Five Lessons For BigLaw From The Kleiner Perkins CaseMarch 25, 2015 – In The News
Jeffrey Polsky was quoted in the Law 360 article, “Five Lessons For BigLaw From The Kleiner Perkins Case.” Full text can be found in the March 25, 2015, issue, but a synopsis is noted below.
The renowned trial against Kleiner Perkins Caufield & Byers LLC regarding sex discrimination is important to the venture capital realm. The trial also allows for learning in other male-dominated fields.
Jeffrey Polsky, a partner of Fox Rothschild, compares law firms to venture capitalism. Law firms need to be just as careful regarding the jury’s perception of them and are often held to higher legal standards. He goes on to say, “A law firm violating a statutory or regulatory requirement is viewed by juries as a big deal, and it can be seen as a worse violation than by anyone else.”
One thing law firms can take away from this case is that frequent performance reviews are important. Polsky adds, "It's in employees' best interest so that they have a greater opportunity to correct whatever problems there may be and in the employer's best interest because it wants to know sooner rather than later if problems can be corrected. Unfortunately, a lot of managers don't like delivering unpleasant news and chicken out."
Ultimately, law firms can and should learn a lot by looking at the Kleiner Perkins case and the male-dominated venture capitalist field as a whole.