Friday, 8 February 2008

Recession, what recession?

What do others think of all this talk about recession? In the Law Society’s Gazette this week there are dire warnings for small and medium sized firms. Apparently the legal sector feel the effects of a recession some eight months after the rest of the business world, and should be bracing themselves etc etc. If I knew how to blog I would link you to relevant articles but sadly have yet to learn how to do these things. A lesson from Jeremy seems in order. Well on the other hand I read somewhere that this whole "recession" thing everyone's blathering about is merely fabricated by the US media so they'll have more to, g-r-i-p-e about while they assault us with election propaganda. Apparently ABC, NBC, CBS and CNN have predicted 40 out of the last 2 recessions. I personally think this is going to be a wonderful year for people who make it a wonderful year. If throughout our day we continually ask ourselves the question, "Is there anything in my life that I should do more of, less of, start, or stop?" then chances are good that you can make this the best year yet. Any thoughts from anyone?


  1. It takes quite a while to fulfil the technical definition of recession but the credit crunch is definitely having an impact on firms without a decent finance director will be going into administration. Get Smart on your credit control. If anyone else has debtors in San Diego get in touch. At least two solo members are looking for a good debt collector there. I have also sent quite a few callers to the English court service's money claims online as well.
    Another pointer-why else would Linklaters be putting their IP group under the umbrella of TMT. See The Lawyer article here . Anyone thinking of jumping ship from there is welcome to our meeting on Thursday.

  2. The fact is that IP is one of the most recession-proof areas of legal practice. Clients' IP portfolios have to be maintained even when things are tough, and fire-sales of IP where businesses go under will also generate work. Also, when the going gets difficult, IP litigation carries on since (i) incentives to infringe are greater and (ii) enforcement litigation that may seem a distraction when times are good may appear more cost-effective when markets for goods and services are contracting. During the last real recession the number of people practising IP carried on increasing, too.