Be a smarter legal leader

Is working in a traditional career the best option for law professionals today?

‍

No, seriously. With the pandemic completely reshaping how and where work is done, and platforms like Lawtrades making it easier and more lucrative, is going freelance worth it?

‍

Sure, working for yourself can seem scary at first—what if I fail to find clients? What guarantee do I have that this will remain stable?

‍

But for those who take the plunge, it soon becomes clear that freelancing requires some effort initially to get things rolling, but then rewards you in ways a job in a firm never could.

‍

So why should a legal professional go freelance? Let's take a look at some of the hidden benefits of freelancing in legal:

‍

• Work on a variety of cases across different legal fields
• Create the schedule and work-life balance you want
• Make good money, and keep benefits
• Find a community
• Start your own practice

‍

Work a Variety of Cases and Clients

‍

Most attorneys working in a small firm don't have room to take on different types of cases. If the firm does tax law, that's what you do. Even at a Big Law firm, you may only be working on one or two major cases at a time—if that case or client doesn't fully engage you, too bad.

‍

With freelancing, you can work across any type of law you'd like: help with a legal brief for an environmental protection case today, then do discovery for a large contract law case tomorrow. You decide the projects you take on. What's more, you decide the clients you work with, so if there's a client you enjoyed working with (say, that high-growth startup in North Carolina, or that legacy brand in Seattle), you can work with them again and again. Conversely, if there's a client that you didn't have the best experience with, you never have to work with them again.

‍

Flexibility, Flexibility, Flexibility

‍

Are you more night-owl than early bird? Maybe you just become a zombie during the middle of the day and can't get much done, or have to drop the kids off at school every morning and then pick them up every day at 2:30?

‍

If you're at a firm, your work schedule is pretty locked in and overtime is expected. Freelancing allows you to break free from that life, and create a schedule that works for you. Put in a few hours after breakfast and dropping the kids off at school, then come back for a few more hours in the evening when the house quiets down.

‍

Not only this, but it opens up a floodgate of opportunities to pursue other goals. In the freelance world, most of the roles are project-based. This means you’ll be able to dedicate your time to the areas of your expertise, and not get caught up in all the finicky tasks. Dreaming of starting a podcast, or a niche blog? The world is yours.

‍

And if working 3 or 4 days a week is better for you than 5 days—with Tuesday through Thursday being your off days—that's your choice. Plus, remote work means you can be at home this month, and in another country next month, with no need to rearrange things.

‍

Money and Benefits

One of the biggest concerns for people leaving a traditional workplace to go freelance is money. Will I make a comparable wage? Will it be stable? And what about benefits like medical coverage and a retirement plan?

‍

Good news: Lawtrades offers a benefits package. Anyone using the platform who ​​works 30 or more hours per week is eligible to switch to a W2 tax model, and qualifies for paid time off, medical, dental, and vision coverage, and a 401(k). If you dip below 30 hours a week from time to time? That's ok, you won't lose your coverage.

‍

And what about pay? Sure, a seasoned attorney at a Big Law firm in New York or San Francisco can reasonably earn mid-six-figures. Then again, the cost of living in those cities are sky-high. But working freelance can regularly bring you over $100/hr, and you can live/work anywhere.

‍

What's more, the opportunities for freelance legal work are only growing. A 2017 Altman Weil survey found that about 58% of firms used contract lawyers, while about 20% outsourced non-lawyer functions—and that was in 2017.

‍

Those figures have, by all accounts, grown during the pandemic.

‍

All this to say, there is plenty of work out there for everyone. There might be a transitional period while you figure out how to build your client roster, but stability and good money are very possible!

‍

Find People Like You

‍

While it's definitely a plus to remove yourself from office politics as a freelancer, you also get to choose the people around you—that is, your community.

‍

One benefit of using Lawtrades is that the user make-up is much more diversified than most law firms. 60% of the talent network is women, and 35% are minorities. Those figures are double that of Big Law.

‍

Find others like you, and set up a weekly coffee shop work session. Or even build a community of like-minded legal professionals who meet for happy hour. It's a great way to network, exchange tips and opportunities, collaborate, and since you're all freelance, there is no office drama, and the dynamics are so much more relaxed!

‍

Hang Up a Virtual Shingle

‍

Until quite recently, striking out on your own as a legal professional and hanging up a shingle meant tons of overhead: renting an office, taking out ads, hiring staff, etc.

Those expenses are all but gone now. Hang up a virtual shingle, and platforms like Lawtrades help you fill in the rest. No need for an office (unless, of course, you want one), and finding clients is as easy as browsing.

‍

For legal professionals who may not be ready to dive into full-time freelancing, the risks of even just testing the waters have been removed.

‍

If you've been considering leaving your traditional legal job to freelance, it's easier now than it has ever been to do so. Not only is the industry evolving towards a more remote and flexible model, but platforms like Lawtrades remove many of the barriers to branching out on your own.

‍

Freelancing can be a scary proposition, that's for sure. But the quality of life it brings, along with massive opportunity for growth and access to benefits, can be hugely rewarding.

‍

In November 2021, President Biden ordered a broad-scale workplace vaccine mandate. The mandate required employees of large businesses with 100+ employees to get jabbed or get tested weekly. POTUS hoped the rule would prevent 6.5k deaths and 250k hospitalizations.

‍

It’s an understatement that not everyone was thrilled about the idea. Lawmakers from both sides of the aisle complained of government overreach. Others asked whether the mandate was lawful, ethical or practical, given challenges around implementation and possible staff shortages in healthcare and other sectors. Lawsuits were launched by businesses, states and religious groups challenging the mandate. Many of them were successful.

‍

Finally, in mid-January, the US Supreme Court blocked the mandate in a split vote, describing it as a “blunt instrument” which did not have the support of Congress.

‍

So where does that leave businesses?

With a nationwide mandate blocked, businesses will now have to decide for themselves how to balance workplace safety with the danger of losing employees who refuse to comply. Here are some of your vaccine mandate questions answered.

‍

What are most businesses doing?

‍

After his plan turned out to be a dud, Biden hoped to persuade  businesses to introduce their own mandates by dropping a little bit of peer pressure. According to him, 1 in 3 Fortune 100 companies already require their employees to get jabbed. A survey of 6000+ US employers found that:

‍

• 2 in 3 US companies are implementing mandates
• 27% of US companies plan to require employees to be double vaxxed
• Another 18% plan to mandate triple vaxxing
• Another 18% will implement mandates but only for some staff

‍

Tech companies have led the charge with Facebook, Google, Lyft, Netflix, Twitter and others all making their mandate policies public. United Airlines, Tyson Food, Goldman Sachs, and at least 23 law firms have also issued mandates while Boeing, General Electric and Amazon have resisted or recalled theirs.

‍

Just more than half of Americans support these mandates.

‍

Will mandates lead to staff shortages?

‍

The pandemic has seen demand for legal services soar with law revenues rocketing by around 19% in 2021. Competition for talent is fierce, leading firms to up starting associate salaries by $15k. And a record number of Americans quit their job last year in what’s been called the Great Resignation. So it’s not a good time to scare off employees.

‍

Do vaccine mandates incentivize jabs or do they send staff packing? The stats say, well, a bit of both.

‍

• 17% of Americans say they will not get vaccinated
• ~15% of Biden voters who do not plan to get vaccinated say they would do so if their employer required it
• That figure is under 10% for non-voters and under 5% for Trump voters

‍

Some data comes from healthcare systems that have implemented mandates. In most cases, the proportion of employees who were terminated or quit in response to mandates is around 1%. For example:

• Kaiser Permanente lost around 2.2k employees from a workforce of 240k
• Mayo Clinic fired 700 employees from a staff of 73k

‍

For others the attrition rate was much higher. NYC Health + Hospitals lost around 2.5k of 43k workers - roughly 5% of the workforce. And more than 50k care home workers in England could walk out over a vaccine mandate.

‍

Depending on the size of your team and how easily you can replace people, losing 1% of your staff might be a total disaster or not much of a big deal.

‍

Reports suggest that the legal industry is generally a fan of the jab. One expert said in September that most law firms had vax rates of more than 85% and 11 large firms reported rates of more than 90% in a survey back in August. That number is likely to be even higher now. The same may well be true for in-house talent. And as more firms introduce mandates, talent may find there is nowhere to go to avoid getting jabbed. It’s possible that mandate related staff shortages may be a non-issue for legal teams.

‍

What do mandates achieve?

‍

Having members of your team off sick or isolating can be a major headache, especially if the virus hits a bunch of people at the same time. Getting everybody vaxxed means they’re less likely to be infected and if they do test positive they’ll probably be back at work sooner. High vax rates might also be comforting for any feeling anxious about getting back in the office.

‍

However, a mandate can sometimes backfire. One study found that some people rebelled against vaccination because they felt bullied into it by measures like vaccine passports. After all, most of us don’t like being told what to do. Companies could try using a carrot rather than a stick. Authorities and businesses around the world have offered a huge range of incentives including free desserts, marijuana joints and even a chance at winning a cow.

‍

Are there options?

‍

Companies can opt for a ‘soft’ mandate which means there are exemptions - for things like medical conditions or religious beliefs - and/or regular testing is offered as an alternative. It’s likely most people will get jabbed if the alternative (e.g. applying for an exemptions) is even slightly more inconvenient. Some companies are letting anti-vax employees work from home. Others, like law firm Katten Muchin Rosenman, have extended their mandate to clients and guests.

‍

In the UK, several major retailers have cut sick pay for unvaccinated employees. Incentives like these are a softer way of encouraging employees to get jabbed, without threatening job loss.

‍

What about local regulations?

‍

The Big Apple is one place doing things it’s own way. Former New York City Mayor Bill de Blasio introduced a municipality-wide vaccine mandate for all private sector employees in December. The mandate is actually stricter than Biden’s because it doesn’t allow for testing as an alternative. The NYC rule is not going anywhere, despite POTUS’ failure at the Supreme Court. Rule breakers can be fined up to $1k per violation.

‍

Other areas have gone in the opposite direction. In Montana and Tennessee, private employers are banned from mandating jabs. In 9 states, including Texas and Florida, employers are allowed to implement mandates but only if they provide exemptions.

‍

So what does the future hold?

‍

Some experts say it’s time to dump mass vaxxing and only jab the vulnerable. It’s not clear whether that notion will catch on. On the other hand, there’s always the danger (please no!) of another, more dangerous variant that sends officials hustling to get more needles in arms. One thing we’ve learned in the last two years is that we can’t predict the future. Companies should be ready to evolve with the time.

‍

Illustration by Alex William

‍

Dear Lawtrades community,

‍

I’m thrilled to announce that Lawtrades has raised $6 million from 100+ of the world’s top investors, customers, and operators to create an enduring legal marketplace for the next 100 years.

‍

I’d love it if you’d like / share the news here on Linkedin and Twitter.

‍

2021 was a great year for Lawtrades.

