The Young Texas Lawyer

Ashby Jones of The Wall Street Journal’s Law Blog recently sat down with Quinn Emanuel’s John Quinn, one of the founders of the Los Angeles based litigation powerhouse, Quinn Emanuel Urquhart Oliver & Hedges. The 400-lawyer firm’s Quinn had some very practical tips for young attorneys…

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There was a piece posted here last week with tips on being a great lawyer. I have always tried to bring into my professional life the things that make one a decent person: keeping my word, not holding too many grudges, maintaining personal integrity.

But there is one tip I was given by one of my very first mentors, a prosecutor for whom I interned in my 1L year. As I have seen more than one person who clearly had not been warned about this particular quirk of the legal world, I will now pass it on to you.

When you are at a defense table, prosecutor’s table, or even conference table in a mediation, there is often a pitcher of water and glasses for your use. You know the pitcher I’m talking about – it has a duck beak-like opening spout that you have to open by pressing the level opposite it. Well, here’s the advice: when you pour yourself a glass of water, pick up the glass and pour the water into the glass over the floor, not over the table and all of your papers.

A small thing, but you’ll thank me when you see someone else end up spewing water all over the place. You’ll be cool as a cucumber with a dry table and papers intact.

Written by YTL Contributing Author Lisa Young

In 2004, a group of investors filed suit against Fannie Mae, then a publicly traded company, for claims arising out of an accounting scandal. However now, no one really knows what type of entity Fannie Mae is. Judge Richard Leon of the U.S. District Court for the District of Columbia has already forced the question on the parties during a status hearing, “The 800-pound gorilla sitting in the room is the obvious question: What’s Fannie Mae?”

Federal conservatorships are an undeveloped area of the law and Fannie Mae’s legal team has a lot of research to do in order to raise some unique defenses. Hundreds of millions of dollars are at stake, and if the plaintiff, the attorney general of Ohio, can’t go after Fannie Mae, he plans to go after their auditors, the accounting firm KPMG. Plaintiff’s counsel has warned, “if they [Fannie Mae] go bankrupt, then there will only be three accounting firms in the United States instead of four.”

Although a Fannie Mae bankruptcy seems unlikely, this will be a case people may want to focus on as government intervention becomes more common place in today’s environment.

This Thursday, March 26th, Performance Legal Placement and the Dallas Association of Young Lawyers have assembled a group of panelists that will offer real guidance on how to transition your career.

The Topics Include:

• Moving In-House
• Joining the U.S. Attorney’s Office
• Switching Practice Areas
• Opening Your Own Practice

The program starts at 4 p.m. at Fedora Restaurant and Lounge on the first floor of One Arts Plaza and admission is FREE.

Sources within the Obama Administration are saying that they “will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation.” For many companies this will be seen as a burden, but for attorneys it can easily become a boom.

As Carolyn Elefant at MyShingle.com recently wrote, “Looking for a new practice area… just pick up the newspaper.” The level of government intervention we have seen in the last few months is somewhat historic. In general, big disasters lead to over regulation and this one will be no different. New regulations means new laws and new laws means new lawyers. The changes will come in the form of updates to the IRS Code, ERISA, Treasury regulations, and SEC regulations. There are already a myriad of rules that corporate america has to abide by and even some of the individuals who draft them don’t even know what they mean.

So if you are having trouble picking a speciality, pick up a newspaper and use your imagination, because with every new government regulation comes a new or renewed practice area. The angry mob is already out with their torches and pitch forks visiting some of the AIG executives’ homes. It won’t be long before executives are out in angry mobs looking for attorneys to protect them.

In a great article, Molly Peckman of The Legal Intelligencer asks the age old question, “What Makes a Lawyer Great?” A few of the tips include:

• Take nothing for granted
• Be curious, always
• Work wholeheartedly and with all your energy
• Take risks
• Listen well
• Challenge yourself

And most importantly… surround yourself with great lawyers. To become the best you have to learn from the best. Check out the full article by following the link above. This summary doesn’t do it justice.

In the spirit of March Madness, we have to report that Kobe Bryant showed up in an Orange County courtroom and happily submitted himself to several hours of voir dire for jury duty. Kobe let the attorneys know that he had good common sense, thought he could be fair, and is a “good listener.” Bryant wasn’t selected, but left the courtroom saying, “I don’t think anybody wants to do jury duty, but it’s your responsibility.”

The Texas Bar and 27 other state bars have joined forces to provide you with a great new legal research tool, Casemaker 2.1. All you have to do is register using your last name and Texas Bar number. The tool spans over 50 states and deserves a look, especially in an economic climate when associates are expected to cut costs.

Mentoring is very much a two-way street. Both parties have to be sincerely dedicated to fostering a relationship. Unfortunately, this is easier said than done. So for those of you that don’t have any mentors, hate your mentor, don’t feel like asking dumb questions, or are just too socially awkward to talk to anyone  - the Texas Young Lawyers Association has created you the Ten Minute Mentor. It is a site filled with video clips that explain almost any type question you might have from the experts. Each clip is short, practical, and best-of-all, free.

Green marketing hype has been inescapable. For example, notwithstanding the current economic recession, four out of five Americans claim that they continue to purchase and consume green products. What implications does the green movement have for attorneys?

Many companies currently take measures to reduce their carbon and greenhouse gas emissions, utilize recycled paper and other materials, and promote awareness of green issues in order to have a positive impact on the environment. Some law firms across the country have begun to market themselves as practicing law in greener, environmentally beneficial offices. It is no secret, however, that companies claiming the green label can reap sizable rewards. Such companies have grown a noticeable competitive advantage. Moreover, green companies may be held accountable for fraud or other deceptive trade practices should their green claims prove factually incorrect or misleading. Hence, “green” litigation may arise out of green claims made by builders, consulting groups, design professionals, energy producers, and manufacturers of consumer goods, among other potential sources.

Young Texas attorneys should take an interest in “green” law for at least three reasons:

First, Texas’ dominant energy industry promises to take greater interest in renewable sources of energy as the viability of green energy improves. Increased interest in renewable sources of energy seems imminent, furthermore, as the Obama administration’s American Recovery and Reinvestment Act (ARRA) will inject $787 billion into the economy, claiming to “provide the capital over the next three years to eventually double domestic renewable energy capacity.” Energy companies heralding renewable products must take care to make factually accurate claims about the effect of their technology on the environment.

Second, Texas is a developing state, and green construction projects may grow in popularity. Legal issues include tax credits for homeowners who install energy-efficient windows, insulation or heating systems, claims against designers who allegedly failed to achieve the level of green certification at which the owner marketed the property, and other risks. For those interested in learning more about the extent of regulation over green marketing claims, please check the FTC’s “Green Guides,” which outline general principles that apply to all environmental marketing claims and provide guidance to help marketers avoid making unjustified or deceptive claims under Section 5 of the FTC Act. These general principles may be found online.

Third, the small firm and solo practitioner have the option to take a leadership role and “go green”, in order to capitalize on a unique marketing opportunity while having a positive impact on the environment. It may cost a little bit more to print only on 100% recycled paper, but if the recent trend provides any indication, it could be well worth it. Profit is not the only bottom line…

Written by YTL Contributing Author Kiernan A. McAlpine