Thinking Outside the Box: Starting a Law Firm on Craigslist
July 28, 2009
Four months ago, Afif Ghannoum, a 29-year-old attorney launched The Ghannoum Law Firm. The firm focuses almost exclusively on transactions and intellectual property for the biotechnology industry. What sets them apart is the way the firm started. Ghannoum used Craigslist to help launch his firm by advertising for potential partner-level attorneys. His Craigslist post received nearly 500 responses from lawyers in Ohio and New York City.
The firm currently has nine lawyers that operate out of a 500-square-foot office in Cleveland, but do most of their work from home and make client site visits in the same way that many information technology consultants do. The Med City News has an in-depth interview with Mr. Ghannoum in which he discusses how the firm has already attracted 20 clients in four short months. The firm attracts clients based on their bare bones approach and it’s ability to pass cost savings on to clients without sacrificing quality.
Although some may see this as a completely radical way to start a firm, in reality it’s just a passing of the guard from the old way of doing things to the new way. The consulting and advisory industry has been thinking outside the box for almost a decade now in setting up their business structure, all it took was a near economic meltdown for the legal industry to begin doing the same.
Of all the innovative things he's trying, the one I
Chris | July 28, 2009 | 8:27 AMOf all the innovative things he’s trying, the one I think is the riskiest is the intense focus on one industry. The other areas — different pay structure, virtual offices — have been tried before and there are already best practices. I wonder, though, if the niche focus will broaden if he gets established and wants to continue expanding. As the story mentions, other “biotech” law firms also do cleantech and other industries.
Chris: He illustrates eleven practice areas of which biotech law
Ron Peterson | July 28, 2009 | 4:36 PMChris: He illustrates eleven practice areas of which biotech law constitutes only one part. Given, that pay on cases only and virtual offices have been tried before, perhaps it’s now time in the business evolutionary cycle for them to work? If you’re involved in biotech (or would like to be involved) I have an e-book on funding new technology companies and an extensive white paper on technology transfer in the life sciences, both gratis at tarrows@verison.net, if you want. The e-book is “When Venture Capitalists Say ‘No’–Creative Financing Strategies & Resources” and the white paper is as named. best,
[...] other biotech-focused law firms. But other attorneys, including Texas
The guts to go it alone because of biotech — MedCity weekend rounds : MedCity News | August 1, 2009 | 10:24 AM[...] other biotech-focused law firms. But other attorneys, including Texas lawyer Robert Abtahi, say the way Ghannoum started also sets the firm apart. Although some may see this as a completely radical way to start a firm, [...]