Counsel to Counsel - May 2008 - (Page 18)

decision point Optimizing web 2.0 Technology: Expanding Your Professional Network onlineCommunitiesThat fitYourGoals he saying goes: “It’s all in who you know.” When an in-house counsel needs a reference for a pressing matter in an unfamiliar location, relationships with peers can be a lifeline. But the professional isolation corporate counsel sometimes experience can make those relationships difficult to develop. The peer referral network for in-house counsel typically consists of informal knowledge sharing, where many discover new relationships through in-person events, phone calls and emails to people they already know. However, there are limitations to this approach. And there is simply not enough time for legal professionals to attend scores of in-person events and association meetings to expand or maintain their peer network. At a time when attorneys need to make these connections more than ever, what is a savvy in-house counsel to do? Online networking can be the perfect complement—and supplement—to existing relationship-building approaches. Professionals are now able to extend their reach and be a resource to others through active reputation management Web 2.0 tools such as blogging, participating in online forums and broadcasting their knowledge through podcasting, Webinars and online videos. These online professional networks can help in-house counsel make connections with more people in more robust ways without the time and cost burdens of traditional networking strategies. T ©iStockphoto.com/acilo Online communities are not just Facebook and MySpace. Legal professionals should look for professional, online communities where they are able to engage in networking in an environment that allows them to strengthen the ties they already have, form new relationships and examine the body of work of their peers in a more thoughtful way. Think about with whom you really want to network and where you will derive the most professional value. Established communities such as ACC, MCCA and the Texas General Counsel Forum, and the soonto-be-launched professional networking solution from Martindale-Hubbell offer business leaders a great opportunity to make connections, demonstrate thought leadership and raise career visibility. They also afford a chance to advance professional learning by engaging in thoughtful dialogue with other like-minded individuals. There are several factors to consider when searching for a professional domain that can make a positive impact on your career. Before investing time in Web 2.0 forums, consider the two main types of businessfocused online communities. n findinganonlineCommunity ThatWillWorkforYou n Look to industry associations; many are adding a community focus. Check out industry publications that incorporate a Web 2.0 focus. Connect with university communities and take advantage of alumni networks online. Ask peers and mentors where they are networking. Run an online search for key terms such as online communities, virtual communities, social networks/ networking and law. n n n n “WhoYouKnow”onlineCommunities. ButAreonlineNetworks HeretoStay? At the LegalTech New York conference in February, LexisNexis polled attendees on their interest and use of Web 2.0 technologies. Since more than 60 percent of legal professionals polled indicate they belong to some sort of online social or professional network, it’s clear that these networks and Web 2.0 technologies are here to stay. As these numbers increase, the value of these continues to grow. n Social networks, such as LinkedIn or ZoomInfo, are dedicated to showcasing one’s background and personal connections. These kinds of online communities also offer opportunities for subject-matter experts to answer questions online, and the results are displayed for members to browse. This is a good way to show what and whom you know. Industry-focusedonlineCommunities. together around salient topics of inquiry, and discuss new trends and industry happenings. This is a great way to increase knowledge and network at the same time. With both models, it is critical to understand and respect the culture of the community in order to be successful. It is best not to jump in feet first but to spend some time learning about the ways in which the group works. Be sure to introduce yourself if there is a welcome folder, and in a short time, start to participate by offering ideas and opinions. Professional online communities are about information sharing and not about promoting your business and service. Rather, thought leadership is the currency for advancement and the main way to gain respect online. Author John Lipsey, Esq., is vice president, Corporate Counsel Services, LexisNexis Martindale-Hubbell. He can be reached at john.lipsey@lexisnexis.com. LexisNexis® Martindale-Hubbell® Another type of online community is industry-based, focusing on businesspeople within a specific profession or industry. These social networks are typically closed or private communities and many, especially on the executive level, require an application and sometimes a fee. Industry-focused online communities create opportunities to share perspectives, problem solve 18 http://www.iStockphoto.com/acilo

Table of Contents Feed for the Digital Edition of Counsel to Counsel - May 2008

Counsel to Counsel - May 2008 Contents Harassment Policies NEC Corporation of America and Duane Morris LLP Lost or Stolen Data: Minimizing Fallout On-Boarding the Board Drafting Fair, Efficient and Enforceable Arbitration Agreements Responding to Counterfeit Products Crafting an English-Only Workplace Policy Distressed Debt: New Players, Global Sophistication Make Restructuring More Complex IP Confidential: Plan Ahead, Act Fast to Protect Your Trade Secrets Adverse Changes: Think Ahead in a Strained M&A Market Optimizing Web 2.0 Technology: Expanding Your Professional Network Union Pacific Railroad Company and Patton Boggs LLP Warming Warning: Develop Your Climate Change Strategy Now Risk Sharing: Expect New Obstacles and Expenses in Syndicated Loans E-Discovery in Action Diversification at the Gate Energy

Counsel to Counsel - May 2008

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