Living Paycheque to Paycheque on $6,574,000
By Murray Gottheil | April 2, 2025 Photo by Pixabay at Pexels. It’s Not a Principle Until it Costs You Money – Bill Bernbach We have all been reading about the Paul Weiss law firm settling with the Trump Administration to get out from under an executive order, the legality of which is, to say the least, […]
Soaked to the Skin
Photo by Min An at Pexels By Murray Gottheil | March 17, 2025 I don’t consider myself a pessimist. I think of a pessimist as someone who is waiting for it to rain. And I feel soaked to the skin – Leonard Cohen I have a friend who is a dermatologist. I will call him Howard. Howard […]
Murray’s Masterclass in Managing Client Expectations
By Murray Gottheil | March 9, 2025 Photo by Max Fischer at Pexels At My First Rodeo Client (C): We need to close this transaction in two weeks. Murray (M): That is impossible. C: The vendor said that his lawyer told him that deadline is perfectly reasonable. Why are you creating roadblocks? If you cannot get […]
A Sucker’s Game
By Murray Gottheil | February 13, 2024 Imagine the following scenario: Jordan is a third year associate with Big Law targets. He typically achieves that target and receives a bonus of $18,000. He is also paid 10% of the billed and collected business that he brings in. Despite the “reasonableness” of the target, Jordan is […]
Gladly Suffering Fools
By Murray Gottheil | February 10, 2025 Back in the day, before I became as warm, compassionate, empathetic, and all-around loveable as I am today, I had a reputation as someone who did not suffer fools gladly. There were even a few people around the office who found me to be intimidating. Of course, self-awareness not […]
Titles are the Opium of the Masses
By Murray Gottheil | February 3, 2024 Unsuccessful people are the ones who are impressed by celebrity, by people’s names and titles – Robin S. Sharma In the old days, there were associates and partners. Every lawyer planned to work ridiculously hard as an associate for about seven years, after which the firm would invite them […]
Random Thoughts About In-House Counsel
By Murray Gottheil | February 2, 2025 I never worked in-house. Of course, having no such experience is not going to stop me from spouting off about in-house counsel (“IHC”). So, here we go! CYA Some IHC strive to avoid personal risk. They may always hire Big Law as outside counsel, so that if something goes […]
Twenty-Four Hundred Hours
By Murray Gottheil | January 25, 2024 I spoke to two law firm partners this week: both told me that they were expected to put in 2,400 hours, consisting of 2,000 billable hours and 400 non-billable hours (administration, firm events, continuing education, business promotion, and mentoring) annually. I did some math to determine how many hours […]
Zero is the Loneliest Number
By Murray Gottheil | January 23, 2025 In law firms, more zeros are better than fewer zeros. For example, announcing, “Look at me! I just closed a $100,000,000 acquisition” impresses your colleagues more than saying, “I just did a deal worth $10,000,000.” A deal that was only worth $965,000 is not even worth mentioning. Frankly, it is almost […]
Big Law Does It Better
By Murray Gottheil | January 22, 2024 I am willing to bet that you did not expect this headline from me! And to be fair, I do not intend it as a general statement. What I am going to talk about is legal research, and it is a fact that Big Law does that better than the […]