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PSA to Biglaw clients: If you have a small, uncomplicated deal
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Date: September 2nd, 2010 12:05 AM Author: Aromatic Blood Rage you should hire a midlaw firm. if you don't, you're going to pay high rates for a know-nothing midlevel, or worse, a junior to run it. you could probably get a midlaw partner to do it for the same price, or less.
hth. |
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Date: September 5th, 2010 10:03 AM Author: underhanded business firm ratface Many biglaw firms (even legit ones) will impose fee caps in order to get the business ITE. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15968993) |
Date: September 2nd, 2010 12:06 AM Author: chrome turdskin what do you consider small (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15944530) |
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Date: September 2nd, 2010 12:08 AM Author: Aromatic Blood Rage idk, anything <100MM for sure. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15944545) |
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Date: September 2nd, 2010 1:34 AM Author: Concupiscible maniacal dilemma but uncomplicated too? (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945317) |
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Date: September 2nd, 2010 12:06 PM Author: spectacular crystalline juggernaut filthpig Um, we had a fund that did nothing but these (20-100MM) deals, despite a fairly large capitalization. It was far more effective to use us than a mid-law firm. We were full service, regardless of the deal. Tax, environmental, labor, etc. Our mid-levels were smarter and more motivated than mid-law partners and more than willing to be on shitty calls on NYC or LA or UK time.
I would hire the PE chick who sat next to me at BIGLAW 1,400 times before I would hire some 13 lawyer shit-law shop. |
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Date: September 2nd, 2010 12:07 PM Author: Beady-eyed Fluffy Public Bath Psa your firm is midlaw. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947250) |
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Date: September 2nd, 2010 12:09 PM Author: spectacular crystalline juggernaut filthpig Do you know where I work? (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947265) |
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Date: September 2nd, 2010 12:10 PM Author: Beady-eyed Fluffy Public Bath Within a narrow range of firms. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947277) |
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Date: September 2nd, 2010 12:15 PM Author: spectacular crystalline juggernaut filthpig It would be hard to define where I work as midlaw. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947308) |
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Date: September 2nd, 2010 12:19 PM Author: Beady-eyed Fluffy Public Bath Rates are 30% below the true biglaw M&A firms. Ppp is well under half (more like a third and that is after increasing almost 50% from 2006 to now).
Frankly, you firm is a lot cheaper than true biglaw.
This applies to all of the firms you could possibly work for. |
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Date: September 2nd, 2010 12:29 PM Author: spectacular crystalline juggernaut filthpig First statement depends on the office of my firm. They charge biglaw rates in NYC, DC, etc. A fact which is, in and of itself, hilarious.
But I suppose I take your point, FRIEND. |
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Date: September 2nd, 2010 12:35 PM Author: Beady-eyed Fluffy Public Bath Yes, FRIEND. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947435) |
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Date: September 2nd, 2010 12:42 PM Author: spectacular crystalline juggernaut filthpig Hurry up and find me a job, asshole. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947479) |
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Date: September 2nd, 2010 12:51 PM Author: Beady-eyed Fluffy Public Bath Most big firms will run a background check which rules them and corporations of any decent size out. I would start going to aa and networking there and spam 2-20 sized litigation shops in your jurisdiction. You seem to have gotten decent experience. Can you say you argued in court, done deps, done trial crosses and directs? The biglaw litigators (outside of certain niches) that have made that move all seem to be the ones who can pitch the I want more courtroom work and I can do it becuase I have done I before. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947557) |
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Date: September 2nd, 2010 12:56 AM Author: Aromatic Blood Rage (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945061) |
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Date: September 2nd, 2010 12:56 AM Author: magical sandwich area (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945062) |
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Date: September 2nd, 2010 1:33 AM Author: azure orchestra pit clown shhhh (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945309) |
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Date: September 2nd, 2010 1:39 AM Author: lime big psychic stead cr (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945361) |
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Date: September 2nd, 2010 2:12 AM Author: Haunting fuchsia meetinghouse Biglaw isn't particularly good for much of anything other than massive cases and deals. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15945526) |
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Date: September 2nd, 2010 11:37 AM Author: misunderstood karate office ITT: A lawyer invites a client to take business AWAY from his firm.
Future Thread: MY TTT FIRM JUST STEALTH'D ME! |
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Date: September 2nd, 2010 11:42 AM Author: Filthy set sex offender TCR, plus LMAO at < 100 million being a small deal. There's a zero in there that shouldnt be.
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Date: September 2nd, 2010 11:49 AM Author: Exhilarant Field pretty sure $100 million company is the exact figure cited in the latest slate article about "death of biglaw" as a sweet spot for midlaw (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947150) |
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Date: September 2nd, 2010 11:50 AM Author: Drab Bat Shit Crazy Tanning Salon Incel welllllllll if SLATE said so! (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947155) |
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Date: September 2nd, 2010 11:51 AM Author: Exhilarant Field i have no idea if that's right but $10 mil company sounds like they should hire shitlaw steve instead (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947160) |
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Date: September 2nd, 2010 5:11 PM Author: jet corner personal credit line (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15949382) |
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Date: September 2nd, 2010 11:52 AM Author: bonkers aqua faggotry background story lololol. a $10 million dollar deal nets the firm....what...$300K?
LOL @ the small/midlawyersttt ITT |
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Date: September 2nd, 2010 11:55 AM Author: orchid locus oh look, an xo poster scoffing at $300,000. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947172) |
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Date: September 2nd, 2010 4:44 PM Author: Supple native No way the firm gets 300k. Try 100k. I do $500M deals that don't net the firm 300K. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15949139) |
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Date: September 2nd, 2010 4:53 PM Author: ultramarine institution He was using net to mean pull in (aka gross). For a $10M 300K would be a steep bill, but it's plausible if there is a lot of complexity to the structure, a lot of clean up required and a lot of specialists' input required (which is why you would want to use a biglaw firm). If it's a standard issue stock purchase then it could easily be done for under $100K, and a midlaw firm could probably do it for under $50K, but more than likely the biglaw firm hands it off to some mid-level who putzes around with a junior and balloons the bill as much as they can (to $100K +). That's the deal you want do with a midlaw firm. The problem is that sometimes it's hard to tell how complex a deal is from the outset. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15949233) |
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Date: September 2nd, 2010 12:01 PM Author: Sinister library $2K DWI retainer is a BIG DEAL (steve) (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947219) |
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Date: September 2nd, 2010 12:10 PM Author: adventurous liquid oxygen lol (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947279) |
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Date: September 2nd, 2010 11:53 AM Author: vigorous spot idea he suggested biglaw is a festering, crumbling, bloated corpse of an institution. i for one look forward to watching its ttt metamorphosis (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947164) |
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Date: September 2nd, 2010 11:55 AM Author: flickering bright cumskin Nah, you mainly just wish you were in biglaw. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947176) |
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Date: September 2nd, 2010 12:04 PM Author: vigorous spot idea he suggested i do but that doesn't mean i'm wrong (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947230) |
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Date: September 5th, 2010 9:56 AM Author: Bull headed electric property + 1 (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15968964) |
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Date: September 2nd, 2010 12:19 PM Author: chartreuse ceo jap I just hope the ship stays afloat long enough for me to hop in some partner's lifeboat when he leaves to start his own firm, or until I can get into a boutique somewhere. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15947320) |
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Date: September 2nd, 2010 5:43 PM Author: aphrodisiac pungent pozpig multi-billionaire This is some laughable shit. Thanks. (http://www.autoadmit.com/thread.php?thread_id=1412125&forum_id=2#15949585) |