How Can A Law Firm Can Become The "Go To"Law Firm ?
I am always asked by my younger colleagues how GCs pick law firms when deciding which law firms to use. Most GCs actually pick lawyers , not just law firms, when retaining outside counsel, but it is important that the law firm is also a firm the GC likes and respects. If the GC likes and respects the firm, the odds are that the law firm is the firm the GC most likley will pick to hanlde a major problem or case. (more…)
It was thirty years ago today when I landed in South Korea for the first time to start a new adventure- working in house for one of the largest multinationals in Korea- Samsung! Looking back, because of this move I have been blessed with a long and very interesting life and career. (more…)
Not too long ago, when you asked someone in the U.S. about Korea, all they thought of was MASH. To them, Korea was a poor, underdeveloped country in the throws of a civil war, or a poor country just coming out of a civil war. That is actually far from the truth. In the past 30 years, Korean has undergone a transformation from a poor country to a developed one. (more…)
In international business it pays to appreciate other cultures or as I say- dont soak in a hot tub without bathing first! .......I was in the sauna the other day. Koreans like Japanese (and me) like to go to the sauna on regular basis to bathe, soak, bake and perspire. Though Koreans may not have a water culture that is identical to the Japanese, they do have a sauna culture with jimjilbangs and mogyoktangs on almost every block. When Korea was digging out of the rubble of the Korean war, it was hard for them to get hot water, etc. So they started going to saunas on a regular basis.
So, while I was in a local sauna, soaking away in one of the many hot tubs (they have cold tubs too) I noticed what looked like an American or European walking in. I thought he was an American as the area I was in caters to foreigners especially those from the US, etc. What surprised me was the person I noticed coming in (in Korea all saunas are separate sex saunas as Korea is a rather conservative society) just plopped into the nearest hot tub without bathing! In Korea like Japan, the bathing etiquette requires one bathe and wash oneself prior to jumping in a hot tub. The hot tub is there to soak in- not bathe in. I think he must have noticed the dirty looks he got from people including me, but it didn’t matter. He obviously didn’t look at the signs posted at the entrance of the sauna reminding everyone to wash prior to using the hot tubs. No-he just continued to soak – upsetting those around him. He forgot the main rule of international travel and business- to honor the customs and culture of the society you do business in. Being culturally aware when you travel to other countries is very important.
Obviously, when doing business in a different country than your own you need to be aware of local laws that may impact your deal. You also need to be aware of local customs, culture, language and etiquette. Is it proper to give your host (or his wife) a gift? Is it proper to go out to tea or coffee with your host prior to having that initial business meeting? Is it proper to disregard local religions and customs? Should you use an interpreter? The list is endless. It means you need to place emphasis on cross cultural issues. Likewise, your host, or the local law firm that is advising you on local legal issues must also be sensitive to your culture, as both parties must make an attempt to understand each other prior to trying to do a deal.
Remember, culture will determine how companies or organizations and their negotiators look at or perceive negotiations or business deals. Some cultures or countries will look at things differently than other groups or countries. Some cultures will look at the future differently, or will value compromise differently. Some societies promote problem solving while others promote individualistic goals with little concern for the other side. Negotiating with other countries or cultures can lead to a clash of values, disagreements over the meaning of words, confusion over inaction or action, and of course failed negotiations. That is why not only communications across culture is difficult but why language itself is key in international communications. Having a good grasp of your counterpart's language and culture may determine success or failure. Knowledge of one’s counterpart or customer’s culture language in an international setting is very important for many reasons. For example, it helps avoid the potential for miscommunication, confusion and misunderstanding of issues.
So before you rush off to a foreign land remember to become cross-culturally aware. Study the culture and language if possible. Understand your surroundings. And above all else- dont soak in a hot tub without bathing first!
