Think US law firms are throwing around big packages to lure star lateral partners? Well, yes, they may be. But their efforts pale into insignificance next to the recruitment carrot Apple Computer dangled in front of new general counsel Donald Rosenberg, who the company lured from IBM after his 30 years there.
Apple’s Securities and Exchange Commssion filing last week revealed that the company transferred 200,000 shares to Rosenberg’s name. As The Lawyer went to press, the value of 200,000 ordinary Apple shares was just short of $18m (£9.11m). Not a bad sign-on bonus at all, and certainly way out of the league of what even the most affluent of New York firms could afford to pay one man. Will it get senior partners to think about Clementi and law firm flotations more? Probably not. But it sure might make a few associates think again about the advantages of moving in-house.