Joshua Lenon - Map It Out: Your Career in Law

Clio Cloud Conference 2014SEPTEMBER 22 – 23, 2014 · CHICAGO, ILLINOIS

Clio Cloud Conference 2014 #ClioCloud9

Mapping Your Legal Careerby Joshua Lenon

@JoshuaLenon


Photo by Angelo Domini on Flickr under Creative Commons License


Stages of Man

Photo by A. Currell on Flickr under Creative Commons License


2010 2014

52,488

38,000

1L Law Students

1L Law Students2010 2014

37%

Becoming Top Heavy

Clio Cloud Conference 2014 #ClioCloud90%

10%20%30%40%50%60%70%80%90%

100%

60+50+40+Under 40

Lawyer Ages


Our profession is aging, seeking retirement, and there are fewer

replacements being trained


Stages of Lawyer Career


Learning to Crawl


At the of 24, we expect students

to choose the next 40 years of their lives.


Choosing a Field


1. Think Long Term

2. Make a Plan

3. Talk to Practicing Lawyers

4. Talk to Your Professors

5. Listen to Yourself

Choosing a Field

6. Think Outside the Box

7. Quality of Life

8. Understand Your Personal Goals

9. Forget Finding the “Right” Answer

10. Your Answer Will Change


Standing on Your Own


All lawyers consider going solo


Firm Size 2003 2007

Solo 4% 8%

Small Firm 23% 18%

21-100 13% 10%

101-250 8% 5%

251+ 20% 13%

After the JD Study


Prepare for disruptions


• Economic changes impact practice areas

• Internationalization continues to grow.

Disruptions


Tech choices will impact you for decades


Schofield's First Law of Computing

Never put data into a program unless you can

see exactly how to get it out


Lenon’s Addendum

The passage of time makes almost every electronic file format

inaccessible.


Lawyers have a duty to produce

electronic documents decades from now


New York Records Retention

Lawyer’s need to produce on demand:

• Financial & Trust Records

• Client Files

• Original wills

• Files involving minors or those under a disability

• Select real estate files

• Family law matters involving future expenses


Law Society of England & Wales

• Trusts

• Life of the trust, plus six years

• Wills

• Indefinitely

• 50 years from date of creation

• Even if revoked


ISO Formats

• ISO 19005 – PDF

• Font embedded

• Encryption forbidden

• ISO/IEC 29500 – Office Open XML

• Created by Microsoft

• Based on XML architecture

• ISO/IEC 9075 – SQL


Lawyers must evaluate software choices

based on exit options


Walking with Help


Elder lawyers are in a prime position

to help others stand.


1. How to be a good mentor

2. Exiting gracefully & profitably

Elder Advocates


• Look for Bar mentor programs

• Law schools (externships)

• Clio Co-Counsel

Mentorship


Mentorship


Mentoring provides exit opportunities


Exiting


Rule 1.17 Sale Of Law Practice

A lawyer or a law firm may sell or purchase a law practice, or an area of law practice, including good will, if the following conditions are satisfied:

(a) The seller ceases to engage in the private practice of law, or in the area of practice that has been sold in which the practice has been conducted;

(b) The entire practice, or the entire area of practice, is sold to one or more lawyers or law firms;

(c) The seller gives written notice to each of the seller's clients

Selling a Practice


• Income

• Expenses

• Client Base

• Sources & use of capital

• Potential conflicts

Due Diligence


Easy Due Diligence


Stages of Lawyer Career


Thank you for listening!

Business

Joshua Lenon - Map It Out: Your Career in Law