New York Pulse

Expert Analysis

• In-House Leaders Can Turn Contract Data Into Growth Insight

  A company's contracts contain final, negotiated commercial commitments that reveal important growth, revenue and strategy insights, but for organizations that aren’t making two key structural changes, the information tends to remain within the legal department — untranslated and unused, says Shimane Smith at NerdWallet.

• PE's Path In UK Legal Market Offers Playbook For US Firms

  The U.K. offers 14 years' worth of data on private equity's involvement in the legal market, demonstrating for U.S. firms what worked, what didn’t and why, and illustrating several lessons about operational readiness, cultural fit and timing, says Tom Lenfestey at The Law Practice Exchange.

• 8 Mistakes That Derail Law Firms' Sector Strategies

  When firms attempt to deliberately organize their expertise, client relationships, business development, and thought leadership around specific industry verticals – sometimes called industry sector programs – several missteps commonly arise, but with discipline and alignment any firm can successfully grab market share, say Heidi Gardner at Harvard Law School and David Harvey at Harvey Global Consulting.

• Making Legal Cents: A Strategic Plan For Lateral Partner Hires

  Firms of all sizes are accelerating lateral hiring of experienced partners because investing in senior expertise can pay off big — but for such an investment to work, firms need a disciplined strategy for vetting candidates, supporting their integration, and ensuring they'll generate real returns, says Shireen Hilal at Maior Strategic Consulting.

• As AI Rewrites BigLaw Hiring, Mid-Law May Snag Edge

  Similar to the way the transfer portal changed how many NCAA men’s basketball teams are built, artificial intelligence use in the legal industry is changing BigLaw’s lateral hiring market and creating a field where midmarket firms that develop their talent will hold an edge in the legal profession's next era, says Michael Ott at Ice Miller.

• 5 Firm Structure Changes To Adequately Address Atty Burnout

  While wellness programs, flexible schedules and mental health resources are meaningful steps toward addressing burnout in the legal industry, a more effective approach must involve a redesign of law firm incentive structures, says retired attorney Jason Ward.

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  Biz Development Tip Of The Month: Be An Industry Expert

  Although taking the time to fully invest in a client and its industry is a big ask, it is well worth it for attorneys to understand the pressures, trends and constraints of a client's industry in order to build enduring business relationships, says Nonnie Shivers at Ogletree.

• Talking Mental Health: Fostering Cultures Where Women Excel

  Sylvie Rodrigue at Torys discusses why authenticity is essential to women's career growth, why burnout is not the result of a lack of resilience, how the legal industry can better support women's mental health needs, and how firms can address gender gaps in senior roles.

• How Clients Can Make The Most Of Law Firm Partner Moves

  Outside counsel’s lateral career moves can create uncertainty and disruption for companies, but if managed strategically, in-house legal teams can leverage partner mobility for more complete service, better pricing and stronger relationships with their law firms, says Theodore Edelman at GCE Advisors.

• The Augmented Lawyer: Countering 4 AI Efficiency Myths

  Perceived efficiency gains from artificial intelligence can create unsustainable workload expectations for in-house legal departments, so general counsel must proactively educate executives, reframe assumptions and tie legal judgment to business outcomes, say Karineh Khachatourian at KXT Law and Catie Cambridge at Docsum.

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  Notes From A Partner-In-Charge On Lateral Hiring Strategy

  In regional recruiting, firms that stand out to laterals can articulate a clear vision that connects local insight with global opportunity, demonstrate a culture that is lived rather than stated, and offer genuine room for growth, says Jason Novak, leader of Norton Rose's San Francisco office.

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  Biz Development Tip Of The Month: Team Up With Marketing

  There are several ways attorneys can engage with resources already at their fingertips in the form of their in-house law firm marketing departments, which can help you gain some visibility, earn kudos and build a solid book of business, say Ada Kase and Liz Lindley at Jaffe PR.

• Biz Dev Impostor Syndrome May Actually Be Good Judgment

  Attributing lawyers’ sense of unease with business development to self-doubt or weakness may misidentify an important source of discomfort — a keen intuition that an ask isn’t yet appropriate for the relationship — and lead to advice that ultimately backfires, says Paul Manuele at PR Manuele Consulting.

• Ask A Mentor: How Can I Handle Unproductive Feedback?

  Maggie Potter at Segal McCambridge offers advice for associates who receive unproductive criticism from superiors and tips for gently pushing back with an eye to growth and efficiency.

• How To Prep As Private Equity Starts Investing In Law Firms

  Law firms eyeing legal services organization models, which allow outside capital to support nonlegal business functions while preserving lawyer ownership, can prepare for the expansion of private equity investment in the area by balancing commercial objectives and compliance imperatives, say attorneys at Rivkin Radler.