Tag: lawfirms

Categories
Legal Fees

A Lawyer’s Perspective on All that Hourly Rate Nonsense

Pile of Euros coins.
Photo by Panos and Marenia Stavrinos from Pexels

“Our policy is to push the work down to the least expensive professional resource who can provide an excellent work product, and by doing so you get the best value for your money.”  

Said every partner in a law firm, ever. And they mean it when they say it. That is in fact their policy. And in theory, some day they will figure out how to manage their law firm so that they can consistently comply with that policy. Of course, there is a difference between theory and practice. For example, in theory communism works. Not so much in practice.

read more about the difference between theory and reality in legal bills “A Lawyer’s Perspective on All that Hourly Rate Nonsense”
Categories
Legal Fees

Estimates or Guesstimates?

Desks with computers and phones at a call centre.

Every time I phone a call centre for just about any company, it turns out that they are experiencing a higher volume of calls than anticipated, and although my call is important to them, they must keep me on hold for a very long time.  It really makes you wonder why, after all of this time, they have not yet started anticipating a higher volume of calls and hiring more staff. Especially since my call is so important to them. I know that something does not quite add up, even if I have not zeroed in on the exact problem. I suspect that it has something to do with them lying to me and my call not actually being all that important to them.

Read more about how bad lawyers are at estimating fees “Estimates or Guesstimates?”
Categories
The Practice of Law

Why Can’t You Make My Open-Heart Surgery Shorter?

A team of medical professionals performing surgery.

At my first firm, Eric was a client lawyer. He was not much for reading legal documents, but he knew how he wanted them to look, and that was short.

read more about why clients want short documents “Why Can’t You Make My Open-Heart Surgery Shorter?”
Categories
Firm Culture

Lamenting Never Having Found the Legal Dream Team

Sign saying "It Was All A Dream"
Photo by Nadi Lindsay from Pexels

You may have heard the saying that ‘If you owe a $100,000 to the Bank, you have a problem; but if you owe $100,000,000 to the Bank, the Bank has a problem.’ 

The first time that I saw this principle in action was in the case of a rather large company that became insolvent years ago. This company owed so much money and there was so little chance of any of it being recovered, that the Bank could not be bothered to spend the money required to shut it down, and no other creditor thought that it was worth their while to drive it into bankruptcy. So, the insolvent company kept sputtering along for quite a while.

read more about why great lawyers are often not appreciated in law firms “Lamenting Never Having Found the Legal Dream Team”
Categories
The Practice of Law

Let’s Pretend that the Closing Date is Realistic

Hand holding pen signing agreement.

My many years of practice taught me that clients usually want to close their transactions quickly. 

You would think that they would want to close when everyone involved has had the time to do the job properly, but that does not seem to be the case.  Apparently, ‘quickly’ is when deals have to close.  Now, in fairness, there is often a good reason to close a deal quickly. A business reason, or a tax reason, perhaps.  But, more often than not, the desire to close the deal quickly seems to constitute an independent, over-reaching, crucial goal.

read more about how lawyers are forced to fib about closing dates “Let’s Pretend that the Closing Date is Realistic”
Categories
The Mentality and Attitudes of Lawyers

Where Have All The Bullies Gone?

Sign that says "No Bully Zone"

We lawyers like to use definitions in our writing.  It makes the substance of the document easier to read because it allows the drafter to avoid repeating things or using terms in an inconsistent manner.  I am going to try that here, knowing that I may offend someone or other.

In this article, ‘marriage’ means a romantic relationship (whether or not having a sexual component) between any two or more people of any genders or without a gender, whether or not sanctified by a religious or civil ceremony of any type, and ‘spouse’ means any of the human beings who are involved in such a relationship.  I hope that I have included everyone, but I will not be surprised if I have not.  Frankly, I am having trouble keeping up.

read more about bullying in law firms “Where Have All The Bullies Gone?”
Categories
Legal Fees

Live and Die by the Immoral Sword

When I completed my Articles long ago, I was not hired back.  It was a time of economic recession and jobs were difficult to come by.  I sent out many application letters and eventually accepted an offer at a small suburban firm.  The day after I accepted the job, I received a phone call from one of Canada’s largest law firms offering me an interview.  I politely declined and said that I had already accepted a position.  A family member who will go unnamed thought that I was crazy, but I had given my word and I was not going to break it.

read more about collecting your bills in our business culture “Live and Die by the Immoral Sword”
Categories
Mental Health and Work/Life Balance

Game Over

Sign that says "Game Over"

I met Maria when she landed her first job as an associate at a medium sized law firm in the Toronto area.  She was capable, intelligent, and eager to learn.  However, just how hard lawyers work in law firms seemed to catch her by surprise. I guess that they don’t tell you about that in law school.

There is a steep learning curve in the area of law in which Maria commenced her practice.  A great deal of training takes place in the first year or two, after which a good associate will hit their stride and become downright useful.  Maria was a good associate.  She persevered and right on schedule as she approached her second anniversary at the firm, Maria was becoming downright productive.

As often seems to happen, just as she was becoming valuable to her firm, Maria chose to leave. She departed for greener pastures just shy of her third anniversary at the firm.

read more to find out who is laughing now “Game Over”
Categories
Mental Health and Work/Life Balance

Billings First, Babies Later

Woman in front of computer with her head down and holding cell phone over her head, indicating frustration

Some forty years ago, I knew a young lawyer in her third year of practice. My acquaintance had just given birth to her first child.  She took what was then considered to be a lengthy maternity leave of 6 months (3 months being standard) before returning to work at a mid-sized downtown Toronto law firm, where she was the only female associate in her department and one of only three female lawyers in the firm.  Having taken such a long maternity leave, the firm looked at her as a slacker.

read more about how nothing has changed for lawyers who are parents “Billings First, Babies Later”
Categories
People I Met Practicing Law

People I Met Practicing Law Episode Four: The Jerks

A wide-mouthed crocodile

Quite a few years ago, I really ticked off a lawyer at one of the major firms. 

It was the early 1990’s, someone had called a recession, and everyone had shown up.  This big firm lawyer was acting for a bank trying to put the squeeze on a delinquent debtor.  My client was the delinquent debtor.  The bank had screwed up.  They had given him 30 days notice to repay his operating line and bounced cheques that were within the credit limit the very same day that the notice was given.  That is a no-no.   

read more about lawyers who are jerks “People I Met Practicing Law Episode Four: The Jerks”