‍

We grew the team from 6 to 15. Released our iOS testflight app to beta users. Doubled the number of active engagements. Helped legal freelancers earn $12m on the platform to date.

‍

Now what does this mean for you?

‍

1. Lawtrades will become simpler, faster, and more reliable. Our product feels great today, but it needs to be best-in-class, like any other product you deeply love. I’m excited to spend the majority of this round to hire world-class engineers and designers.
2. Rebrand. We’ll be unveiling a brand refresh with a new name and logo to better reflect our 10 year vision.
3. You’ll be better supported. We believe that nothing beats the experience of being helped by a real human at every step of your journey. Regardless of how much more self-serve our product becomes, we’ll continue to invest in customer support and our own community so that each and every one of you receive the support, guidance, and education to build thriving remote legal teams.
4. We’re in this for the long-term. As a revenue-generating business and with our new fundraise, I hope you know that we’re in this journey with you for a long, long time to come.

‍

Lawtrades is not just another legaltech company. It’s a platform that reflects a new era of work on the internet. It's an entirely new form of entrepreneurship that's wild and free of corporate constraints.

‍

Our vision is to expand economic opportunity in the world by bringing every member of the global workforce online.

‍

I wanted to say thank you to everyone who helped us get to this point - our customers, our talent network, our team, and our investors - this adventure is just getting started, and we’re grateful for your early belief in us.

‍

Best,

Raad & Ashish

‍

It’s about time we accepted that remote interviews are the way of the world now. Long gone are the times of waiting nervously, going on that awkward office tour, and sitting face-to-face with your interviewer. Let’s face it, it’s a lot simpler to hop on a zoom call. That doesn’t mean everything you learned, and practiced for in-person interviews should go out the window. Even so, remote interviews demand some unique characteristics.

‍

Here’s 5 tips to take into your next remote interview, so you can score that dream job you’ve been waiting for.

‍

1. Appearance

‍

Yes, it’s still the first thing the interviewer will see. Your Appearance in a remote interview captures a bigger picture than you may initially think. Look professional, but don’t overdo it. Chances are, if you’re interviewing remotely- the job is also remote. Ditch the suit jacket, and consider something more casual. While tempting, avoid the virtual background. Yes, it’s great that you love the mountains, or want to appear to be in outer space. But they tend to glitch, and can be distracting.

‍

Pick a clean, and neutral background that is free of noise when conducting the interview. Practice the set-up beforehand so you know what you look like, and make some tweaks if necessary. Make sure you are level, centered with the screen, and have proper lighting. Spending time to ensure the set-up is interview-ready will make the interview a lot less stressful.

‍

2. Technology

‍

While some of us may be a little bit too comfortable with using Zoom these days, it doesn’t hurt to practice a rundown of the specific platform the interview is conducted over. A study conducted by the Harvard Business Review found that technology failed in 41% of remote interviews. You want to set up the best possible circumstances for it to work smoothly. We all know the stress of hopping onto Zoom and seeing the update now button, or simply not being able to enter a call due to a faulty link. Test the link, and make sure you’re on a secure wifi connection. If it’s prone to being slow, ask those around you to stay off, or maybe even rely on your mobile hotspot. Pro Tip: Google has an internet speed test that lets you test how fast your connection is. Don’t forget to test your headphones and speakers. The last thing you want is to be fumbling around with the audio settings at the beginning of the interview. By thoroughly testing everything beforehand, you’ll ensure a blip-free connection.

‍

3. Exaggerate

‍

We all experience the muffled audio, and slight blurred lag that comes with zoom - and every other teleconferencing platform. You want to look engaged, but the traditional signals (like sitting up, or responsive body language) make it tough when connecting virtually. Try exaggerating your responses a bit, with the goal of looking eager, but natural. A hand signal or two never hurts, and a smile does wonders. During a job interview you’re actually auditioning for the role. By thinking of it in these terms, it’s easier to visualize and practice what you should be focusing on. Obviously you want to exude confidence, and competency…but you also want to exude the characteristics the company stands for. Take note of the company values (maybe a quick LinkedIn search of CEOs/Notable employees) so you have an idea of what they’re looking for in a successful candidate.

‍

Of course, don’t forget to practice. Give it a go, and record yourself doing so. Many of us do not realize how fast we’re speaking when nervous. Slow down, and practice your pace- so you come across as relaxed and confident. Not to mention, slowing down will give you better clarity of thought, so you can make sure you’re answering questions thoughtfully, and not just as a jumble of filler words rifling out of your mouth. This is harder than it looks! Even the best of us get nervous during interviews, and it’s easy to fall back on old ways. Even though it seems pointless, the more you practice- the more comfortable you'll be. Play it back, and make sure it looks casual. Remember, you want to stand out for your abilities as a candidate, not for being the running joke of the slack chat.

‍

4. Read the Room (Virtually)

‍

This one is tough. Social cues are inherently difficult to read over technology, and the 9x16 screen only conveys so much. In a traditional setting, it’s easy to see when an interviewer is getting bored. There’s the tell-tale signs of paper shuffling, looking off into the distance, tapping foot, etc. Yet, there are a few ways you can virtually read your interviewer. First, it’s essential to maintain eye contact. Keep in mind… to maintain eye contact over a video call, you’ll have to look into the camera, and not on the screen (we know…this one is tough!). Maintaining eye contact will demonstrate your interest in the interview, and maintain the interest of the interviewer.

‍

If you are answering a question, and their eyes start veering off into the distance- they’re probably bored. Wrap it up, and move onto the next subject. This goes for yourself too. Try not to read notes when answering a question. You want to have all notifications silenced, and ideally have all other tabs closed. If you want to reference your CV, or resume try printing it out- and be honest about using it. It’s obvious when you are switching between tabs on your computer, and can deter the interviewer. By printing any necessary info out, you can quickly glance over to reference when needed without looking distracted or disengaged. Besides, the interview will flow more conversationally, and you’ll better keep the attention of the interviewer.

‍

5. Ask Questions

‍

A traditional workplace setting is very cut and dry. You know the hours you’ll be working, what desk you’ll be working at, and how you’ll communicate with the team. Online work is a bit tricky. There’s a plethora of workspaces the team may use (like google workspace, notion, microsoft teams), as well as means of communication (slack, telegram, discord, email). Many companies use multiple interchangeably, and there’s often several ways teams communicate with each other.. ask upfront. You don’t want to come into a new job fiddling with several tabs and constantly pinging your coworkers- or not pinging them enough. Not only these, but ask questions to try to understand what a day in the life of the job looks like, how success is measured, and how a team culture is maintained. Make sure it is a good fit for your career, but also your desired work-life balance.

‍

By asking questions particular to remote, or online jobs-you’ll gain a step up to the other interviewees who may have never worked remotely before (even if you haven’t either!). If you’re working a part-time, or project based role- it’s even more important to gain a sense of the expected working hours, and deadlines…since you may be juggling multiple at the same time.

‍

What about Legal?

‍

Interviewing for remote-based legal jobs may have seemed like a long-off dream years ago, but the remote-based legal job market has been flourishing as of late. Legal remote hires often happen at a quicker pace than the traditional process you may be familiar with. Whether the company is looking to hire someone to tackle a specific gap, or simply for additional support- be confident, personable, and ready to jump in.

Be honest about your availability and what hours you’ll be online for. Decide what your perfect work-life balance looks like, and be upfront about it. The working culture in legal can be a bit cumbersome, but if you left your Big Law position to have more flexibility, make sure to discuss that. And, if you’re interviewing for a project-based position, be ready to provide estimates on time frames. Most importantly, ask the questions you need to be 100% comfortable with remote-based work. This may be your first remote-based role in legal, and it can be strikingly different from what you’re comfortable with.

‍

Whether you’re looking for a full-time position, part-time gigs, or project-based remote opportunities in legal, Lawtrades is here to help. We offer all the resources you need to build your perfect remote working environment, and have a generous network of amazing clients you can work with.

‍

If you want to find out more about Lawtrades, feel free to set up a call with our amazing team here.

‍

If you've been following the tweets of Elon Musk, Jack Dorsey, or other tech insiders, you might have already heard the term Web3 (or Web 3.0). But what does it actually mean? And how might the next evolution of the internet affect you and your business? Let's take a look.

First of all, what even is Web3?

‍

Well, if the early Internet (Web1) was a decentralized place that people were just figuring out, Web2 was when companies like Google, Facebook, and a handful of others came in to centralize everything through their platforms. Looking for a webpage? You go through Google. Consuming content? Probably through Netflix or one of Facebook's arms. We may be returning to a more decentralized Internet, however, with Web3. How? By using technologies like Blockchain and networks like Ethereum, the Internet is evolving back to a more egalitarian model outside the control of a few companies and their VC backers. Let's unpack what these technologies are a bit.

‍

Without getting too technical, a blockchain is a data ledger that is built in such a way so that it cannot be changed or augmented retroactively—therefore, it is considered "non-fungible". Any piece of information can be tagged as a "token" (say, a photo, or a webpage, or a unit of digital currency, or a sharable user profile). When this token's metadata is built as a blockchain, it is considered a "non-fungible token" or NFT. So, if I transfer a token to you, and the blockchain data is updated to reflect that, it cannot be changed later to erase the transfer. If you were to go back in and change the data chain, it would effectively destroy the entire token.

‍

Furthermore, the blockchain data of that NFT is stored on a digital network, but it is not stored on a privately-owned cloud. Instead, it is stored in a decentralized way—through global networks like Ethereum. These networks have no single server, but encrypt and replicate the data across every node in the entire system. If 100 people are part of the Ethereum network, then whenever data is updated, it is updated on all 100 nodes with each node serving to validate all others.

‍

What do people say about it?

‍

"[T]here is no CEO of Ethereum or Bitcoin, and teams working on building and maintaining the protocols are global communities eschewing central leadership," writes Roman Kropp, Managing Director at tts Transformation Consulting GmbH. By working together to ensure the success of Etherieum and blockchain technology, all players bolster its value and share in the reward—there is no company or investor at the top extracting the value.

‍

This ability to circumvent players like Facebook and Google and the massive profits they glean is creating a new vision of the Internet and beyond. However, not everyone agrees with this picture. Jack Dorsey argued in a recent Twitter thread that institutional blockchain investors are already swooping in to capitalize on Web3 infrastructure. Dorsey stated that "you don’t own ‘web3’. The VCs and their LPs do. It will never escape their incentives.”

‍

What does it mean for businesses?

‍

Regardless of the role of the investor/VC in current or future technologies, blockchain and decentralization will continue to reshape the Internet over the coming years. For businesses, it further stands to reshape the nature of hiring and of work itself. The most evident changes will be in two key ways: attracting and on-boarding talent, and in equity/compensation structures.

‍

First, let's look at equity and compensation.

‍

Millennials and Gen Zers are less inclined to follow linear career paths. Instead, they are pursuing fulfillment and purpose and are looking for work that aligns with their values—rewarding them in the process.

