The Wall Street Journal posts: Slater & Gordon: The World’s First Publicly Traded Law Firm
Managing Partners and other members of law firm C suites had better look at Slater & Gordon’s prospectus – it’s a gold mine, (pun intended).
Have a look at how risks are described – the Wall Street Journal post quotes the passage balancing professional responsibility and shareholder profits.
"Lawyers have a primary duty to the courts and a secondary duty to their clients. These duties are paramount given the nature of the Company’s business as an Incorporated Legal Practice. There could be circumstances in which the lawyers of Slater & Gordon are required to act in accordance with these duties and contrary to other corporate responsibilities and against the interests of Shareholders or the short-term profitability of the Company."
I adored the "Key Risks" page (click on it to download pdf of this page):
PUNCHLINE: If this does not fascinate you, you should resign from your leadership position. I am not saying you should follow suit – I want you to know what your options are and what your competitors might be up to way sooner than you would like to think.
Science fiction movies adore time travel and ripples in the primordial fabric. We are witnessing a collision – the future has just exploded into the present. With Clemente in the UK just over the horizon, please fasten your seatbelts – this is a pivotal moment for the legal profession and for the Managing Partners within it. Like Dennis Hopper’s famous line in the movie Speed, "what are you going to do, Jack"
You may want to reference my earlier post: The end of the legal profession as you knew it…