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LEGAL INDUSTRY BY THE NUMBERS
According
to a Computerworld.com survey, "About 42 percent of the 170 IT managers
and staffers surveyed said they did not know the status of their
company's preparation for the new [e-discovery] rules, while 32 percent
said their company was not at all prepared."
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ASK THE EXPERTS
Mark Grobbel
Do you have a question or challenge you'd like the Lumen Legal experts to address? Please , and we'd be happy to help you plan your strategy. |
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LUMEN LEGAL NEWS
For the
third time, Lumen Legal was selected as one of the 101 Best and
Brightest Companies To Work For in Southeastern Michigan. To qualify as
a member of that list, companies must show excellence in: diversity and
multi-culturalism, work/life balance, communication, compensation and
benefits, employee education and development, recruitment and
selection, recognition and retention, employee engagement and
commitment and community initiatives.
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| The legal industry is changing around us.
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| Lawyers
are traditionally trained to be risk-averse. But, the broader business
trend is about innovation, taking risk and creating value.
In this issue of Legal Industry Insight,
we focus on thinking progressively to achieve goals. Being a lawyer is
now about more than practicing law: To give your law firm or
corporation an edge, abilities beyond pure legal skills are needed.
For
instance, if you know accounting and business principles, that allows
you to anticipate clients' needs. You're able to provide a business
perspective, as well as a legal analysis.
If
you're interested in discussing innovative ways to make a positive
impact on your clients' business, give us a call. We'll help you
develop your strategy. And, if you're looking to build your own core
skill set, Lumen Legal can help you assess your next fit.
 Your
questions and comments are always appreciated. If you know of any
colleagues who would benefit from this newsletter, please .
Regards,
David Galbenski, Esq.
President and CEO, Lumen Legal |
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Why Lawyers Need To Think Like MBAs
Steven
Stralser, Ph.D., a Clinical Professor in a number-one ranked MBA
program and a specialist in training well-educated professionals how to
think like MBAs, says that business thinking ultimately results in
better service to clients. For a law firm to be successful, it should
consider the importance of branding, developing human capital and
embracing new technology. Stralser elaborates on these and other tips.
Seek out business knowledge. >
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| Diversity Conferences: Expectations and Possibilities
Lumen
Legal contributed to the organization of two Diversity Legal Networking
Conferences this fall, and Mark Grobbel and Mary Beth Schmidt attended
both events. They share what was accomplished, and their own
impressions of the conferences. Each was successful in its own way, by
sparking valuable dialogue at panel discussions and laying the
groundwork for meaningful connections at networking events.
Learn about the progress. >
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| Scotts Miracle-Gro Shrinks Its Legal Costs
Nothing
frustrates a company's general counsel more than being dragged into a
lawsuit. At first, Scotts Miracle-Gro executive vice president, general
counsel and corporate secretary David M. Aronowitz tried the
traditional approach to handle just such a situation. Then, he began to
work with a team of Lumen Legal's contract lawyers, which saved the
company millions of dollars and brought consistency to the document
review process.
Discover the alternatives. >
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| Career Choices Build a Bridge To Success
Angelique
Strong Marks knew from the beginning she wanted to be a corporate
counsel. To do so, she laid the groundwork to build her experience and
sought advice along the way. She understood that, typically, your first
job out of law school isn't going to take you all the way to your goal.
The first job is a stepping stone. Each new role adds a different skill
set and takes you a step closer to your goal.
Learn from Angelique's experience. >
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| When the Case Is About Money, Can You Think Like an Accountant?
Jay
Ballantine, who first trained as a CPA, then a lawyer, and is now a
full-time faculty member at the Leeds School of Business at the
University of Colorado, says: Ninety-five percent of what people argue
about is money. That means attorneys need accounting skills to
understand their clients' problems and to give meaningful advice.
Lawyers with basic accounting under their belts will better know how to
read financial statements and understand contract terms.
Make the transition smooth. >
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| The Corporate Counsel Summit From the Inside
The
most recent Corporate Counsel Summit brought together vendors and
corporate counsel from 110 companies to discuss issues like governance
and ethics, intellectual property protection, regulatory developments
and litigation management. Dan Deal, who attended the event, repeatedly
heard the same concerns: "[In-house counsel are] seeking ways to do
more in house and depend less on their law firms than they currently
do."
Find out about the trends. >
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