‍

“Web3 companies are poised to capture much of the young talent since Web3 ethos is about collaboration, cooperation and reciprocity,” En Canada, a Web3 community leader, recently told Forbes. And these companies will not only attract young talent with Web3 tech, but reward their collaboration with shared equity in the form of tokens. These tokens issued by the company/project will incentivize contributors to further its success in order to increase their value.

‍

How does this work in a real-world setting?

‍

Raad Ahmed, founder and CEO of Lawtrades, points to cryptocurrencies themselves as a test case. As he explains, they distribute tokens to users and/or allow anyone to buy tokens, which then creates direct community ownership leading to a sense of responsibility for the project's success and ultimately higher retention in the form of usage.

‍

Tokens are not limited to the realm of cryptocurrencies, of course, and companies should embrace the technology as a way to link employee ownership with contribution and collaboration to increase value. As Ahmed notes, Braintrust Creative has already begun implementing this model by building an online marketplace for talent that has users transact in dollars, but utilize a token built on Ethereum for incentives and governance system.  

‍

Tokens also allow for far more transparency and ease of exchange than traditional equity shares. No more byzantine ownership structures and shareholder vs. stakeholder conflicts. Of course, NFTs remain unregulated, which poses some challenges and risks to be worked out as the infrastructure becomes more widely adopted.

‍

With that being said, however, Web3 won’t just revolutionize financial incentives for work—it will revolutionize our digital identities. Most notably, hiring practices will change.

‍

How will it change the world of hiring?

‍

Today, most corporate hiring relies on two main tools: the interview and the resume/CV. But these are outdated practices—relics from a pre-digital age, to say nothing of their major flaws. Not only does an interview open the door to discrimination, but not all good candidates are good interviewers (and vice versa). As for resumes and CVs, work histories can be exaggerated if not flat out fabricated. With the rise of remote work (a trend that will only continue to grow), Web3 enables us to move past antiquated HR practices and streamline hiring.

‍

“How it will work: you apply for a job, it scans the blockchain and rates your set of on-chain experiences and credentials, [and if it's] above a certain rating, you’re hired within 60 seconds,” explains Greg Isenberg, CEO of a Web3 design firm. “No prejudice, no wasted time, no pain.”

‍

It’s an attractive idea. No more middlemen like recruiters or job sites. No more guessing about a candidate and going through the lengthy process of verifying their history. Acquired a new skill? Add it to your “resume chain”. Promoted at a job? Get it on there.

‍

But maybe resumes themselves will become obsolete in favor of a new system—a digital ID token of sorts. "Who you know (connections), and showing your work (a portfolio), will be greater than your resume," adds Raad. "Recruiters and job seekers will pivot to 'Proof of Talent'."

‍

That's a shift that will remake traditional HR. As Kropp notes, “with all my encrypted master data safely stored on the blockchain, I can provide a unique digital ID to anyone I do business with. No need for my counterparts to obtain – or, god forbid, store in their data base - information on my location, sex, race, or age.” Digital ID token can enable near-instantenous on-boarding while minimizing discrimination and candidate risk, and significantly reduces HR costs in the process.

‍

Let's go one step further: the very infrastructure of employment—insurance, healthcare, retirement, taxation, and more—will be redefined by Web3. According to Kevin Owocki, founder of a Web3 crowd-funding site, "as the IoJ [Internet of Jobs] grows, new infrastructure will emerge that handles these attributes." And as that infrastructure appears, is adopted, and evolves, more and more people will join the IoJ creating a positive feedback loop.

‍

What about legal?

‍

For the legal community, however, Web3 poses both opportunities and challenges. Blockchain technology and platforms like Ethereum have no real government regulation and the legal precedent around disputes is very thin. The very properties that enable decentralized blockchain technology also make it hard to govern. For example, under what jurisdiction is an NFT if it exists on every node in a blockchain network (which may be spread across every country on earth)? What’s more, best practices around integrating blockchain technology into contracts and legal cases is yet to be established.

‍

"It will likely be difficult for any organization that has to ensure effective risk management to consider a purely permissionless blockchain system without some additional protections," John Salmon and Gordon Myers note in a report for the International Finance Corporation. "Regardless of the model adopted by those seeking to use blockchain, it is important that regulators remain flexible in their approach to this emerging technology—and avoid viewing it through a lens designed for more traditional, centralized platforms."

‍

It's clear that as Web3 develops and more organizations adopt its protocols, the transition will require constant adjustment and management. However, for those who navigate this new technology well, there stand to be exciting new potentials and massive opportunities.

‍

New Year, New You…New Year, New Career? Fluctuating variants, the precarity of rising inflation, and the popularity of the Great Resignation has made many seriously consider leaving their lackluster careers. For good.  

‍

People want more flexibility, a better work-life balance, and to put it simply- to have control over their lives. The average employee is seeking a hybrid work model, looking for part-time interaction, and the ability to work remotely. It’s not surprising that many employers are failing to meet these needs.

‍

Quite frankly, people are burnt out. The striking imbalance between what employees want, and what employers are willing to give is the cherry on top of the cake. One viable cure? Quitting. Saying no is becoming increasingly fashionable, and quitting is now considered as the ultimate form of self care. But as we all know, it’s easier said than done. Don’t give up hope just yet! By carefully strategizing an exit plan, you can put yourself in the best position to find that dream engagement, and finally let the door slam on that less than ideal job.  

‍

What about Legal?

‍

Well, the world of legal has not been spared. The legal profession is undergoing drastic changes due in part to the interruptions Covid has left behind. Big Law has traditionally offered better compensation and benefits, but they’ve experienced a lag in progress that’s left lawyers looking elsewhere. And, when some companies tried to make a return to office mandatory...they were swiftly faced with a surprising number of employees who resigned.

According to Attorney at Law Magazine, large numbers of lawyers have quit due to the treatment they have received from customers, management, and law firm partners…basically all major stakeholders! Management strategies and employee incentives of the past have done little to retain associates in 2021. Big Law firms are desperate to retain top talent, and some have even looked toward Canada to fill vacancies. Let’s not forget that many large firms have increased starting associate salaries to $205K this summer, which is up an ample 10% compared to last year.  

‍

So, where are they going? More and more legal professionals are seeking flexible arrangements that allow them to maximize their work-life balance. Lawyers are opening their eyes to building their own solo-practice, so they can take charge of their career- and lead it in the direction that best suits their needs.

‍

Practical tips on how to resign

Let’s face it, quitting can feel like jumping into an unknown abyss. There are endless potentialities, and it seems like a logistical nightmare. Of course, you’re asking yourself: How soon can I land another job? Can I afford it, and for how long? Is it even worth it? Shall I just stay put?

‍

In an ideal world, you’d have your dream job lined up before quitting your current one. But that’s not an option for most. If you’re truly seeking a change for the better, the process will take time…but it doesn’t have to be as arduous as you might think.

‍

Here’s what you can do to plan your escape.

‍

Step 1: Decide what you want
‍

Sure, it sounds simple. But you need to spend time on this. You’ve already been dreaming about leaving your current position, although it may seem like a jumble of mini rants about what you hate about your boss, your coworkers, or the job itself. Start taking note about what you dislike, so you can search for the exact opposite. Thoroughly consider what’s not working at your current job, and what you are non- negotiables for your next position.

‍

Try out the tactic Robin Arzón (former corporate lawyer turned VP of fitness at Peloton) used to switch out of her 80-hour workweeks in Big Law. She blocked off 10 minutes a day to figure out her next career move. It makes it less daunting, and can aggregate into something real over time.

‍

Step 2: The Financial Stuff

‍

This is the most crucial step for everyone. It’s the breaking point between a plausible exit, or staying financially stable but unfavorably stuck in your current role. It may even be the reason you want to quit…We’re not going to sugarcoat it. It’s a touchy, and outright scary topic.

‍

Be prepared to leave financially, the moment you give notice. In fields like legal, the confidential nature of the work may result in being asked to leave right away to protect internal information. Make sure you are able to cover at least three months’ expenses. Take a minute to review all the benefits you’re currently under, and consider if you can live without them for a bit. You may have to take a bare-bones approach before landing something new.

‍

That’s all fine and dandy in a perfect world. The reality is that many are not able to afford that. A more feasible alternative? Consider moonlighting as a starting off point. By working part-time roles, you can explore opportunities that better suit your interests, and save up so you can secure the financial stability to actually take the exit. Just make sure to read the fine print so you know if it’s within your company’s policy.

‍

Step 3: Clock Out, for good

‍

So you’ve done all the upfront planning, and your goal date is fast approaching. You have another job lined up, or are taking some time to land your perfect role. Either way, it’s finally time to say farewell! Make sure to give plenty of notice. Although the standard is two weeks, it may be beneficial to give your current employer more leeway. After all, it’s in your best interest to leave on good terms…even if you’d rather make that dramatic, rage-filled exit we’ve all fantasized about.

‍

Give notice the right way. The formal way to call it quits is through a resignation letter delivered either face-to-face, or via a video call. Be direct about it. State your reason for leaving, when you are leaving, and a closing statement with some form of gratitude for the opportunity. Keep it cordial, after all- you want to secure that recommendation letter.

‍

Plan as best you can to make the transition smooth for all parties involved. Make sure you’ve tied any loose ends, and briefed your coworkers on any important to-dos. You never know who you’ll work alongside in the future, so it’s important to leave a positive impression. Say a formal goodbye, and let that chapter (finally!) close behind you.

‍

Quitting takes guts. If you’re looking for the opportunity to finally cultivate that perfect work-life balance, or looking to moonlight for a bit before landing that dream gig- now is as good as timing will ever be. At Lawtrades, we’re pros at getting you hired. We offer part-time, full-time, or even project-by-project opportunities. What’s more? You have the freedom to choose the hours and rate you deserve.

‍

➕Join our network today

‍

Background

‍

Meet Sheilla! Hailing from Nashville, she began her career in Law in Louisville, Kentucky in 1993. And, she’s had quite the unconventional path into law. After working for more than 10 years in the hospitality industry, Sheilla quit her job after upper management refused to train her for a higher position. One of her regular customers caught her on her way out, handed her a business card, and the rest was history. Just three days later, she walked into a legal secretary position with an oil company. Sheilla prides herself on being an “old-school” paralegal (she never attended formal classes 🤯) and was trained by some of the best transactional attorneys in the southeast. From contract review and negotiation, to data room set up and repository management- Sheilla continues to grow her passion for Legal and Legal Operations.

‍

Path to Lawtrades

‍

After Covid hit, Sheilla decided she wanted more flexibility and full-time remote positions. She lost appeal in going into the office, and was interested in the wide range of opportunities she discovered through Lawtrades. Sheilla connected with our amazing talent coordinator Melissa, and worked together to find the perfect fit for her talents. Now with several years of experience under her belt, Sheilla feels freelancing suits both her curiosity and her insatiable desire to continue learning and growing her talents.