LAWYERS MUST MARKET THEMSELVES TOO-LIKE IT OR NOT ITS ALL ABOUT MARKETING…
Looking at the Christmas and holiday signs I am reminded that 2015 is almost over. Everyone is busy preparing for a new year of client meetings or thinking about new sales targets. A new year of meeting or exceeding goals and of course increasing revenue. The trouble is that some divisions within a company (excluding sales and marketing of course) fail to think about their organization in terms of marketing. However, even departments, such as the legal department or compliance department, must market themselves within a company, and even sometimes outside of the company itself. Why? Its all about resources. Unless, you properly market yourself, you may not get access to resources that departments or divisions such as sales and marketing have. If an in house law department doesn’t market its needs properly to its favorite law firms, those firms may opt to devote the law firm’s scarce resources to other clients. This means the company may get the law firm's B team or the C team instead of the A team. It may not get the quality legal representation that you want.
Law firms must think about marketing as well. If law firms fail to properly market themselves- they may not get the chance to use their A team as corporations may use other more well known firms. Marketing is becoming more important for those involved in the legal profession. Its not just providing a legal opinion or drafting a contract that lawyers must concern themsleves with. The practice of law, like any other profession is in fact a business. And like any other business, marketing is very important.
So, in terms of a law firm or even an in house law department what does marketing entail? First, the law firm or practice groups within a law firm ( or even an in house law department ) should ask a series of questions including:
1.What goals has the law firm set for the coming year if any?
2. What resources does the law firm or law department need to meet the goals it has set for the following year?
3.What budget processes must the General Counsel go through? Normally, a law department must think about 2 budgets- its budget and the company’s ( its client) overall budget.
4.What are the true legal/business needs of the company?
5.How can the law department add to the bottom line?
6. What can the law firm do to add to its clients' bottom line- or how can it add value to its clients?
7.What marketing budget does the law firm need?
8. How can the law firm distinguish itself from its competitors via marketing?
Those in house lawyers new to an in house setting might be shocked to realize they are in a sense expected to be more than just a lawyer - but also a trusted business partner/advisor. They are expected to understand internal corporate processes and not just basic legal theories or doctrine. They are expected to know how to interface with the business units, and yes, to know how to properly support them. Lawyers in law firms are usually specialists in a narrow area of law. They are supposed to be able to give expert legal advice on certain narrow topics whether it is tax, product liability, civil litigation, etc. But they don’t know the inner workings of a company! In house lawyers, if they do their job correctly, are not only aware of the big picture but also familiar with implementing processes and procedures within the company. In other words, how to make things work. So, for those in house lawyers out there - what have you done to ensure you have adequate resources in 2016 to protect your client? When considering the law department budget of even the compliance budget remember you need resources to make things happen. You therefore need the support of not only upper management but mid- level management as well. Are managers inviting you to their meetings? If not, it may be hard to learn about the major issues facing the company. Do employees understand the role of the law department or compliance department? If not, steps need to be taken to provide sufficient training and support. So think about marketing legal or compliance within the organization. Here are some practical steps for in house law departments:
1.Market your compliance department to employees. Hold introductory training sessions within the organization. Offer little gifts or tokens so the employees remember the compliance department. Make certain they remember your processes.
2.Market the law department to management. Every month send out a top ten list to upper management and your division managers on what legal issues you resolved or handled that helped the organization. Sales and marketing managers may not be aware that legal just handled a serious legal/business matter that saved the bottom line and yes, maybe even the company.
3.Hold lunches with senior managers on a regular basis. Once they are comfortable with you they will open up. That’s when you hear about how efficient the law department or compliance department is perceived and why. Or of course, you may hear about the perceived problems with the law department or compliance department which will then give you a chance to correct such perceptions.
Remember, just because legal or compliance is in most cases not a profit center does not mean you doesn’t have to worry about the bottom line. In order for legal or compliance to do its job properly, it needs resources. Which is why you must also think about marketing your services within the company. Management as well as the company's employees should realize the importance of your function and should want your department to succeed.
As for law firms- marketing is very important too! What have you done to prepare for 2016? Does your clients know about your new practice groups or new capabilities? Has your marketing department gotten ionvolved?
As 2015 winds down, everyone starts to think about 2016. They make grandiose plans that perhaps they cannot keep or are simply to agressive in their planning. Managing risks, like many other business processes takes planning and careful consideration. (more…)
