The Direction of Boomstar Law Office
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  • The Direction of Boomstar Law Office

    YaoBin 


             Boomstar Law Office has been in existence for more than ten years. Through great effort made by all members of Boomstar, our office has become a relatively large law firm in Jiangsu Province. This is an achievement worth celebrating. We would like to thank all the people who have contributed to our firm! We appreciate all your hard work!


             Not everything is necessarily optimal though. Boomstar has made rather slow progress for several years. Our main businesses are not prominent and high level legal services (for example IP service, M&A service) are limited. We spend perhaps too much time on traditional legal businesses, such as litigation, and lack angles for new growth. Our economic growth relies heavily on a few individuals. Many lawyers, particularly young lawyers, lack the resources to accept and properly handle many cases. Our development is in the bottleneck stage. How to overcome these limitations is a big problem before us.

             Following are some of my thoughts for our colleagues’ reference.

             First of all, I think we need a large scale and professional law firm. Why do we need such a firm? A big and professional firm is more competitive and has the ability to accept bigger business. Small firms can’t do complicated legal work, and similarly can’t afford so many professional lawyer councils and material supplies. Therefore, the advantages of a bigger law firm are, in large part, related to competition.

               So, is Boomstar a big and professional firm? Maybe yes, and maybe no. It is a big law firm in the sense that we have more than 40 lawyers and several administrative assistants. We also have over 1,000 square meters of office space and three branches in other locations. Our business incomes are at the top end of the Jiangsu Bar Association affiliated branches. All of this indicates that we are not so small, but, we lack powerful collective competitive capabilities. Many lawyers do their jobs independently and seldom put a professional team together to handle cases. Many lawyers handle various legal affairs, civil cases, criminal cases, and labor cases, for example, without having these specializations. Lacking the specialization and professional team work means we have no large scale competitive firms. So, some may say that we are not a big law firm in the real sense, and therefore, we must do something to change the present situation. The ultimate goal is to transform our firm into a true large scale and professional law office.

                Second is the question of how to become a bigger and more professional law firm. Perhaps, we need change our existing partner evaluation and distribution systems. According to our existing system, our partner distributions only depend on the partner’s business incomes according to the firm. We don’t consider our partners as having any other contributions to the firm. It leads each partner to only consider his/her own business incomes and disregard any others. No one single concern benefits of our entire firm. How should we instill reforms to better the current situation? Changing the way we evaluate and distribute contributions and incomes is a key. It may be difficult, because the changes could affect some people’s personal benefits, but, we must go forth with it despite it being a challenge for all of us. We should display wisdom and courage to achieve these goals together. Otherwise, Boomstar will never be a big law firm!

               Thirdly, we should balance between long-term interests and short-term interests. It’s profitable if you accept various cases because you can get money from these cases, but this is beneficial only in the short term. By accepting so many different cases, it makes it difficult to have quality litigation in these cases, as you are spreading your skills amongst too many differing areas. If you cannot maintain quality litigation for your cases, your development will not be sustained. So, if one is unfamiliar with certain kinds of businesses, the better decision is to introduce others to handle the case. We should be aware of our strengths and weaknesses, and delegate specialties to cases accordingly. That’s a sustainable way to strengthen professional career development.

               For the same reason, our office also needs to pay more attention to the firm’s development as a whole. Partners should give more consideration to the firm’s collective goals rather than focus on their own cases constantly. Partners should build and promote our firm’s professional characteristics and professional advantages actively. Partners need to attract talent and create favorable working conditions for this talent. They should furthermore attempt to hold more seminars, and publish papers and books in order to expand our influence. Most of these things are not necessarily monetarily profitable, but they are beneficial for our office as a whole in relation to our long-term interests.

               Finally, what are the current advantages of our firm? We have several departments of legal affairs, including corporate law, real estate law, civil and administrative law, criminal law, IP law, foreign legal affairs, and finance and insurance law. We particularly have some senior lawyers who have rich experience in various legal services. Some of our cases were named outstanding cases by the Bar Association, published in supreme court and high court communiqués, and praised by our clients and many well-known newspapers and magazines. Some lawyers have even published professional books. Even so, I think our professional level is not very high and our firm’s impacts within the legal profession need to be enhanced further. The next step is to establish and promote our influence in our province and even our country. Which departments or legal affairs in our firm are most worth building or promoting? This is not clear. Maybe we should focus on real estate, or perhaps insurance, IP, or bankruptcy liquidation. We must observe our current situation carefully and decide which type of service we can best support.

                In summary, we need to establish a larger scale, more professional law firm. That’s our direction of development. In order to achieve this goal, we need sufficient communication among our partners and lawyers. We need to change our existing partner evaluation and distribution system, balance between long-term interest and short-term interest, build some professional lawyer teams, and cultivate our own legal professions and promote them actively. Once we have achieved all of these objectives, I believe we will see tremendous improvements in our firm’s development.

     

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