Articles

ABA Antitrust Immunity? Not so fast

Hallelujah! A profession just lost a very big round at the Supreme Court. I refer of course to the Court’s 6-3 ruling in North Carolina State Board of Dental Examiners v. FTC, finding that the dental examiners’ board attempting to prohibit nondentists from teeth whitening violated the Sherman Antitrust Act. If you think this was
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Articles, Business Models, Finance, Globalization, Strategy

Can Big Firms Innovate?

“Innovation” seems to be on everyone’s lips these days. Among other things, the problems are: Many people, lawyers in particular, are stumped when it comes to describing what “innovation” actually is; Business history proves to a fare-thee-well that it’s extremely challenging for successful incumbents to actually follow through with anything innovative; And of course there’s
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Articles, Cultural Considerations, Finance, Leadership, Strategy, Technology strategy

“Converge” Conference/NYC

If you haven’t yet heard about Above the Law‘s “Converge” conference coming up here in NYC on Wednesday, March 18th, you’re about to. It’s a full-day conference at the marvelous University Club (Fifth @ 54th, McKim, Mead and White, 1900) designed to “help lawyers navigate emerging trends in media and technology.” Highlights include: Keynote by
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Articles, Just Plain Interesting, Marketing, Technology strategy

Meaning in Your Career

Here at Adam Smith, Esq., we cover the array of law firm management issues from strategy and finance to compensation and cultural issues—”an inquiry into the economics of law firms,” to coin a phrase. But there’s much more to life. Specifically, there’s your career. Yes, yours, Dear Reader. As they say in New York, “I’m
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Articles, Ineffable

Brian Williams’ Nemesis

Hardly ever does a breaking story in the news serve as the peg for a column here on Adam Smith, Esq., but we reserve the right to make exceptions to all customs, so today a briefish note on the still-unfolding slow-motion descent of Brian Williams, the NBC Nightly News anchor. The facts are simple, as
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Articles, Ineffable

Global Law Summit/London

Dear Reader: From my long-time friend Stephen Denyer in London (Head of City and International at The Law Society) comes this: Dear Bruce:  Might I take a moment to emphasise how welcome all Adam Smith followers worldwide will be at the Global Law Summit taking place in historic venues across London in less than two weeks
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About the Site, Articles, Just Plain Interesting

Dentons/Dacheng: A Theory

I wasn’t going to write about Dacheng/Dentons until I was. When I first heard about the mega tie-up creating the largest law firm in the world—records are made to be broken, as any number of athletes will happily confide in you—I had only two thoughts: First, this will get everyone’s attention; and second, there is
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Articles, Globalization, Strategy

What Macroeconomics Means to You

Across my desk last week came US Trust’s 2015 Investment Strategy Overview, a 40-page publication laying out their view of the year ahead for investors, including their highlights and overall perspective as well as a global macro overview, their views on specific asset classes including “alternative” assets, an investment themes update, and their sector allocation
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Articles, Finance, Globalization, Leadership, Strategy

Conference: Innovation in Entry-Level Recruiting

Going to be in San Francisco Wednesday, March 11? Want an excuse to be? Then we have the answer for you: Please join us at our day-long conference, Innovation in Entry Level Recruiting. Why attend? From the program description: It’s no longer news that the legal profession is undergoing seismic changes resulting from a “perfect
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Articles, Law Schools, Recruiting

What’s Value? Answer One Question

Newish to many lawyers, rarely to their delight, is a growing realization that when clients start talking about the price for legal services, they don’t (really) care whether that price is arrived at by summing a whole lot of billable hours, a negotiated “AFA,” a successful RFP submission, or drawing straws. What clients really want
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Articles, Business Models, Client Relationships, Leadership, Strategy