Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am a solo practitioner in Southern Missouri. I have been in practice for 20 years. I have a very successful practice with an excellent client base. I have three paralegals that I am able to keep busy. I have recently been thinking about whether I should consider joining another law firm. What should I be thinking about and what should I be looking for?
A. I believe that the key question is - can a law firm offer its lawyers a measure of value independent of the skills, talents, and contributions of its partners? The answer can only be answered by recalling the advantages that the best law firms have over sole practitioners or groups of lawyers who share overhead and nothing more.
Practice News
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March 23, 2011 |
Practice News
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March 21, 2011 |
Practice News
The Illinois Supreme Court has announced the filing of disciplinary orders involving a number of licensed lawyers. Sanctions were imposed because the lawyers engaged in professional misconduct by violating state ethics law. More information on each case is available at the ARDC website.
DISBARRED
- Harry E. Defrouneau, Markham
SUSPENDED
- Maurice Joseph Barry, Jr., Normal
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March 16, 2011 |
Practice News
In the latest ISBA Family Law newsletter, Roza Gossage reminds her fellow family law section members that "income" is more than just a child support obligor's regular paycheck, at least for purposes of determining how much the obligor owes. It can include gifts, investments, royalties, and just about anything else the obligor gets by way of payment, not just what he or she earns. "The Illinois statute relating to income is one of inclusion and not a differentiation or exclusion of the types of income," Gossage writes. "This is consistent with Illinois public policy of maximizing child support awards." She backs up her argument with a review of the cases.
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March 16, 2011 |
Practice News
Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. We are a 21 attorney firm in San Francisco. Recently we have been considering overhauling our partner compensation in order to foster leadership and more of a team environment. Currently many of our partners are operating and functioning as if they are in separate law firms rather than part of a firm. What are your thoughts? A. With thinner profit margins, firms can no longer carry unproductive partners. Law firms are demanding more from their partners and asking everyone to think outside the box to help the firm innovate for the future and obtain/retain a competitive advantage. This has renewed discussion and debate on the topic of partner compensation and in particular whether compensation can make a difference in motivation, actual performance, and contribution. We are receiving many more inquiries from firms looking to overhaul and redesign their partner compensation systems. Based upon these inquiries we believe that many firms are expecting miracles from their compensation systems and are asking and expecting more than they will ever be able to accomplish. They are not just seeking to align pay with performance – but have far higher expectations.
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March 15, 2011 |
Practice News
The Illinois Supreme Court announced Tuesday that it has recalled retired Appellate Court Justice Robert W. Cook and assigned him to the Fourth Judicial District Appellate Court to fill the vacancy created by the resignation of the Hon. Sue E. Myerscough upon her appointment as a federal district judge for the Central District of Illinois. His assignment will be effective April 1, 2011 and will terminate on December 3, 2012. Appellate Justice Cook graduated from the University of Illinois with a B.A. degree in History. He received his juris doctor degree from the University of Illinois College of Law in 1967. After graduation, he entered the United States Marine Corps as a captain, serving with the Judge Advocate General from 1967 to 1970, and in Vietnam from 1969 to1970. Before his initial appointment to the bench, Appellate Justice Cook worked as an attorney with the law firm of Schmiedeskamp, Robertson, Neu & Mitchell in Quincy from 1970-1981. From 1983 to 1991, Appellate Justice Cook served as a Circuit Court Judge in Adams County. He was appointed to the Fourth Judicial District Appellate Court in 1991. He was subsequently elected in 1994 and was retained in 2004. The Fourth Judicial District is comprised of 30 counties across central Illinois. Those counties are: Adams, Pike, Calhoun, Schuyler, Brown, Scott, Greene, Jersey, Macoupin, Morgan, Cass, Mason, Menard, Sangamon, Logan, DeWitt, Macon, Piatt, Moultrie, McLean, Woodford, Livingston, Ford, Champaign, Douglas, Coles, Cumberland, Clark, Edgar and Vermilion.
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March 10, 2011 |
Practice News
Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. We have 14 attorneys in our firm and we are located in Indianapolis. A couple of weeks ago in a partner meeting we discussed hiring an additional associate attorney or two. A couple of our partners are concerned whether we have ample work on day one to keep an associate busy. Is there an optimal time to hire additional lawyers? A. I believe that it is important for firms to remember that they are competing in two markets - a market for clients and a market for talent. Firms must be competitive in both areas and sometimes there is not direct alignment. In other words - you may identify an excellent attorney or staff candidate sooner than you may have wanted to hire someone. What then? Will it pay for itself? Many years ago when I worked in a law firm the managing partner came to me and said - "are you free for lunch today - I want us to interview a lawyer that is interested in a position with our firm." I responded - "I didn't know we were looking to hire anyone." The managing partner responded "I am always looking for good talent and am willing to made an investment when I see quality talent - my motto is hire and retain quality talent - and market harder if we must to generate the revenue to pay the overhead - the money will come." Obviously cash flow and financial concerns must be taken into considerations. However, many law firms are sometimes too cautious and timid when it comes to make investments - and investment in top notch talent is one of the best investments that law firms can make. Successful firms maintain surplus talent.
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March 9, 2011 |
Practice News
"We’ve all had those cases where the driver refuses something—denies drinking, refuses field sobriety tests, or refuses blood, breath or urine tests," writes Don Ramsell in the latest ISBA Traffic Laws and Courts newsletter. "When the case is set for a jury trial, how do we answer the age-old prosecutorial argument that 'refusal equals consciousness of guilt'?" How? Don tells you how.
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March 4, 2011 |
Practice News
The Illinois Supreme Court announced today that the 22nd Judicial Circuit judges voted to select Mark R. Gerhardt as an associate judge of the 22nd Judicial Circuit. Mr. Gerhardt received his undergraduate degree in 1990 from the University of Illinois and his Juris Doctor in 1995 from The John Marshall Law School. Mr. Gerhardt is currently affiliated with Wiejaczka Law, PC, in Hawthorn Woods.
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March 2, 2011 |
Practice News
Businesses are only as good as their people, but recruiting employees and letting them go are both fraught with legal pitfalls. In the March Illinois Bar Journal, employment lawyers explain how you can help your clients and your own firm avoid HR missteps.
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March 2, 2011 |
Practice News
Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. I was just elected as our firm's managing partner. I will still maintain a full client practice as well. We have a total of 14 attorneys, nine of which are partners. I will be the firm's first managing partner. Previously we all weighed in on every single decision. While I have been a practicing attorney for 20 years, I have no prior management experience in law firms or elsewhere. What skills will I need to develop to be effective in this job? A. Congratulations on your new role! Effective law firm managing partners:
- Ask - what needs to be done.
- Ask - what is right for the firm.
- Develop and implement action plans.
- Take responsibility for their decisions.
- Take responsibility to communicating.
- Focus on opportunities rather than problems.
- Run productive meetings.
- Think and say we rather than I.
- Are "Firm First" focused rather than Lone Rangers "Me First" focused.
- Know that you have to spend money to make money and encourages the firm to invest in the firm's future.