Ask a Corporate Lawyer anything

44 Questions

Last Answer on December 17, 2014

Can you do work for private clients outside your firm? For example, could you handle a friend's real estate closing, separate from your work at the firm?

Asked by feedthebirds over 13 years ago

Nope -- no big NYC law firm that I know of lets its attorneys take on work outside the firm without permission...I'm pretty sure I signed something to that effect when I started work. I don't think it's illegal to do so, but firms want to keep their lawyers (especially their junior attorneys) on a short leash: it wouldn't look very good if a lawyer got himself into hot water with a disciplinary issue, for example, on a case external to the firm. There are probably malpractice issues at play too, since I know that every firm has malpractice insurance and it may even be a requirement of their insurance policy that attorneys only work on firm cases. (Sorry for the delay in answering, just saw this Q now!)

359 Votes

How hard is it to make partner at a law firm?

Asked by dolphintrainer over 13 years ago

Harder than most people think. First off, you have to *want* to make partner, which most people don’t, because it’s usually a 9 or 10 year track, and that’s a good chunk of your life doing often mundane work. I have friends who started at large firms in NYC in a 1st-year class of 110. They estimate that among them perhaps 5 or 6 will stick around and make partner. Most will leave voluntarily before then. Some will get fired. Some will get told in the 7th or 8th year that they’re welcome to stick around as a senior Counsel but that partnership is not in their future at the firm.

333 Votes

Are you happy practicing law? Do you ever wish you did something else?

Asked by picasos over 13 years ago

I don’t think ‘happy’ is the right word for it, but I’m not filled with regret. The work is usually tedious, but my firm is pretty laid-back compared to some of the more notorious NYC sweatshops. The money’s good and I enjoy working in a well-regarded profession. When my mind begins to wander to other careers, it’s usually because my job isn’t particularly “fun” (I’d obviously rather be playing for the Mets), nor do I feel like I’m necessarily making the world a better place: I’d rather be curing cancer. But last I heard, nobody was curing cancer.

320 Votes

How easy is it for a seasoned partner to lateral?

Asked by lat over 10 years ago

That's a great question, and something I've often wondered myself, but here I need to confess that I actually have no idea. I mean...there's certainly a circle of superlawyers who have a book of business such that they can write their own ticket, whether by moving to their firm of choice or hanging their own shingle. But there's probably a lesser tier of partner for whom it's probably a tougher proposition...sorry that's a pretty answer, I simply don't really know.

317 Votes

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As a client, how can I be sure I'm not getting screwed in billed hours?

Asked by skeptictank over 13 years ago

Short answer: you don't, but there are plenty of high-end law firms to choose from in NYC, so clients can always vote with their feet and take their business elsewhere if they feel like they're not getting their money's worth. Every so often, there will be a high-profile article written about how the billable-hour system is rife with inefficiencies (not to mention perverse incentives), with the article going on to predict that law firms will inevitably move toward fixed fee billing. But those articles have been around for 40+ years, and here we are in 2012 still punching the clock. Moreover, the amount of time/energy that I have to spend submitting my timesheets (accounting for my work days in 6-minute chunks, no joke) is absurd. Some day a law firm will get it right by hiring smart lawyers, staffing them appropriately, and billing clients equitably, but no one seems to have mastered it just yet.

314 Votes

Are lawyers the scumbags they’re portrayed as on TV and in movies?

Asked by DBC over 13 years ago

That’s actually a pet peeve of mine (and many lawyers, I think). I’m sure there are plenty of ambulance-chasers and sleazeballs plaintiff’s lawyers, but by and large lawyers are smart, scrupulous and responsible. Our economy / government could simply not function without capable lawyers. They get an undeserved rap in the media, in my opinion.

310 Votes

Is it a better idea to go to law school straight from undergrad or to work for a few years first?

Asked by 200400 over 13 years ago

An oft-debated question, but I’m not sure there’s a right answer. If you come right from undergrad, your brain’s still in “study mode”, which will serve you well in the rigorous first year curriculum. If you’ve worked for a few years before going back to law school you’re probably better mentally prepared for what the working world actually holds and can approach your studies with more realistic expectations of to what extent things learned in academia translate to real-world applicability.

306 Votes