Success with Lawtrades

‍

Sheilla is still relatively new to the Lawtrades community, but she’s already been able to expand her talents through Legal Operations for a mature start-up, and assist with a global corporate restructuring project. She’s got big plans for 2022. She’s looking forward to continuing to expand her talents freelancing with Lawtrades, and is hoping for another good landing spot in the coming year.

‍

Flexible Working Hours

‍

Lawtrades provided Sheilla the flexibility and opportunities that are above and beyond what any other firms are offering. She’s culminating that perfect work-life balance by devoting time for her passions: cooking and playing golf with her husband. A master home cook, Sheilla loves trying new recipes and bakes some of the most scrumptious cookies on the planet (Her gingerbread boys with a bite are the envy of all cookie swaps 🤩).

Better said in her own words:

‍

“Lawtrades has allowed me to have flexibility and to devote my time where I choose to devote it. The project based opportunities that Lawtrades provides allows me to grow and to thrive and never be bored with the same routines. I appreciate the Lawtrades Team and look forward to a long and lasting relationship!”

‍

Want to further your career? Looking to manage your own time while working with amazing and notable clients? Join our talented community, just like Sheilla did!

‍

In May 2021, Anthony Klotz, an associate professor of management at Texas A&M University, told Bloomberg Businessweek, “The great resignation is coming.” The term clearly resonated with a lot of people. It’s been bouncing around news headlines, LinkedIn blogs and Twitter feeds ever since.

Data suggests Klotz’s prophecy is coming true. A record number of Americans said adios to their employers this April. That record was broken in July and again in August. In September, it was broken a fourth time when 4.4 million people - or roughly 3% of the workforce - resigned, leaving behind an unprecedented number of vacancies.

‍

The trend doesn’t seem to be over yet. The subreddit ‘antiwork’ is fast becoming one of the top-ranking Reddit communities. According to data from Gallup, almost half of Americans say they are actively seeking new roles while 73% of respondents to a survey by job search site Joblist said they are considering quitting in 2022.

‍

So why is this happening? And how will The Great Resignation impact the legal industry?

‍

Hasta la vista, baby

‍

Most of us have worked jobs that made us fantasize about marching out in dramatic style (a bit like this brave/foolish Walmart worker who quit over the store intercom). Here are some of the reasons why more people than usual are chucking it in.

‍

1. The Great Reconsideration

The pandemic took away lots of things that we care about and gave us plenty of time to think. It also gave many of us the chance to experience working from home. All this has shifted our priorities and changed our attitude to work. Employees are demanding flexible, hybrid work models and improved work-life balance and they’re willing to move jobs or exit full time employment to get it. In the UK, for example, 1 in 4 employees (and 1 in 3 millennials employees) plan to quit if their boss makes them return to the office full time. Around 2 million Americans became freelancers in the year to September 2020 and freelancers now make up 36% of the workforce.

‍

2. Burnout

A survey of 1000 US employees found that 89% are burned out. Professionals who switched to working-from-home during the pandemic saw working hours creep further and further into personal time. 70% report that they now work on weekends and 45% say their working day is longer than it used to be. It became tricky to distinguish work from homelife when we were forced to spend all our time in the same space. Plus, it’s easy to squeeze in more work when there are no chats at the watercooler or walks between meeting venues. With employees furloughed and resigning, those who kept working found themselves working ‘superjobs’, covering multiple roles while employers couldn’t (or wouldn’t) fill the vacancies.

‍

In France and Portugal, the government acknowledged the extent of the problem by making laws that prevent employers from contacting employees outside of working hours. Some companies shut down entirely for a week to give their staff a break. For those who weren’t so lucky, 2021 seemed like a good time to drop the mic.

‍

3. Catching Up & Calling It a Day

It’s likely that people who would have jumped ship in 2020 delayed because stability is attractive in unpredictable times. Now those pent-up retirements and resignations are all happening at once. There have been 2.4 million ‘excess retirements’ since the start of 2020. In addition to those who delayed, some baby boomers are calling it quits early to avoid exposure to the virus or the headaches of adapting to hybrid working. Employers looking to keep things lean likely encouraged them.

‍

So what’s happening in legal?

‍

The legal industry has not been spared. According to the Bureau of Labor Statistics, over 700k lawyers and other business professionals quit their jobs in just 2 months of this year. That’s the most since 2001. Some of that number are Big Law associates moving between firms. In fact, Big Law collectively has retained 17.71% more of its attorneys in 2021 compared to 2019. Major firms lured talent by upping starting associate salaries from $190k to $205k and giving senior associates bonuses of $100k. But reports suggest that, despite these incentives, some lawyers are leaving firm life altogether.

‍

Recruiters have seen talent move from traditional law firms towards boutique firms and non-traditional employers. Smaller firms are better placed to offer work models customized to the needs of individual employees. Like the droves of lawyers going freelance, employees heading to boutique firms are seeking job satisfaction and a better work-life balance.

‍

The hemorrhage hasn’t been helped by a massive increase in demand for legal services. Big Law revenues rocketed by 11% in 2020 and around 19% in 2021 and top firms have seen partner profits exceed $6m. One firm claims demand for their services grew by 20%this year. One of the practice areas seeing the most activity is transactions after the pandemic forced companies to re-evaluate their priorities. Firms were ill-prepared for this boom. Why? Well, between 2019 and 2020, associate hiring almost halved as the initial shock of the pandemic caused fear that work would dry up.

‍

As a result of talent shortages, Big Law firms are casting a wider net, seeking out associates not only from fellow Am Law 50 or 100 firms but from local and regional outfits. They’re even recruiting from Canada and Australia, and considering graduates from less prestigious universities. They might be glad they did so. Research suggests that workplace diversity is linked to financial success.

‍

What about in-house teams?

‍

In-house legal teams are also suffering the impact of the resignation phenomenon but they may ultimately benefit. There is a surge in vacancies for in-house roles. Resignations are particularly high in tech which saw an increase of 4.5%. Demand for tech exploded during the pandemic, leaving tech employees particularly burned out. According to one report, 72% of US tech employees are considering resigning in the next year. But tech companies are more compatible with flexible and hybrid working models than law firms. Many have been working this way since before the pandemic. In-house teams could capitalize on lawyers fleeing Big Law by offering environments that prioritize talent’s well-being - although it may stretch their budgets to compete with Big Law salaries.

‍

What’s coming next?

‍

The arrival of Omicron is a reminder that the pandemic is still with us. 493,000 more women than men have gone missing from the workforce since the start of the pandemic, partly due to additional child care duties. They’re unlikely to return while school closures are still on the cards. Some industries - like air travel - are yet to fully reopen which means that even more vacancies could flood the market. On the other hand, pent-up resignations from 2020 have likely taken place by now and rising vaccination rates may give more people the confidence to return to work. Some even say the Great Resignation is not evident in the data and it’s all just hyped up clickbait material.

‍

Klotz (the ‘prophet’ of the Great Resignation) predicted another phenomenon: boomeranging. Some firms report boomerang employees, who quit to seek a better lifestyle and were lured back by juicy hiring bonuses. But it’s likely the shift in our attitude to work is less like a boomerang and more like a one way flight. In 2020, 100people left the NY metro area for every 84 that moved in. The pandemic pushed people out of cities towards suburbs and small towns that offer more space and a more relaxed lifestyle. Moving house is a strong indication that you want your life to change in a permanent way. Lawyers, like the rest of the workforce, are saying a big ‘no thank you’ to the traditional workplace.

‍

Freedom, flexi and freelance, here we come.

‍

Amy Ye joined Lawtrades earlier this year to work on our people team. Hailing from New York City and currently residing in Houston, Amy brings HR experience from financial and recruitment industries. Let’s get to know her a little better!

‍

Can you share two interesting facts about yourself?

‍

I absolutely adore cats and want to have a garden…but am terrified of anything with more than 4 legs 🙀

‍

How do you like to spend your weekends?

‍

A perfect weekend would be sleeping in 💤 on Saturday, and then deep cleaning on Sunday.

‍

What is the most unconventional job you ever had?

‍

I’ve had quite standard jobs so far…but I do cat sit on the weekends which can be unconventional when the cats in question have special personalities!

‍

Why did you choose to join Lawtrades?

‍

Not knowing too much about the legal field, my mind was blown when Ashish told me Lawtrades was going to be like the Uber of legal, for attorneys to have the ability to do what they do best and have the ability to take care of things in life. I’ve always known that attorneys work long hours, so it was great to know that at Lawtrades, they aren’t so trapped in that traditional role we’re used to seeing them in.

‍

What are your primary responsibilities?

‍

I work closely with Jerry with overseeing Lawtrades’ People Operations functions.

‍

What are you most looking forward to in this position?

‍

I can’t wait to see Lawtrades grow, and I’ll be able to turn back and see all the contributions I’ve made.

‍

Where do you think you help the most in this position?

‍

I love answering everyone’s questions on Benefits, PTO and Payroll! The feedback really helps as we’re working to make improvements to all of the moving parts in our system.

‍

Well, November went by quickly! We wanted to give you an update on what’s happening at Lawtrades, from another practical workshop around commercial contracting to an in-person off-site!

‍

📅 November was a month of growth (and turkey!)

‍

Lawtraders logged 5,994 hours in November and close to 100 new talented users joined us. That means our network now includes over 1,300 top legal professionals from around the world, with new talent signing up from the Netherlands and Ireland. If you are looking for legal support in these countries, click below.

‍

Post a position!

‍

‍

Our clients have been doing a lot of hiring! Here’s a quick peek at the types of roles hired for in November, with Attorneys being most prevalent but Contract Administrators and Legal Operators are on the rise compared to earlier in the year.

‍

‍

We held an interactive panel discussion: It was all around Practical Commercial Contracting for In-House Teams. Kathy Zhu (Senior Director, AGC at DoorDash) moderated an informative discussion with Hylan Fenster (Director, AGC at Adobe), Hayley Gonzales (Managing Counsel, Affirm) and Ariana Goodell (Legal Director of Commercial, Branch).

‍

View replay!

‍

We also attended the Tech GC Global Summit in NYC. It was great to see so many of our clients in-person and we also took the opportunity to plan a team off-site, with Melissa, Josh and Rob flying in to participate!

‍

‍

Follow us on LinkedIn!

‍

💭 What’s on the horizon

‍

We know we’ve been teasing this for a while, and we’re working hard on the final touches to our iOS app to let you manage your work with Lawtrades on the go.

‍

Make a product suggestion!

‍

‍

Ever wondered how you could improve your negotiation strategies? Or what to do in a tense situation when the other side is unwilling to budge? ​Whether you are an experienced contracts counsel, or looking to get your foot in the door- we’ve got you.

‍

Our expert panel guided us through their contracting best practices and shared their experiences.

