I do not subscribe to the notion that corporate ethics have been changed by recent developments. While there is greater sensitivity, the fact of the matter is that good lawyers have always advised their clients to do the right thing. It is unfortunate when lawyers forget their role: Being a good lawyer is advising your [...]

We try very hard to inform our clients of relevant major developments in the business and legal worlds. In addition to periodic updates, I think it is equally important that you have an ongoing dialogue with your clients. You need to meet with them as often as you can – which is probably going to [...]

Whether negotiating documents or resolving a dispute, the way to succeed is to have an early, thoughtful conversation with key client decision-makers. When you go into a negotiation, you must have a result in mind. You should start the negotiation at a place that you believe will get you to the end result. I think [...]

As I look back over 40 years of practice, and also try to look forward, I think that there are long trends. The pendulum swings back and forth . . . usually too far in one direction and then too far in the other direction. I have seen stock market booms and busts, periods of [...]

My primary advice to a young lawyer is to find your personal strengths and build on them. You can also work on your weaknesses, but your strengths are what are really going to make you successful. You should think about what they are, figure out how to make the best use of them and build [...]

To be a great corporate lawyer, you must listen to what your clients and others say. I remember somebody telling me, “You don’t learn very much by talking. You already know what you’re going to say, but you can learn a lot by listening to others.” Taking the time to listen also lets you take [...]

Good judgment and problem-solving skills are related to creativity, and some people are just better at that than others. I see many brilliant young lawyers come out of the best law schools in the country. If you look at their academic records and test scores and talk to them, they’re as smart as whips – [...]

Creativity is another critical aspect of helping the client achieve its business goals. To be truly successful, you must be creative . . . to think “out of the box.” One of my partners, Ron Wilder, has been extremely successful in doing that. I recall a situation in which a big corporate client had a [...]

Figuring out what the client needs also helps you think about things from the client’s perspective. That’s another element of what makes a great corporate lawyer – the ability to think about things the way the client would without losing the legal perspective. That’s the way you can add value because you can not only [...]

What the Client Wants and Needs When I think of the fundamental role of the corporate lawyer, I start with the concept of helping the client achieve its objectives. I remember one of my law school professors at Harvard, Professor Casner, who was a very confident – some would say cocky – guy who strutted [...]

Corporate lawyers deal constantly with change. Maintaining a mastery of the law and transactional developments is critical to staying on top so that you can guide clients through different transactions and provide guidance on emerging trends. I read constantly, focusing on both new laws and interpretations of existing laws. Also, the more transactions you are [...]

The most important aspect of negotiation is a thorough understanding of what the client is trying to achieve at the macro and micro levels. It is also important to understand what the other side wants. I endeavor to accomplish my client’s objectives in a manner that accommodates the objectives of the other side to the [...]

How a corporate lawyer spends the day depends upon his or her status. Younger attorneys spend most of their time learning the law and technical skills, such as contract drafting, research, preparation of registration statements and negotiation. Senior lawyers spend more of their time counseling and providing strategic advice. I work with clients on issues [...]

Michael H. Friedman Pepper Hamilton Partner, Commercial Department Golden Rules of Corporate Law The role of corporate lawyer is to assist a client in achieving its business objectives in a manner that is efficient and consistent with the client’s expectations. Sometimes these expectations are based on an inaccurate understanding of either the law or the [...]

The best advice I ever received – and maybe to me it is the best because I received it very early in my career – became an element of the foundational framework for understanding my practice, corporate law, life, clients and everything. When I think back on that advice, it seems basic and simple, but [...]