Way back in September (remember September), I told you about an upcoming corporate counsel event—a panel discussion that I was asked to moderate, sponsored by the Legal Marketing Association.
It was a blast. It’s always great to hear the up-close-and-personal dialogues among and between lawyers who work within corporations and associations.
However, because Arizona Attorney Magazine is a multi-modal content-delivery system (say that three times fast), I point you now to a synopsis of some of the attorneys’ insights, available in print and online.
You may already have received (and read!) your print version of the magazine. But click here to read the concise article online.
Here is how the dialogue opens:
What are corporate counsel thinking?
Boiled down, that is the question that drives a great annual event that gathers lawyers and law profession communicators to hear from in-house counsel.
Sonny Cave (ON Semiconductor): It’s going to provide work both to the in‑house team and the outside team. At any given moment in time, I’ve got hundreds of matters that are being handled by outside counsel, lawyers in all the different countries where we do business. I do try to hold as much work in-house as possible. Our cost model is generally about 40 percent of the total legal budget for in-house work and about 60 percent for outside law firms.
Eigo: Todd, is real estate coming back, and is there a hiring effect?
Todd Weiss (Cole Real Estate): Yes and yes. When I started in 2004, we did $250 million in acquisitions. This year our goal is between $4 billion and $5 billion in acquisitions. There’s not a week that goes by that we aren’t sending a matter out to outside counsel. We rely heavily on our outside counsel to run our acquisitions.
Eigo: Lisa, as a large public university, what does your office seek in outside counsel?
Lisa Loo (ASU): We look for law firms that understand our challenges, understand where it is we’re trying to go. We’ve been lucky in that the law firms we have engaged understand the challenges. The downturn in the economy hasn’t lessened our work; it actually has made us be more creative because you have to figure out how you are going to bring more money in, and students tend to enroll in higher ed when the economy is down.Follow @azatty