‍

Meet the Presenters:

‍

Moderator:

Kathy Zhu, Senior Director, AGC, Doordash

‍

Panelists:

Hylan Fenster, Director, AGC, Adobe

Hayley Gonzales, Managing Counsel, Affirm

Ariana Goodell, Legal Director of Commercial, Branch

‍

Key Takeaways:

‍

• Employ collaborative and open negotiating approaches\

• Work with the sales team early on and equip them with tools that will aid overall efficiency

• Learn the risks of your company, but also what the other party is trying to get out of it

• Everything is negotiable

‍

How do you get your foot in the door if you’re interested in switching to commercial transactions, but are not sure the best way to go about it?

‍

7:22-13:28

‍

Ariana, “Privacy is essentially a cornerstone skill set for any commercial counsel these days”

I had to proactively seek out opportunities to build up a skill set that would be transferable In-house.

‍

Hylan, “Be open, and follow your interests... or move away from something that doesn’t interest you”

Work on the skills needed to get the job. Keep up networking- it can open up opportunities to branch out in your career.

‍

Kathy, “Be the architect of your career”

If you know something doesn’t feel right- you don’t have to be stuck there forever.

‍

How do you typically engage with your counter-party when negotiating contracts?

‍

15:04-20:34

‍

Hayley, “I always recommend starting off on a partnership-oriented, collaborative approach”

Think about standard social approaches, you don’t want your counter-party to feel weary from the start. Try to always get something for everything that you give.

‍

Ariana, “My team employs interest-based negotiation”

Understand the power dynamics, and try to find the why behind the ask. Build up rapport with negotiating partners, as they’ll be more likely to compromise so you can come up with creative solutions.

‍

Are there any personal habits or practices to follow to make negotiations more effective?

‍

20:34-26:30

‍

Kathy, “The best commercial lawyers know what issues matter and which are immaterial”

Understand the risks particular to the business. Spend the time to embed and talk to business teams, and counterparts.

‍

Ariana, “Anticipate what the other party is going to argue back”

Think of several responses and plan the response to those, and keep going as long as you can. Deeply understand the risks associated with your company, but also understand what’s important for the other party.

‍

Hylan, “Switching when the other side switches first”

Going in openly is the most effective strategy, but sometimes you need to hammer the issue that’s the most important.

‍

When has the “Give-Get” tactic worked the most for you?

26:30-31:32

‍

Hayley, “Think about what is a must- have for the negotiation, moderate risk, and nice-to- have”

Be ready to trade the “nice- to- haves” in exchange for “must- haves”- it can move the needle in the critical part of the negotiation.

‍

Kathy, “Even in instances where you feel you have no leverage- they still need your product or services”

Understand what is in it for your counter-party, and what they are looking to get out of it. Build up a great rapport with your sales team so they can get legal and business terms through the door before you step in.

‍

How do you work effectively with sales teams?

‍

31:32-37:16

‍

Hayley, “When I started to bring the sales team along with me, they became the strongest ally for legal”

Educate your sales team, and form that partnership so they can identify pertinent issues in other deals.

‍

Ariana, “It’s not just the doing of the legal team”

Having a deal-desk function has helped form a relationship between sales and legal. They can be immediately helpful in situations that things aren’t in legal purview, and prioritize all of our deal work.

‍

Kathy, “It’s important to create additional leverage in your team”

Focus on the work that no one else can do- and outsource the other stuff. We’ve leveraged Lawtrades for overflow work so that my team can focus on the highest value sales deals.

‍

What efficiency aids and technology platforms do you leverage to create more bandwidth?

37:16-44:20

‍

Hylan, “We’ve empowered our sales-legal team to become product specialists”

It’s very hard to know a lot about all the products we have. We leverage those product resources and job aids to build and match up expertise.

‍

Hayley, “Collaboration and knowledge sharing is so important”

We’ve created annotations for the business. It’s a quick reference that anyone from the company can access. We share knowledge at team meetings, and keep on-going communication.

‍

Ariana, “It’s helpful to have that collateral immediately available”

We utilize Guru, a knowledge base software where you can create and memorialize institutional knowledge. It makes it so much more accessible to new team members coming in.

‍

What mistakes have you made?

‍

44:20-49:13

‍

Ariana, “Embrace failure as an opportunity to be better in the future”

Make sure someone on the ground within the company is driving the deals. Consider employing a legal primary that owns the deals from beginning to finish and who can make strategic calls for the business when necessary.

‍

Hylan, “Don’t fake it if you don’t have an answer”

Faking is both confusing and a bad path to take.

‍

Hayley, “Sometimes commercial is the last to know”

Try to get more entrenched in other parts of the business so you can be a strategic partner early on and be one of the first stops, rather than the last.

‍

What are some strategies to get customers to use your paper?

‍

49:13- 52:15

‍

Ariana, “Equip your sales team with talking points about why going with your paper is faster...but go beyond that”

Assess what your average deal size is. You shouldn’t be putting in above average work amount for any deal that is below average in terms of revenue .

‍

What do you look for when you are interviewing candidates for a role on your team?

‍

52:15-55:35

‍

Hylan, “I want to see who is going to be a fit for the team.. and who’s coachable”

Of course, you want to ask about privacy expertise and negotiation style- but make sure they are a good overall fit that can grow with the team.

‍

Hayley, “Someone who is capable of having a million fires thrown at them during negotiation is someone I would love to hire”

You need to find someone who is not going to take negotiations personally, someone who is proactive, and someone who can see the bigger picture.

‍

At Lawtrades, we have a diverse talent network from around the world. Check us out the next time you’re looking to hire flexible legal professionals.

Want to join our exclusive community of in-house leaders where you can network with like minded legal professionals and share best-practices? Apply here!

‍

The cryptocurrency boom may once have been nothing more than the futuristic ravings of your eccentric, tech-obsessed friend but now it’s real. The crypto market is worth over $3 trillion and adoption of the technology has risen 881% year-on-year. Authorities are hustling to catch up. China has banned all crypto-related transactions. Congress has proposed 18 crypto-related bills this year. And the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is described as having launched a ‘war on crypto’.

‍

Here’s what to watch for in the coming months.

‍

The infrastructure bill row

‍

On 5 November, the government passed a $1.2 trillion infrastructure bill. It includes two sections that have made the crypto industry unhappy.

‍

The first requires crypto brokers to report more information about their activities to the IRS. Industry advocates have complained that brokers don’t have the information required to comply with the new rules because they can’t see into customer’s private ‘wallets’ and trades can happen outside of the exchange. There are also complaints that the definition of the word ‘broker’ is too broad. According to the wording of the bill, groups like crypto miners and software developers could be classified as brokers although they do not facilitate transactions and could not comply with the new law.

The second controversial section has to do with tax code 60501 to include digital. If you’ve ever seen a movie about money laundering or match fixing, you’ll know that cash payments of more than $10k have to be reported to the IRS (which is why the smart crooks bet $9999 at 10 different casinos). That’s tax code 60501. The new bill extends this tax code to include crypto payments. For many traders, the appeal of currencies like Bitcoin is that you don’t have to go through a bank or any other kind of financial institution. But banks are better set up to deal with tax requirements like 60501. The new law could undermine some of the defining features of the crypto movement.

‍

The crypto community have not sat quietly and watched this happen. Campaigners Fight for the Future say their campaign to change the bill generated 40,000 calls to legislators and 10,000 tweets. The bill passed anyway and is due to come into play from January 2024. You can expect to see a continued push for changes.

‍

The SEC wants crypto, dead or alive

‍

The SEC Chair Gensler has described the cryptocurrency markets as the “wild West…rife with fraud, scams, and abuse.” Americans lost $80 million to crypto scams in the 6 months to April 2021. Gensler says he wants crypto platforms to register with the SEC in order to keep them in line. This is controversial but Gensler is determined. The SEC are suing Ripple, a crypto start-up valued at $10 billion, for failing to follow their rules.

‍

New, trending products may appear to sidestep SEC regulations but it may not be long before they find themselves in the firing line. NFTs (Non-Fungible Tokens) are unique virtual tokens that can be used to represent physical assets, like art or sports memorabilia, or used digitally, for example as objects in games. The SEC has warned that some NFT traders may be breaking the law by assuming that regulations do not apply to these products.

Another trend that finds itself en route to legal trouble is DeFi (Decentralized Finance). DeFi describes a range of blockchain-based financial products such as loans and insurance that replaces middlemen like banks and insurance brokers with software. Currently DeFi is unregulated but the SEC has started cracking down on major players. Crypto exchange Coinbase has canceled a new product after a telling off from the SEC and Uniswap Labs, the developer of the world’s largest decentralized exchange, is under investigation.

‍

DeFi is really challenging to regulate. It’s global, anonymous and doesn’t interact with any of the carefully managed structures that traditional financial products are connected to e.g. banks, the tax system. Authorities are likely to have their hands full working this one out.

‍

Reigning in stablecoins

‍

A recently published report, originally commissioned by Donald Trump, warns that a category of cryptocurrencies called stablecoin are a threat to users and the broader economy. Stablecoins are blockchain assets that are pegged to a reserve asset like gold or the US Dollar. If I created a stablecoin currency called LawTrades, for example, I could peg it to the Dollar and one LawTrades Coin would always be worth one USD. As the name suggests, the value of this kind of crypto is way more stable than currencies like Bitcoin which are known for being erratic.

‍

Stablecoin has grown 500% in the last year and some experts predict we could soon be using it for our daily transactions. Regulators are worried that they are not as stable as they claim to be and the collapse of one stablecoin currency could be contagious.

‍

Congress won’t pass any laws overnight but regulators are doing what they can to reign in stablecoin companies. Last month, Tether, the largest stablecoin, was fined $41 million for not having sufficient reserves to claim it was backed by US Dollars. You can expect to see regulators take more action in this area.

‍

What does this mean for the industry?

‍

Increased regulation could protect investors and allow the industry to thrive. It could prevent fraud and reduce the danger of a platform going bust or getting hacked. Clear rules and a clean image could also attract groups like banks and investment firms to crypto. On the other hand, too much regulation might scare crypto traders away to other countries. Most of them will want to keep trading in the US because there is plenty of money to be made here, but they’ll have to work with regulators to find solutions that work for everyone.

‍

And us? Although we can't offer you a piece of our own stablecoin… we can offer BigLaw caliber talent at less than half the cost with reduced management overhead using data-driven automation and distributed teams. Want to give us a go? Create a position!

‍

For all the wrong in the world, we live in times of progress. Yes, the age of information has propelled us forward, yet we find ourselves at an inflection point. Some look to our institutions and corporations for direction, while others remember their failures and choose to distrust their motives and methods.

‍

Regardless of where you stand, we tend to overlook that these institutions are made of individuals like us. Human beings who are bound by policies & procedures, struggling to keep their income, and drained, much like their phones’ battery, by the time 6pm rolls around.

‍

We can complain about broken organizations all day long. But the only way for a culture to change is for the people to lead it. So why not aim to do better? As a result the collective will improve.

‍

Here’s a list of ideas to improve your organization from its core (the individual), and promote a culture shift towards an even better future.

