I recently authored an article about law firm compensation systems, lamenting how they are usually laser-focused on billable hours and business brought in, but not so much on all of the other skills required to build a great firm. Of course, there is a great deal of lip service paid to the so called ‘soft factors,’ but the conversion rate of lip service to cash for ‘soft factors’ is not particularly great.
I met Paul at my very first job as a lawyer. Paul was a commercial real estate lawyer. He was hard-working and extremely capable. Paul thought quite a bit of himself and other people who he considered to be intelligent and diligent. However, Paul did not suffer fools gladly.
I was born and raised in Montreal. I started my legal education at the Faculty of Law at McGill in 1975. My plan was to obtain my Bachelor of Civil Law and practice law in Quebec.
In 1976, the Parti Quebecois was elected in Quebec for the first time. As an Anglo in Quebec, I thought that it was a good idea to also obtain a common law degree so that I could get the hell out of Quebec should the need arise.
Many years ago, the managing partner of my firm, who I will call Sid because that was his name, had on his desk a replica of a dogsled with a team of dogs in single file. There was a pithy saying attached to the sled which read, “if you are not the lead dog, the scenery never changes.” Think about that for a minute. No, I mean really think about it. Take a moment to focus on exactly what every dog following the lead dog had to look at for the entire trip.
I practiced business law for 40 years. I never knew much about criminal law. In fact, I knew so little about the subject that I used to tell my clients that if they got arrested, they probably should not use their one phone call to call me because all that I could do for them in their hour of need would be to incorporate a company.
Due to popular demand (I have now asked myself to do this ten times) and as a continued public service, I am providing some more translations from Legal Talk to Plain English.
Those who know me would not be surprised to learn that I think that I was a brilliant supervising lawyer and mentor. Not necessarily because I was, but because I had a fairly high opinion of my own skill set. Many of us lawyers do. Not all of us are right, although I am.
I was once hired by a dentist to help him disassociate from his partner. I will refer to my client as the “Good Dentist” and to his partner as the “Dentist from Hell.”
I expect that “honest” would not be the first word that comes to mind as a general description of the business culture in Canada, or anywhere else for that matter. The idea of “buyer beware” (or “caveat emptor” as we lawyers like to say) is well ingrained in our business culture, and we all expect businesses to create “spin” when they market their goods and services.
Years ago, a young person I know was quite proud to show me his first credit card. I was underwhelmed and said: “Big deal. Anyone can get a credit card with their own name on it. The trick is to get a credit card with someone else’s name on it.”
I was reminded of that incident recently when I got a notice in the mail from a major insolvency firm telling me that a fund which I had unwisely invested in was insolvent, the insolvency firm had been appointed as the receiver, and a large law firm has been appointed as ‘representative counsel.’ Now I had reason to worry that all was lost.