Within the next 3 decades, Glasgow began their own investment capital firm in Or, offered as president and Chief executive officer of the partnership involving construction giant Bechtel Group Corporation., president and COO of the property private equity finance firm so that as chief restructuring officer for AIG Global Property.
“They’re very poorly run companies when comparing [them] to other things,” Glasgow stated. “And this is because, until someone forces these to change, they’re making lots of money.Inches
“That is simply not how lawyers think,” Glasgow stated. “And obviously these were making enough money they checked out me like this was crazy. But that’s the type of innovation in the concept of law the small business.Inches
“There is a large amount of talk lately about the requirement for lawyers to innovate and will work cheaper and faster,” Malt stated at that time. “If you take a step back and check out this from 20,000 ft, [Frederick Guiliano, co-mind of Ropes & Gray’s IP legal rights management practice, along with a leader from the new firm] and that i had to find away out for everyone clients using the proper overhead, cost structure and leverage ratios. So we had to check out whether [patent prosecution] belonged within the atmosphere of a big firm.”
Glasgow (pictured right) was not aware from the spin-off until contacted through the American Lawyer, but he stated he wasn’t surprised at it. Possibly that’s while he were built with a similar idea for Fish & Neave’s patent prosecution practice dating back to the mid-2000s. It could have been the kind of transformative move the former leading Big Law specialist believes today’s big firms may need.
In the view, Big Law remains affected by thinking it sells billable hrs instead of quality legal results. Which thinking is reinforced through the pressure of lawyers to have their profits high so rainmakers don’t depart for much better-having to pay firms.
Glasgow earned his Big Law stripes throughout the 1980s. In 1983, he left their bond and executive committee at Stoel Rives to become Perkins Coie’s first lawyer in Portland. 5 years later, Perkins Coie’s office had 27 lawyers and grossed about $5.5 million in revenue enough for Glasgow to create home greater than $250,000 in 1988, his this past year in the firm, based on a “Heavy Hitter” profile of Glasgow within the American Lawyer about his decision to get general counsel of PacifiCorp Financial Services.
Couple by using a promise by general counsels to provide Fish & Neave a collection part of their patent litigation work, and Glasgow determined that his former firm might have a distinctive business proposition. The concept, obviously, wasn’t acted on.