Train someone to replace you

‍

Many people live in a state of fear that someone will come along to replace them. That fear often drives them to play dirty politics and keep the secrets to their success just that...secret. But where does that get the organization as a whole?

‍

Sharing what you know works just as well for seniors as for juniors. Your team will function better as a result, creating positive internal PR for both you and your department. Don’t underestimate what it could lead to externally. There are benefits often realized years later and jobs later in one's career.

‍

Give someone who doesn’t look like you opportunity

‍

Recently companies established internal Diversity, Equity, and Inclusion initiatives and signed pledges to hire more men and women of color to address issues with promotion and wage disparity. Often it feels more like companies are treating recruiting diverse talent as an issue of compliance and risk mitigation, not as a business opportunity.

‍

In a world where companies are hiring people based on pattern-matching or outdated hiring practices, how do you identify, vet, and create a pool of talent that’s not only great at what they do, but are also diverse: not only in terms of race or gender, but diversity of thought, backgrounds, and experiences?

‍

Take a risk on someone who doesn’t look, dress, or sound like you. According to McKinsey, ethnically diverse organizations are more likely to exceed industry financial return metrics. The biggest risk might be hiring in a bubble, sacrificing productivity and performance for comfort or status. To dig deeper into this, check out the insightful Blackpaper, published by Black Freelancer.

‍

Forgive a mistake

‍

It’s easy to hold a grudge for a mistake that might have cost you something valuable (i.e. commission, promotion, recognition, reputation), and your grievance isn’t unwarranted. But you need to let go. Use it as a learning opportunity, figure out what could have been done better...and move on. People will always make mistakes and you don’t want to create a culture of fear or recrimination.

‍

Sacrifice perfection for delegation

‍

You simply do not have the mental bandwidth, enough hours in the day, or breadth of expertise to do it all. Relying on support from colleagues is all you have. Don’t forget that a delegator can also be an editor, coach, and advisor. And you never know...they might end up doing it better than you.

‍

Give trust before it’s earned

‍

Forget your assumptions and remember we can all be influenced by our biases. Choosing to trust someone makes them feel valued and instills confidence in that person. You might be pleasantly surprised at what they are capable of.

‍

Share the wealth

‍

As technology advances so do the opportunities to build organizations in a way that’s far more equitable for people across the organizational hierarchy. For instance the decentralized and interconnected nature of the blockchain allows for individuals to have ownership of what they help build. Tokens can be rewarded to employees, contractors, and clients to incentivize productive business activities, influence product/service decisions and improvements as well as allow for new investment opportunities to build long lasting (generational) wealth.

You have power to improve the world, but it starts very small from within. Our institutions must improve, and they will if we start to change our approach. Achieving fairness and equality doesn’t start with legislation, it starts with you...it starts with us.  

‍

What are we doing to build a socially conscious culture?

‍

The Lawtrades team is committed to build a more equitable future through new ways of working, offering a number of legal engagements to suit different schedules. This allows our talent network to maintain a happy and healthy work-life balance. We also invest in our employees’ well-being and offer generous benefits. Our full-time contractors are offered Slavic 401(k), along with health, dental and vision coverage. We want our employees to do what they love, without having to worry too much about the rest!

‍

Our talent platform is diverse with over 55% of our network identifying as women and 37% racial/ethnic minorities. And for those companies and hiring managers truly committed to building diverse teams we recommend Black Freelancer - an inspirational global platform for Black professionals to build community, showcase their work, and take ownership in the digital economy...check it out here!

‍

📅 October was a month of growth

‍

Lawtraders logged 6,054 hours in October and 166 new talented users joined us. That means our network now includes over 1,200 top legal professionals from around the world, with new talent signing up from Germany, Belgium and the UK. If you are looking for legal support in these countries, or elsewhere, post a position!

‍

‍

‍

We also reached an amazing milestone- our Lawtraders have earned over $10 million on our platform! Thank you to everyone for your support and hard work in reaching this achievement 🙌

‍

We held an interactive event: It was all around how GC’s can position themselves as valuable members of the C-Suite. Over 80% of GCs believe it’s important to have a seat at the C-Suite table. But, less than half of CEOs see them as a strategic business partner.

‍

Lisa Lang (GC, Kentucky State University) moderated an honest and interesting conversation with panelists Adam VanWagner (GC, MoneyLion), Brooke Smarsh (GC, Flow), and Lydia Cheuk (GC, Away) in which they shared their experiences of integrating in to the C-Suite and the issues they faced along the way. You can check the replay and notes here.

👋 Join our community

‍

Do you want to join our community of in-house leaders and get access to exclusive events and networking opportunities? We created this space because we believe shared knowledge in the legal community has the power to change lives. With a growing membership base of over 100 in-house leaders from companies such as Coinbase, Patreon, and Yelp, it’s the perfect place to share your experiences, learn from others, read relevant legal news and celebrate your wins.  

‍

Request an invite

‍

🔊 RSVP to our next event

‍

Oh yes, we have a great panel discussion for you this month! ​Ever wondered how you could improve your negotiation strategies? Or what to do in a tense situation when the other side is unwilling to budge? Join Kathy Zhu (Senior Director, AGC at DoorDash) as she moderates this discussion with Hylan Fenster (Director, AGC at Adobe), Hayley Gonzales (Managing Counsel, Affirm) and Ariana Goodell (Legal Director of Commercial, Branch)…you won’t want to miss it!

‍

RSVP here

‍

👏 What’s new with Talent

‍

In a world where companies are hiring people based on pattern-matching or outdated hiring practices, how do you identify, vet, and create a pool of talent that’s not only great at what they do, but are also diverse? According to McKinsey, ethnically diverse organizations are more likely to exceed industry financial return metrics. We’re really proud to share some statistics around how diverse our talent network is here at Lawtrades.

‍

‍

💭 What’s on the horizon

‍

We are working hard behind the scenes to constantly improve our product to make your lives easier. Our top priority at the moment? Launching our iOS app so that you can manage your work with Lawtrades on the go. Watch this space!

‍

‍

🆕 Team updates

‍

We are super stoked to announce a new member of our team! Lauren O’Neill joined our sales team at the start of October and she brings with her a wealth of experience from working in client development for both Orrick, Herrington & Sutcliffe and Cleary Gottlieb Steen & Hamilton. Want to say hi? Shoot her a note!

‍

‍

‍

Lauren O’Neill joined Lawtrades in October and is part of our sales team. Based in New Jersey, Lauren previously worked with the business development side at Orrick and brings an interesting mix of experience of both legal and start-up knowledge. Let’s get to know her a little better!

Can you share 2 interesting facts about yourself?

‍

I was a ballerina many moons ago. My great-great x 5 grandfather, George Clymer, signed the Declaration of Independence - that makes me a Daughter of the American Revolution (DAR). Where my history buffs at?!

‍

How do you spend your weekends?

‍

On any given weekend - during any given season - you'll likely find me on the beach with my family. One of the many perks of living at the Jersey Shore.

‍

What is the most unconventional job you have ever had?

‍

Not unconventional, just life-altering. Being promoted to "Mom & CEO of Household" with the arrival of my son. Then building the team by adding a daughter...and let us not forget about the new hire on the way - coming Christmas Day 2021.

‍

Why did you choose to join Lawtrades?

‍

To be a part of something great. Many of my previous clients were early-stage startups. In learning more about the formation process, raising capital, driving a vision, and creating a culture - I made it a personal (not just professional) priority to dip out of the Corporate world and find that perfect team. Oh, hey #WholeSquad.

‍

What are your primary responsibilities?

I'll be engaging prospects in our orbit more thoughtfully to convert our awesome community into new business. Let's not forget nurturing current client relationships - with the goal of institutionalizing them. Lawtrades or bust.

‍

What are you most looking forward to in this position?

‍

Being a champion of what we're building and being a part of our growth!

‍

Where can you help the most in this position?

‍

I'm a relationship person - constantly connecting the dots and making introductions. Hoping this will be valuable to the entire team in some way, shape, or form.

‍

​Over 80% of GCs believe it’s important to have a seat at the C-Suite table. But, less than half of CEOs see them as a strategic business partner. Not sure how to leverage yourself as a valuable member? We brought on experts who shared their experiences of integrating into the C-Suite and the issues they faced along the way.

‍

‍

Meet the Presenters:

‍

Moderator:

Lisa Lang, General Counsel, Kentucky State University

‍

Panelists:

Brooke Smarsh, General Counsel, Flow

Adam VanWagner, General Counsel, MoneyLion

Lydia Cheuk, General Counsel, Away

‍

Key Takeaways:

‍

• Leverage relationships with executives early on

• Spot company trends you can bring to the executive team

• Take time to learn the business

• Be concise and direct with your communication

‍

How do you define C-Suite?

4:12-6:50

‍

Adam, “A strategic hub for the business”

Senior executive-type decision making authority over significant business lines.

‍

Brooke, “We have the C-suite with the C-title, who we also call the executive community”

The executive team meets every day, and the next level committee meets every other week.

‍

Lydia, “We have a team of 7 C-level people”

We meet without our CEO once a week, and we meet with our CEO every week.

‍

What is your value as GC within the C-Suite?

6:50-16:30

‍

Adam, “I am there to evaluate any legal or regulatory concerns that need to be reviewed”

There to provide background legal oversight- more on an ad hoc basis.

‍

Brooke, “What trends are we seeing living in the legal seat”

It’s important to spot company trends you can bring to the team, and evaluate the priority level.

‍

Lydia, “As a GC you have a 30,000 foot view of the business”

Leverage your relationships. Your workforce and team are the foundation of your success. By leveraging those- it helps move the way for the company.

‍

Lisa, “I have the ability to bring everyone together”

Building those relationships helps promote the flow of the whole team.  

‍

How did you learn your business?

16:30- 27:32

‍

Adam, “I made a point of trying to get a holistic picture of the business”

Make an effort to learn the business backwards and forwards- especially the business operations.

‍

Brooke, “Get in there, ask the questions- and dig”

Be as open as possible, and learn the nitty-gritty.

Lydia, “Have a curious mindset”

Knowing your business makes you a much better advisor. Go to meetings you may not necessarily want to.

‍

Lisa, “Have those water-cooler conversations”

They may open issues or frustrations of the company, so you can operate better.

‍

What skills do you need?

27:32-35:48

‍

Adam, “Learn how to be concise and direct”

Lawyers can be used to digging into the details- learn how to convey things differently.

‍

Brooke, “Many people don’t read more than the first line”

Learn how to read people and motives-as quickly as possible.

‍

Lydia, “You are a business executive first and a legal expert second”

Shift your mindset to being part of the executive team.  

‍

Lisa, “Work hard on asking questions better”

I was making assumptions based on things I was sharing. Make sure you are fully versed on what the facts are.

‍

Any advice for anyone coming into the role?

35:48-40:55

‍

Adam, “Show you are on the ball on what the business is trying to achieve”

Observe the dynamics of the team. Learning the business should be the first order.

