Budget constraints make it essential to hire an outside counsel or legal service provider who does not charge you for reinventing the wheel. How can you identify the leading experts in the legal profession who can provide you with the advice that you need without reinventing the wheel?
Readers of The Metropolitan Corporate Counsel are long familiar with the wealth of information that our publication makes available at their fingertips. Its many resources help corporate counsel to keep abreast of general legal trends, stay current in their fields and identify the outside counsel and legal service providers for the specific help they need.
The Metropolitan Corporate Counsel's resources are available through subscription to our print publication (complimentary to in-house counsel) as well as online at www.metrocorpcounsel.com (complimentary to all visitors).
Visitors to our website can access a wealth of information in a variety of ways.
Our home page features our current issue and archives prior issues from January 2004. You can scroll through the online index to learn about hot topics and click on the title of the articles that you'd like to read.
Here's a hypothetical demonstration of how you can use our site to delve more deeply into a topic and to find the help you need.
What Do I Do Now?
ActionInvest is a software development company that offers products designed to facilitate the process of categorizing and tracking inventory. The company went public last year and its market share in the industry has grown to the point where ActionInvest was required to hire a new CEO and other key managers with industry experience. In addition to a competitive salary and bonus package, the compensation committee of ActionInvest's board determined that it should offer each new officer additional incentives tied into the company's performance.
The committee charged Sara Abel, ActionInvest's in-house counsel, to work with the company's accounting and human resources departments to develop an appropriate recommendation. While searching through the pros and cons of the various incentive structures available, she noticed that the Internal Revenue Service issued new regulations under Section 409A of the Internal Revenue Code that would affect deferred compensation plans. Specifically, executives would be required to include in their current income tax returns payments received under nonqualified deferred compensation programs if those programs do not comply with the new regulatory requirements by January 1, 2008. Given the recent passage of these regulations, Sara determined that it would be best to discuss their potential impact with outside counsel with expertise in this field.
Sara remembered reading articles in The Metropolitan Corporate Counsel discussing the different equity-based incentives that a company can offer its officers and the general requirements of the new regulations.
She went to www.metrocorpcounsel.com and searched for articles on deferred compensation and Section 409A. She found a number of relevant articles which enhanced her understanding of the new requirements.
She then checked the "Bios" of the authors who wrote the articles. She found by clicking on the links to their "Bios" in the "Links" tool bar at the top of their articles at www.metrocorpcounsel.com that their backgrounds reflected the expertise she was seeking. She confirmed that expertise by clicking on "Other Articles" under the authors' names. By clicking "Other Articles" and "Website" under their firms' names, she found that the lawyers' firms met her law department's diversity and other standards.
Her next step was to send RFPs to each attorney's law firm. The rest is history!
Why pay a lawyer to reinvent the wheel?
Information from www.metrocorpcounsel.com can help you to make an informed choice when selecting your outside counsel or legal service provider.
Be sure to visit www.metrocorpcounsel.com today!