/her family and therefore have no need to invade the trust account funds.
To say that law is a business, a service business, is not to deny that it is also a profession rooted in the highest ideals from the very beginning of our country. (more…)
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Press Release:
Immediate Release July 26, 2007
Edward Poll, principal of LawBiz® Management Co., spoke at the Silicon Valley Chapter of the Association of Legal Administrators about disaster preparedness on Thursday, July 26th in San Jose, CA.
Poll, the author of the new publication, Disaster Preparedness & Recovery Planning for Law Firms: A LawBiz® Special Report, discussed ways to get law firms to plan for recovery in order to assure their business continuity in the event of an otherwise debilitating catastrophe, whether natural or man-made.
Poll said, “The issue for most of us isn’t if a disaster will occur, but rather when a disaster occurs, what should we do in order to recover quickly and effectively.”
In response to a question from the audience, Poll said “… that no recovery plan can succeed without the involvement and support of the top management of the law firm and all its stakeholders such as the principal lawyers, associates and staff.” Statistics show that only 30% of businesses hit with disaster survive after 5 years of the event.
Michael Hirsch, former FEMA Deputy General Counsel, said “This publication provides excellent guidance on how to develop plans to prepare for and respond to all types of catastrophes … Such planning can be critical to the ability to survive following such events.” The new book is the most comprehensive collection in one place of ideas to help plan for and then deal with a disaster when it occurs.
Michael Hirsch, continued “… I highly recommend it (this book) for attorneys and law firms as a basic document on how to be prepared to respond to and recover from disasters.”
Ed Poll is a leading authority in the field of law practice management and the Principal of LawBiz® Management Co., a firm that consults with and coaches lawyers and law firms throughout the United States, England, Australia and Mexico. Poll is a Board Approved (SAC®) Coach to the Legal Profession, and a charter member of the Million Dollar Consultant’s™ Hall of Fame.
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Disaster Preparedness is Focus of New LawBiz Special Report
Contact: Ed Poll
800-837-5880
edpoll@lawbiz.com
Immediate Release July 24, 2007
Edward Poll, principal of LawBiz® Management Co., announces the publication of Disaster Preparedness & Recovery Planning for Law Firms: A LawBiz® Special Report. This third in a series of Special Reports on topics of practical and major importance to the effective and profitable management of The Business of Law®, has just been released.
Disaster Preparedness & Recovery Planning for Law Firms: A LawBiz® Special Report offers guidelines on how lawyers and law firms can prepare to minimize the debilitating impact that disasters of all kinds can have on their law practices and the clients they represent. The issue for most of us isn’t if a disaster will occur, but rather when a disaster occurs, what should we do in order to recover quickly and effectively.
Topics covered include first defining “disaster,” then creating a plan that deals with the various types of disaster that might befall us including fire, earthquake, burst water pipes and, yes, even planes crashing into our buildings. This new book also deals with insurance, financial planning, data recovery and, most importantly, personnel (our “human capital”) planning, among other topics.
Michael Hirsch, former FEMA Deputy General Counsel, said “… I highly recommend it (this book) for attorneys and law firms as a basic document on how to be prepared to respond to and recover from disasters.”
Tom Edwards, Executive Director of Munger, Tolles & Olson LLP, said “… Ed is the primary architect for my colleagues’ and my firm’s disaster recovery plans and he was, is, and remains a driving force behind our plans.”
“With our first Special Report on Business Competency for Lawyers, LawBiz® began a new kind of book,” Poll states. “ The content is practical yet sophisticated, and provides basics for managing and running a successful law business. This new book is the third in this series.”
Ed Poll is a leading authority in the field of law practice management and the Principal of LawBiz® Management Co., a firm that consults with and coaches lawyers and law firms throughout the United States, England, Australia and Mexico. Poll is a Board Approved (SAC®) Coach to the Legal Profession, and a charter member of the Million Dollar Consultant’s™ Hall of Fame.
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Don’t leave value to an unknown in your firm. (more…)
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The vast majority of lawyers who manage their law firm, whether it be only a few lawyers or the gigantic many hundreds of lawyers firm ("BigLaw"), still bill many hours and don’t get paid for also taking on the role of "managing partner." (more…)
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