Law Vibe

Source: Law.com

Greenberg Traurig partners have pledged $1.25 million to endow an unusual new University of Miami professorship to teach law students about the business of law.

The money will be donated by about 250 Greenberg partners over four years. It will fund an endowed chair in a subject that is little taught at most law schools. The chair will be named the Larry J. Hoffman Greenberg Traurig Distinguished Professorship in the Business of Law, after Greenberg board Chairman Larry J. Hoffman.

Dennis O. Lynch, UM’s law school dean, said the professor who eventually will hold the new chair will focus on research and teaching students about the structure and management of law firms, running a practice in the face of global expansion and relating to clients and the relationship between associates and partners.

“It’ll enrich our curriculum in a direction that not many law schools focus on,” Lynch said.

“Whether a law student goes to a small firm, individual practice or a large firm, there is a great deal of the business of law that’s involved,” Hoffman said in an interview. “Everything from, how do you get business? How do you motivate people? How do you recruit? What are acceptable financings and finances? And most of this is not taught in law school today.”

Cesar L. Alvarez, Greenberg’s president and chief executive officer, said he finds it jarring just how little new associates understand about what it takes to run a law firm. “They have no idea how the business works,” he said.

“This will provide an opportunity to UM law students to graduate with a much better understanding of some of the important concepts they will be dealing with as lawyers, such as servicing clients, working in practice groups, understanding ethics and professionalism and dealing with business clients,” said Hilarie Bass, who heads Greenberg’s national litigation practice. “I don’t think there is anything comparable to it at any other law school across the country.”

According to UM’s Lynch, the law school likely will rely on visiting lecturers to teach the business of law until Greenberg’s financial pledge is fulfilled in four years.

One potential lecturer Lynch would like to invite: Larry J. Hoffman.