LAW OFFICE MANAGEMENT: HOW TO MAKE MONEY AS A LAWYER INFORMATION & POLICIES FOR SPRING 2014 LECTURERS RICH MCIVER & CHARLES BROWN

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1 LAW OFFICE MANAGEMENT: HOW TO MAKE MONEY AS A LAWYER INFORMATION & POLICIES FOR SPRING 2014 LECTURERS RICH MCIVER & CHARLES BROWN Office Phone: Course Schedule: TTH 9:00-10:15 Office Hours: TTH 8:30-9:00 Purpose of the Course: The purpose of this course is to teach you how to become a financially successful lawyer through the study of the practical and ethical issues and decisions that will confront you personally as a lawyer starting your own law firm. This course is a guide to starting and succeeding in running a law firm. Topics covered include: case selection, case valuation, how to attract clients, how to cash flow your firm, hiring/firing staff and ethical issues, small business accounting, and firm planning. Grading: Attendance and Participation (50%) Quizzes - 25% Participation - 25% Exam (50%) Short Answer / Multiple Choice based on two questions from each week of class. Attendance: The primary means of learning in this course is through class speakers and class discussions. As a consequence, attendance is heavily weighted. At each class, I will either take attendance personally or provide a sign-in sheet. The sign-in sheets or my own roll call will be considered dispositive evidence regarding your absence from a given class. Each student is responsible for signing in or responding to my roll call. Falsifying a sign-in sheet violates the law school s Code of Academic Conduct. Preparation and Participation: A significant portion of your grade is based on participation. That means coming to class having considered the course materials and prepared thoughtful questions and discussion topics which you volunteer to discuss. If you raise your hand and contribute something useful or ask an insightful question you will receive full credit. If you stay quiet, you ll receive zero credit. It s pretty straightforward. Better Late Than Never: Try to be on time to class. But if you arrive late, come to class anyway. Class Texts: You Can t Teach Hungry, John Morgan Accounting Made Simple: Accounting Explained in 100 Pages or Less, Mike Piper

2 Own Your Niche: Hype-Free Internet Marketing Tactics to Establish Authority in Your Field and Promote Your Service-Based Business Class Topics: Week 1: Introduction Tuesday 1/14: A) Class Structure, Goals & Expectations Overview B) Professor Backgrounds & Experience C) Student Intro: What are your plans after law school? Is there anything specific you d like to learn in this course. A) Intro to the Business of Being a Litigator in Texas B) Different Methods of Making Money Week 2: A Plaintiff s Medical Malpractice Practice Tuesday 1/21: Speaker: Rich McIver & Charles Brown A) Topic: The business of a Plaintiff s Medical Malpractice Practice. A) Case Selection B) Specialist vs. Generalist C) Staff Structure D) Time breakdown in handling cases E) Cashflow Analysis A) Projecting Startup Costs of Plaintiff A) Staffing Staff Structures Hiring Payroll Liability B) Real Estate Leases C) Funding Options Lending Environment Today Week 3: A Plaintiff s General Personal Injury Practice Tuesday 1/28: Guest Speaker: Davis & Davis A) Topic: Decision to start, and their experience starting a practice.

3 A) Costs B) Case Selection C) Case Sources D) Surprises E) Cashflow F) Future Plans & What Looking For In Associates Topic: What contingency fee lawyers prioritize Case Selection Advertising Cashflow Analysis Capital Requirements Firm Staffing Structure Week 4: An Hourly Billing Plaintiffs Practice Tuesday 2/04: Guest Speaker: Billy Skinner Topic: Startup of a Criminal Defense Practice Niche Selection Advertising Cashflow Analysis Capital Requirements Firm Staffing Structure Topic: How Billing Structures Shape Practices Staffing What is Important in Litigation Funding Requirements Goals of Litigation Fears / Concerns Trial Strategy Week 5: A Mass Torts Plaintiffs Practice Tuesday 2/11: Guest Speaker: Topic: Overview of a Mass Torts Practice Niche Selection Advertising Cashflow Analysis Capital Requirements Firm Staffing Structure

4 Topic: Advertising & Marketing Advertising Review Process Display vs. User Intent Types: Radio TV Phonebook Referrals Internet Networking Referrals & Referral Fees Week 6: Nursing Home In-House Defense Counsel Tuesday 2/18: Guest Speaker: David Erickson Topic: Dealing with Outside Counsel, Plaintiff s and Defense Plaintiffs What approach do you take, why? What alternative approaches do in-house counsel take? What role does litigation play in your practice Defense When do you decide to hire for litigation? How do you decide who to hire? What makes you a repeat customer Topic: Law Firm Websites Who to Hire, How much to Pay Rankings & SEO / Local / Adwords, AdCenter, Retargeting Week 7: Valuing Cases & Effective Negotiation Strategy Tuesday 2/25: Speaker: Rich McIver & Charles Brown Topic: Valuing Cases & Effective Negotiation Strategy Topic: Closing and Signing Clients Client Interviews Getting real facts WHEN / Damages / Who / What (in order) Answering Client Questions Signing Up a Client Setting Expectations Puffery When / Where Client Contracts

5 Necessary Elements of the Contract Week 8: An Hourly Billing Defense Practice Tuesday 3/04: Guest Speaker: Michael Stewart Topic: Running a defense firm Obtaining & Retaining Clients Financials & Cash flow Profit-Centers in the Practice Billing Strategy Topic: Running a Practice Cheaply Outside Vendors vs. In-House What You Can / Can t Cut Corners On Week 9: Spring Break, No Class Week 10: Small Business Accounting Tuesday: Small Business Accounting, Part 1 Small Business Accounting, Part 2 Week 11: Case Value and Handling Plaintiff s Cases Tuesday 3/25: Guest Speaker: Bob Talaska Topic: Plaintiff s Case Selection What gives a case value? What to look for in the records Niche v. Broad Practice Topic: Initial Handling of Plaintiff s Cases Calendaring and Limitations Getting Records and Authorizations Preparing expert reports, petitions, discovery, and notice letters. What Depositions to Take, What to Let Go Expert Witnesses, Who, How Much, How Many Needed Week 12: Mediation Tuesday 4/01 Speaker: Dave Mattheison - Mediator Topic: How Mediations Work

6 Topic: Resolving Cases Obligations to Your Client Resolve Cases Fast vs. Maximize Value What Causes a Settlement. Effective mediation strategies Methods of increasing case value Stowers Third-Party Liens Week 13: A Retainer-Based Family Law Practice Tuesday 4/08: Guest Speaker: Topic: Starting a Family Law Practice Obtaining & Retaining Clients Financials & Cash flow Profit-Centers in the Practice Billing Strategy Topic: How to be an effective associate Hourly Billing Associate vs. Contingency Associate What Your Boss Won t / Can t Tell You Week 14: Professional Malpractice Tuesday 4/15: Speaker: Ethics / Malpractice Attorney Topic: Common Ways Attorneys Get Sued and How to Avoid Them Topic: Professional Malpractice, Malpractice Insurance How to not get sued. Week 15: Final Exam Tuesday 4/29: Final Exam Prep / Review Final Exam