‍

Brooke, “Listen intently, don’t offer suggestions at first”

Keep a notebook for the first 90 days, write your ideas down, and look back as you learn the business. Make sure you are all aligned on the risk tolerance.  

‍

Lisa, “Have a really collaborative approach”

Take away the law-firm vibe, and come in as a colleague! Build a strong team beneath you.

‍

Did you have any strategies to be added into the executive team?

44:18-48:38

‍

Brooke, “I made sure the CEO knew I had no ulterior motive, and that I have the back of the CEO”

Build and support the relationship with the CEO as early on as possible.

‍

Did you have to change the relationships with other colleagues when you joined the C-Suite?

48:38-50:51

‍

Adam, “There definitely was a transitional period”

You represent the business in a different way, and the conversations may have to change. You have to not be as accessible to junior level employees.

‍

Do you have any negative perceptions you had to overcome?

50:51-53:20

‍

Lydia, “I’ve been really crisp on what our legal team is”

Make sure your team is growing in the same direction as you, and establish that value early on.

‍

If you want to find out more about Lawtrades, feel free to set up a call with our amazing team here.

‍

Want to join our exclusive community of in-house leaders? Apply here.

‍

Internal recruiters, HR professionals, and hiring managers... It's time to incorporate Freelance Talent Networks into your hiring toolkit. Departments' budgets are squeezed and COVID-19 continues to delay a full return to the office. These constraints require creative solutions. Independent, remote professionals are entering the job market in record numbers, and Freelance Talent Networks are sourcing the very best of them.

‍

With the help of technology, what looked like a depression has become a new frontier of professional opportunity for remote workers in tech, legal, sales, marketing, and many other areas.

‍

Let’s be honest. You're missing a wealth of pre-vetted candidates because you're still recruiting like it's 1985. Experienced, agile professionals aren't going to jump through the endless job application hoops that waste not only their time but tack on administrative costs to your organization's bottom line.

‍

Work smarter, not harder

‍

Every hiring decision is met with considerable risks. Freelance Talent Networks aim to significantly reduce if not eliminate the risks associated with hiring.

‍

• Candidates are pre-screened

• Time to hire is reduced by ~75%

• Reduction in administrative load

• Temp to perm is always on the table

‍

What to look for in a Freelance Talent Network

‍

It may seem overwhelming when transitioning to using a Freelance Talent Network. Here are a few things to watch out for and some questions you should ask.

‍

Specialization & Experience

‍

It’s important to find a Freelance Talent Network partner that thoroughly understands your industry and curates a network of candidates that are able to meet its demands.

‍

Character

‍

You want talent that can fit seamlessly into your existing team. Your Freelance Talent Network should evaluate and know their talent members so that they can help you to find your perfect fit quickly.

‍

A Share of the Risk

‍

Not every hire is going to be the right fit 100% of the time. Look for a partner that understands the risks and works with you to mitigate them. You should find these in the terms of your agreement, and they take many forms including free trials, insurance policies, and replacement searches.

‍

What makes a trustworthy freelancer?

‍

Okay, so you understand the benefits of freelance talent, and what to look for in a talent network. But how do you know if they’re going to be a worthy addition to your team?

‍

Here’s some key metrics to look out for-

‍

5+ years of experience in their field

You don’t want to spend considerable time training and onboarding talent. They should be able to seamlessly integrate into your team, and have the experience to do so.

‍

Experience in startups and SMBs

Those that work for startups and SMBs tend to be adaptable, reliable, and resourceful.

Entrepreneurship

More often than not, freelance work operates remotely. You need someone on your team who takes initiative- so there’s no need to closely monitor their work.  

‍

Presentation, communication, responsiveness

It’s important to have talent that are available when you need them and can complete tasks accurately when you need them done.  

There are many reasons that people want to freelance. Maybe they want to be more present with family or work on a passion project. Whatever their reason, you do not want to miss out on these exceptional professionals who can help you grow your headcount efficiently!  

‍

Still not on Board?

‍

Here’s the most common objection we hear.

"My incentives don't line up with making these types of hires”.

‍

Change the incentives. Share this article with decision-makers who need to be influenced to update incentives, and give freelance talent a go. When another internal team contracts a freelancer, document the hiring process and team feedback to provide strong use cases to present to your department heads.

‍

Often called contractors, flexible talent, freelancers, and temps- knowledge workers are the present and future of scalable businesses. Don't miss an opportunity to upgrade your department and help your business grow!

‍

At Lawtrades, we’re happy to help you make this transition. We have a vetted network of qualified legal talent, as well as the resources to seamlessly integrate them into your team.

‍

➕Create a position today

‍

Background

Meet Tim!

‍

Tim grew up in Long Island- but didn’t stay there long. He attended university at Colgate, then law school at William and Mary (just like Thomas Jefferson 🤯 ). After graduating, Tim moved to Columbia, SC, and met his wife while clerking on the 4th circuit. Later on, he relocated to NYC- where he practiced labor and employment law at Holland & Knight. He was across the street when the second plane hit during 9/11, and found himself stressed going to work in the months thereafter. Just before the 5th anniversary of the attacks, and right after his daughter was born, Tim realized he no longer wanted the life of a Wall Street firm partner. This took him to the Twin Cities area of Minnesota. Four years later, another job change brought him to Nashville, TN- where he’s currently based.

Path to Lawtrades

‍

The company Tim relocated to Nashville for ended up going bankrupt in 2016. Tim wanted to stay in the area, but couldn’t find a company that valued its legal talent, nor one that wouldn’t require him to travel extensively. He started working on projects for a local, independent law company- but found that he wasn’t completely satisfied. While working as the GC of a national recruiting company, he was introduced to freelancing. He was recruited by our co-founders Ashish and Raad earlier this year, and started his first engagement shortly after.

‍

Success with Lawtrades

‍

At Lawtrades, Tim is able to work on projects he enjoys with companies he admires. He can be a part of a leadership team- without having to relocate yet again. His biggest accomplishment with Lawtrades so far? At his most recent engagement, he overhauled the domestic and international sales contract platforms, while achieving stellar third quarter closed sales contracts- putting the company in a much better position leading up to its IPO!

‍

Flexible Working Hours

Tim operates fully remote with Lawtrades, which not only greatly expands the scope of projects he can work on, it also helps maintain a work-life balance. He can be there for the day-to-day of family life, like greeting his son when he comes home from college, or getting involved in his kids' activities- like Scouts, swim teams, and marching band. He has the time to be an avid NY sports fan, geek out on Star Wars, Star Trek, or Harry Potter- and stay active in his church’s ministry programs. Overall, Lawtrades has given him the flexibility to take time off when necessary, while also providing well for the needs of his family.

‍

Josh Saneda joined Lawtrades in May to head up our talent team. Based in Ohio, Josh brings a wealth of experience from the recruitment world to Lawtrades, having worked for over 10 years in the sector. Let’s get to know him a little better!

Can you share 2 interesting facts about yourself?

‍

I play competitive 4s volleyball twice/month and in my freshman year of college, I won a Lego building competition.

‍

How do you spend your weekends?

‍

Weekends are typically spent running my 6-year-old son to one of his many activities: track, baseball, golf, swimming, or basketball.

‍

What is the most unconventional job you have ever had?

‍

I worked as a snowplow driver for a family friend while I was in college.

‍

Why did you choose to join Lawtrades?

‍

I have a huge passion for startups and I really liked the culture & community that our co-founders created. I see massive scalability with Lawtrades.

‍

What are your primary responsibilities?

‍

I'm responsible for growing the supply of the business (# of people on the platform) and maintaining the outreach to our current Lawtraders.

‍

What are you most looking forward to in this position?

‍

I'm really looking forward to connecting with interesting legal personnel. So far, I've met some really cool people with diverse backgrounds. It's always rewarding to see our Lawtraders get their perfect work-life balance.

‍

Where can you help the most in this position?

‍

The success of the company hinges on the quality of Lawtraders that we present to our clients. I'll be the most successful by continuing to qualify and manage the supply side of our business.

‍

The modern workforce understands that job opportunities come and go. The labor market of previous generations is no longer there, and we’ve all felt the effects of the COVID-19 economy. Agility and hustle will carry us through the post-covid career landscape, but we shouldn’t go it alone. Those in traditional career paths are finally realizing they’ll only capture a small fraction of the value of the corporations where they work.

‍

Freelancing is a game-changer. Anyone can earn a living by building a personal brand. And, the stats only take us further. By 2027, freelancers are expected to become the majority of the workforce 🤯. Previous work norms are long gone, and the pandemic has shown that achieving a good work-life balance is more important than ever before. Studies have shown that 77% of freelancers have a better work-life balance than traditional jobholders. By deciding where and when they want to work, freelancers hold all the power.

‍

Enter the Freelance Talent Network, a digital space for finding quality work-consistently and efficiently.

‍

Why join a freelance talent network?

‍

• Work with the most reputable organizations in the world

• All your admin, legal, marketing, and customer acquisition costs are included

• Apply to many jobs at once with just a few clicks

• Never write another cover letter again

• Time to hire is reduced by 75%

‍

To make the most of these talent communities we suggest the following:

‍

The Do’s

• Be picky when and where you apply - don’t apply for everything you see. You won’t be perfect for every position, so don’t waste your (and the clients) time.

• Network with your talent network’s sales team - they are the experts and can help guide you in the right direction.

• Rely on your talent network for administrative duties and customer support - they are there to help you whenever you need it.

• Follow up with coveted clients after your interview - they’ll appreciate it and you’ll stay top of mind.

‍

The Don’ts

• Join a freelance network in bad faith - this doesn’t help anyone and could reflect negatively on you.

• Apply for a job you don’t have the bandwidth to take - this just leads to disappointment for everyone involved. Be realistic and practical on what time you have to offer.

• Be afraid to say “no” (There are plenty of opportunities to go around). If something isn’t right for you - then say it! Honesty is the best policy and no one knows your capacity and job needs better than you.

• Put all your eggs in one basket - to keep the income and workload that you want, it’s better to have more than 1 client.

‍

There is a space for everyone with the skills and experience to back up their resume. Try Googling Freelance + your job title, and you’ll find several options on the first page of search results.

‍

The legal industry has been traditionally left behind in the freelance movement. But, things are changing. According to the 2021 EY Law Survey, 85% of General Counsel are saying their law departments use external service providers to source talent, and sure enough- are interested in expanding this use even more. Companies need legal talent, and they need it quickly.

‍

At Lawtrades, we’re pros at getting you hired. We use data-driven automation, and end-to-end vetting so we can connect you to the opportunities that suit you best. And, we have a massive network that is continually expanding. In this year alone, our talent has logged 31,000 hours of work. What else? We give you the freedom to choose the hours and rate you deserve.

‍

Apply once, complete a quick screening- and you’re in. Then let the jobs come to you.

➕Join our network today

‍

Hannah Longman joined Lawtrades back in March to head up our community team. Hailing from Liverpool, Hannah previously worked in community and event management across hospitality and tourism industries. Let’s get to know her a little better!

