Like a magician sleight of hand trick, Snapchat founders CEO Evan Spiegel and CTO Bobby Murphy settled its contentious lawsuit quietly while Apple was announcing its new iPhone launch.
Former fraternity brother and alleged cofounder Reggie Brown had sued the dynamic duo, claiming he developed the initial idea for the app, according to Forbes. And while Snapchat has just raised funds leaving its valuation at a whopping $10 billion, the company had much wealth at stake.
This is just one of the many lawsuits facing app-building billionaires. One of Tinder’s creators, Whitney Wolfe, also settled a lawsuit, although its terms are highly confidential, according to Forbes.
As for Snapchat’s admission? Spiegel smartly said (via Forbes):
“We are pleased that we have been able to resolve this matter in a manner that is satisfactory to Mr. Brown and the Company. We acknowledge Reggie’s contribution to the creation of Snapchat and appreciate his work in getting the application off the ground.”
Certainly no big surprised in that statement. Nor any doubt shed on the success of the company, itself, admit such controversy.
If there’s one thing these companies understand, it’s that image matters most. So, while the world was looking toward iPhones and iWatches, entrepreneurs were putting out litigious, fictitious fires.
For law firms, this is the best outcome for a client. However, sometimes image problems emerge regarding firm wrongdoing. Hiring a smart public relations firm may be as valuable as gaining new clients for equity partners.
Law firms—like any private company—experience a fair share of litigation. Whether it’s a dispute filed by a former employee, accidental release of confidential client information, or compliance issues, online news these days breaks faster than cold glass in hot water.
And your firm will be in hot water if it’s not prepared.
Richard Levick, President of Levick Strategy Communications, writes of law firm PR strategy:
“Reporters are like stray cats –if you don’t feed them, they go to someone else’s door. Call them back first, even if it is to say that you can’t say anything. Reporters remember who calls them and who doesn’t. Not returning the journalist’s call today, no matter what the reason, guarantees that you won’t get the call when you do want to be in the paper.”
A PR person does not substitute for a well-spoken (and sometimes apologetic) law partner. But, law partners may need to consult a PR professional before he or she can become well-spoken.
Reduce the risk of malpractice claims (and the need for a PR firm!) by listening to C4CM’s webinar: “Drafting Ethical, Effective Engagement Letters that Reduce Firm Liability and Improve Client Relationships.”
It will address:
- The five key components every engagement letter should include,
- How to use engagement letters as tools to substantially reduce firm risk, and
- Why well-drafted engagement letters are vital to improving client relationships.
Why? Because when risk managers audit a law practice for the risk of legal malpractice, the first item they pull from the file is the engagement letter. This one document is the most reliable indicator of whether a law practice has in place systems that can effectively reduce the risks of malpractice claims.
So follow Snapchat’s lead, and while the world is temporarily distracted looking one way, address your potentially problematic PR issues today.