Welcome to The One Minute
Manager. Our goal is to provide you with quick
tips that will enhance the success of your practice.
Within 60 seconds you will gain an idea that will
increase your profitability or simply ease the burden
of a difficult management issue. We hope you will
find
this a valuable resource.
The One Minute Manager . . . . .
The dilemma faced by all law firms is how to provide
high quality service and yet meet the cost constraints
that are expected by our clients. The largest cost
component is professional salaries and there has
always been a requirement to pay superior salaries to
attract top talent.
A trend amongst European law firms may be the
answer. They have developed a legal specialist role
that is referred to as a Commercial Legal Executive.
You can think of this position as a highly qualified law
clerk that performs at a lawyer level within a specialist
area. Often this person has a Masters of Law degree
despite not being called to the Bar nor holding an LLB
degree.
The profile of a Commercial Legal Executive seems
understandable. This talented individual has a keen
interest in commercial law, yet is unwilling to take on
the onerous and broad based education commitment
to become a lawyer. Consider what percentage of law
school education is applied following your call to the
Bar. In addition, the career demands and lifestyle
sacrifices of a private practice lawyer is of little appeal.
The Commercial Legal Executive, however, can play a
valuable role in both law firms and corporate legal
departments. This high level specialist can undertake
critical tasks, which are otherwise handled by lawyers,
at a lower cost with equal competence. Law firms
gain improved leverage since the position is not
partner-tracked.
Canada is now being targeted for potential candidates
and employer participants in the research thesis of
the LLM program offered by the University of Stirling in
Scotland. Fraser Davidson, the Dean of the Law
School, will be providing a breakfast briefing at the St.
Andrews Club in Toronto on September 17th. If you
are interested in attending, you may contact
John Kelly, the principal from
Canada Law from Abroad, at
(416) 367-1226.
Introducing a Commercial Legal Executive role into
your firm may offer the competitive advantage of lower
client fees while also increasing partner incomes with
the improved leverage from a non-partner tracked
legal professional.
Robert Hardie, Managing Director
Management Counsel Group
phone:
(416) 402-0759