Rimon Op-ed in Law360: A time bomb for law firms, mismatched assets and liabilities
In this Law360 Op-ed, Rimon's Thomas White and Michael Moradzadeh argue that law firm management has a particularly critical task: managing the magnitude and longevity of firm assets and liabilities. The firm that fails to balance these factors skillfully may find it difficult to attract and retain talent.
"Many commentators have noted that the pace of change affecting law firms has accelerated. The challenges may be specific to each firm, but what has been overlooked is how detrimental long-term, material, fixed obligations have been to a firm's viability. These obligations, such as long-term leases and multiyear compensation arrangements, have been a potential time bomb because they can persist longer than the firm’s assets [...] After a year in which a number of troubled law firms once again looked to mergers to save the day, there are real questions as to why firms are facing such significant issues."
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Mr. White specializes in the full scope of human resources management, such as Employee Benefits and Executive Compensation, Healthcare, and Employment Law. He began his practice shortly after ERISA was enacted. In this capacity, he has undertaken a full range of contentious, non-contentious and transactional benefits and employment work, and also has extensive experience in the development, documentation and administration of executive compensation programs. He has worked on behalf of clients ranging in size from start-ups to Fortune 500 enterprises.
Mr. Moradzadeh is a Founding Partner and the CEO of Rimon. He is in charge of strategic partnerships and recruiting for the firm.
Mr. Moradzadeh has presented on innovations in law firm management and business models at Harvard Law School, Stanford Law School, UC Berkeley Law School, and UC Hastings College of the Law. Mr. Moradzadeh's innovations with Rimon have received awards from the Financial Times and the American Bar Association Journal and have appeared in a wide array of international publications, including the Economist, the Atlantic, the Wall Street Journal, Harvard Business Review, the American Lawyer Magazine, the National Law Journal, American Bar Association Magazine, the National Post, Bloomberg, Law & More, Legal Management Magazine, the San Francisco and Los Angeles Daily Journals, the San Francisco Business Times, the Silicon Valley Business Journal, American Lawyer's Law Technology News, Law 360, and eLawyering.