An important element of a law firm’s culture is the manner in which it designates ‘client lawyer’ status, or ‘client origination credits’ (“OCs”).
By way of background, there are three ways to earn money in a law firm.
Let me tell you about two different law firms.
Big Law Group One is a well-respected Canadian firm with many hundreds of lawyers, some of whom appear to be happier than others. Some of their dearly departed professionals have told me distressing stories about their lives at that firm, and the effect that the work demands had on their mental health. They also shared with me their feeling that the firm let them down when they required accommodation to recover from their mental health problems. They painted a picture of a firm which did not care much about its people, especially after those people became unable or unwilling to continue to sacrifice their health on the altar of billable hours.
Those of my era may remember the comic book character known as “Richie Rich.” Nice little kid, but being brought up by wealthy parents, he was not on the same wavelength as some of his friends.
My friend Stan had a law partner who was kind of like a wannabe Richie Rich. He wasn’t rich yet, but by God he planned to be!
I was the managing partner of a law firm for a while. At that time I saw myself as being something like Cassandra, who the Gods punished by giving her the ability to foresee the future while dooming her to never be believed. I used to try my best to convince my partners to see things my way. After all, I knew how things were going to turn out if they did not listen to me. Not only did some of them not listen, but they actively tried to subvert the things that I was doing for their benefit.
Sometimes I meet a young lawyer whose career goal is to work in Big Law. That path might not be my first choice, but as long as they know what they are getting into, they should go for it. This article is not about those folks.
“Work hard, earn a great living, get whatever you want out of life, have all the stuff you want. But there should be a ceiling on it-enough is enough!”
~ Sandy Duncan
I used to think that I was a fairly sophisticated guy. I got me an education. I was a partner in a law firm. I advised some successful clients. But since I retired, moved to the country, and bought a pick-up truck, I have been rethinking some things and I realize that perhaps I am, and have always been, more of an Okie from Muskogee, or in Canadian terms, a hick from Temiskaming. And I am happy to be one.
“Estimating is what you do when you don’t know.”
~ Sherman Kent
A young lawyer named Eve called me today. She had made the same mistake that I made numerous times in my first few years of practice. She had quoted an hourly rate for reviewing and reporting on a draft agreement without providing an estimate, and then issued a bill for her time.
The client said that the bill was too high. Never in his wildest imagination had he contemplated that the job would take that much time. He did not want to pay.
Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.
~ Stephen Covey
A Canadian grocery chain has just announced that it will launch a new brand to sell low-priced groceries in Canada. Their announcement is being greeted with great skepticism. The reason? Canadians do not trust them. It could be because we just do not buy it when their CEO says that their increased profits have nothing to do with their increased prices.
Click here to read about why your future success as a lawyer will depend on you being able and willing to keep up as technology changes:
I don’t consider myself a pessimist. I think of a pessimist as someone who is waiting for it to rain. And I feel soaked to the skin.
~ Leonard Cohen
I have a friend who is a Dermatologist. I will call him Howard. Howard knows a great deal about skin cancer, so he worries about contracting skin cancer. He wears long pants, long-sleeved shirts, and a hat all summer, and covers any exposed areas with sunblock. Some say that Howard is obsessive about that.