‍

Can you share 2 interesting facts about yourself?

‍

My great great Grandad was part of the team who painted the Titanic (eek). I’ve also lived in 4 different European countries (UK, Belgium, Germany, and Spain) with varying degrees of language success.

‍

How do you spend your weekends?

‍

I like paddleboarding, going to the beach (benefits of living in the Canary Islands - ☀️all year round!), and watching my team (Liverpool) play in the Premier League.

‍

What is the most unconventional job you have ever had?

‍

I once worked as an unofficial interpreter for a Spanish radio station when Barcelona traveled to Liverpool for a European Champions League Soccer game. I didn't get paid but I did receive lots of swag and it makes for a great story.

‍

Why did you choose to join Lawtrades?

‍

When you talk with anyone from the Lawtrades team, you see the passion for the company shine through. The opportunity to be part of something that is making such a positive impact in the legal profession was unmissable. Lawtrades has the drive, ambition, and the (amazing) team to go far which is super exciting.

‍

What are your primary responsibilities?

‍

I am responsible for building our community of legal professionals and organizing an educational and interactive events calendar.

‍

What are you most looking forward to in this position?

‍

I love getting to know our GC's and talent network - such a lovely bunch of people and being part of something that is making a difference in our industry.

‍

Where can you help the most in this position?

‍

By understanding what our community wants and making sure that we can offer events and content that keep us top of mind!

‍

Background:

‍

Meet Jordan! He runs his own virtual practice on Lawtrades as Transactional, Product, and Corporate Counsel to several notable high-growth companies. He has extensive experience and a unique perspective from his time as a General Counsel for a high-growth Silicon Valley startup in addition to practicing at a large law firm in New York earlier in his career.  Jordan graduated from Columbia Law and started his career primarily counseling large FinTech companies on transactional and regulatory matters, prior to serving as General Counsel at Meta, where he built the legal department at the rapidly growing startup that developed pioneering augmented reality technology, and spearheaded partnerships with some of the largest tech companies while helping the company scale 10x and raise $100M prior to a sale in 2018.

‍

Path to Lawtrades:

‍

Exposure as an in-house counsel made him aware of the issues many smaller companies face, such as limited budgets and overwhelming workload. As a GC, he saw how working with large law firms often yielded sub-par results at top-tier rates, and hiring enough internal counsel was often not possible with startup budgets. Recognizing this gap in the market for counsel who can assist emerging companies with a variety of day-to-day legal matters, but at a fractional cost of a new employee and significantly lower billing rates than Big Law, where even junior associates these days are billed to clients at upwards of $600 per hour. He realized that if you could offer the benefits of an experienced counsel, but operate fully remote and independent - this meant cost savings and maximum flexibility to better assist clients' ongoing needs! Of course, freelancing as a lawyer would also let him practice in the areas he wanted so he could take advantage of the full breadth of his experience and talents. It’s not surprising that he found Lawtrades 😊.
‍

‍
Success with Lawtrades:

‍

After deciding to start his own virtual practice, Jordan has worked on engagements with several notable high-growth companies in NY, SF, LA, and Seattle. By working primarily with startups, he has been able to broaden the scope of his practice by diversifying the businesses and product categories among his clientele. After finding success in some early part-time engagements, Jordan knew he was ready to take his practice full-time.

‍

Since joining Lawtrades, he has surpassed 3000 hours helping companies like Headspace, Giphy, Allbirds, Ember, and Udemy.

‍

Flexible Working Hours:

‍

When Jordan was just getting started on Lawtrades, he wasn’t ready to hop into another full-time position. He wanted to maintain a certain level of income, while figuring out where he wanted to take his career-and Lawtrades provided him the opportunity to do so. By working remotely, Jordan was able to relocate his practice to further reduce costs and better fit his lifestyle goals, especially during the disruptions of the pandemic! He liked the flexibility he could maintain through deciding the schedule he wanted to work, and most importantly the level of compensation - without the artificial restrictions of a Big Law practice or the heightened 24/7 responsibilities as General Counsel at a startup.

‍

Q4 is here (and so is the fall season 🍂). We wanted to keep you up to date about what’s happening at Lawtrades, from a rundown of a great event about legal ops to highlighting the performance of one of our attorneys who has helped companies navigate return to office plans!
‍

📅 September was a month of growth

‍

Lawtraders logged 5,902 hours in September and 43 new talented users joined us. That means our network now includes over 1,100 top legal professionals.

‍

The top 3 practice areas were:

‍

1. Contract management implementation
2. Corporate compliance
3. Commercial compliance

‍

We held an interactive event: It was about how legal departments can use legal ops to boost efficiencies, featuring Deanna DeFrancesco (COO Legal, WeWork), Reeta Sharma (Legal Ops Lead, Notion), and Guilherme Tocci Salcedo (Global Legal Ops, Gympass). They shared everything you need to know about legal ops & provided key advice such as how to get buy-in from the C-Suite, and how to implement solutions that work. (One of our favorite takeaways: consider the legal ops person as a direct part of the leadership team). You can check out the replay and notes featuring those tips and everything else they said here.

‍

We also spent 24 hours in San Francisco, participating in the Deputy Tech GC National Summit, and had a great time!

‍

👋 Join our community

‍

Do you want to join our community of in-house leaders and get access to exclusive events and networking opportunities? We created this space because we believe shared knowledge in the legal community has the power to change lives. With a growing membership base of over 100 in-house leaders from companies such as Coinbase, Patreon, and Yelp, it’s the perfect place to share your experiences, learn from others, read relevant legal news and celebrate your wins.  

‍

Request an invite

‍

🔊 RSVP to our next event

‍

We have a good one for you this month! Over 80% of GCs believe it’s important to have a seat at the C-Suite table. But not everyone succeeds. So how can you position yourself as a valuable member of the executive team?

‍

Join our next panel discussion where Lisa Lang (GC, Kentucky State University) will moderate a conversation with Adam VanWagner (GC, MoneyLion), Brooke Smarsh (GC, Flow), and Lydia Cheuk (GC, Away) as they share their experiences of successfully integrating into the C-Suite and the issues they faced along the way.

‍

RSVP here

‍

👏Check out our talent

‍

Meet Shaz.

Shaz is an attorney with over a decade of experience. Since joining Lawtrades, she has logged almost 250 hours helping companies like SafeGraph and HealthEC identify and implement solutions that take work off the legal team’s plate. Shaz has especially enjoyed taking on the role of “wingman” to GCs by providing clarity throughout the pandemic and helping navigating return to office plans.

You can read her full story here.

‍

Want an intro to Shaz? Reply to this email and I’ll connect you!

‍

The last 18 months have changed the way that we do business, and more people are appreciating the value of remote working. We've seen an exodus of talent leave their fixed positions and go out on their own. Whether you are a legal professional wanting to go out on your own, Or you want to scale your already existing business, we’ve got you!

‍

We were lucky enough to have one of the biggest game-changers in the freelance legal industry, alongside our very own talent experts on our panel! They discussed how to build your legal brand and pave your way to success as a freelance legal professional.

‍

‍

Meet the Presenters:

‍

Moderator:

• Melissa La Forest, Senior Account Management, Lawtrades

‍

Panelists:

• Josh Saneda, Growth Lead, Lawtrades
• Jordan Schwartz, Founder, Tech Law

‍

Key Takeaways:

‍

• Operate like an in-house counsel

• Open yourself up to different types of roles

• Decide the bandwidth you want to commit to

• Set a consistent track record with the client

• Establish boundaries early on

• Be nimble and ready to adapt to changing expectations

‍

Why go out on your own?

1:25-4:30

‍

• Jordan: “It allows you to practice in a lot of areas and take advantage of all your talents”

• Experience with in-house counsel allows you to see the issues that small companies go through, and how hard it can be to find the right outside counsel

• Position yourself like an advanced counsel, operating at the external level provides a lot of cost-savings for the company

‍

How do you set goals?  

4:30-6:30

‍

• Jordan: “It was an opportunity to broaden the base of products I was working with”

• Compensation is a major reason people are hesitant  

• Decide what you need to make it a worthwhile endeavor

• Focus on getting early engagements to build your profile out

‍

What are the Obstacles?

6:30-11:44

‍

Josh: “Figure out which roles you want to chase”

• Compensation is a big question!

• Lawtrades pricing is on avg. $120-180 per hour  

• How long will it take to find an engagement?

• We’ve had talent sign contracts in less than 48 hours!

• Decide and commit on the right time to leave your current opportunity

‍

Jordan: “Be open minded and see how the work evolves”

• Wasn’t the right time to jump right into a full time engagement

• Enjoyed the flexibility and ability that Lawtrades offered

‍

How do you manage your time?

11:44-15:12

‍

Jordan: “Be cognizant about how much work you’re willing to put in”

• Understand the turn around time you need to make deadlines

• Be realistic: are you looking for work life balance, or are you looking to have as many engagements as possible  

• Understand the ebbs and flows of your client’s business, such as when work may pick up and when it will slow

‍

How do you build out your profile?

15:12-22:07

‍

Josh: “Describe what you’ve accomplished, and make it worthwhile for the client”

• Highlight the diverse parts of your background

• Keep it concise! Clients can only see the top third of your profile

• Showcase any startup or small business related experience, technology assets, and highlight cool clients you have worked with

‍

Jordan: “Keep it as pithy as possible”

• Take the effort to flush out what your strengths are

• Take on engagements that meet your current strengths, then you can pivot onto ones that broaden your experience

• Build relationships with current engagements, be ready to broaden your scope as they may take you on for future engagements

‍

How does the interview process work?  

22:07-28:08

‍

Jordan: “Make them comfortable with the remote-working relationship and being external”

• It may be a little less cumbersome than going through the process at a full time company

• Clients are generally looking to take someone on pretty quickly

• Be confident, personable, and be ready to provide support

• Be nimble and adaptable to the client’s system and processes

Josh: “Get to know the team upfront up”

• Don’t be afraid to ask questions early on

• Get comfortable with 100% remote work

• Understand where and how communication will take place with the GC, and the rest of the legal team

‍

How do you set boundaries?

28:08-32:07

‍

Jordan: “Establish that track record and credibility with the client”

• Be ready to provide estimates on time frames

• Set expectations and form boundaries early on

• Understand how much you need to be unavailable, and how flexible you can be during the day

‍

Any tips on setting up a virtual practice?

32:07- 36:38

‍

‍Jordan: “Hire a good accountant”

• Make sure to set up an accounting strategy- the taxing side can get tricky

• Don’t be afraid to take a rate slightly lower to get yourself out there

• As you build up a steady base of clients, you can adjust the hourly rate and scale upwards  

‍

At Lawtrades, we’re on your team to help things work.  

‍

If you want to find out more about Lawtrades, feel free to set up a call with our amazing team here.

‍

Or, if you are ready to sign up & apply for engagements...you can join our amazing talent network here.

‍

‍