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Lateral hiring of partners by law firms can bring on great risks and result in huge financial disappointments. Lateral hiring can also create enormous rewards.
We have seen a spate of law firms literally fail because of...more
Since 1988, when Finley Kumble filed for bankruptcy protection, some 32 major law firms have failed. In each of those cases, liabilities far exceeded assets and in most of these cases, partners of the defunct firm and the new...more
We still need to train our young lawyers the practical skills of day to day to day lawyering. We used to run a great gig under which we took raw law school graduates whose only particular skill was to “think like a lawyer” ...more
The landscape of generating new business for law firms has drastically changed over the last 2-3 years. Arguably, “the billable hour” is on life support and Alternative Fee Agreements (“AFA”) are revolutionizing the...more
The New York Times just exposed one of the various scams law schools utilize to attract new students in a market with an ever dwindling demand for new lawyers. This recently revealed law school hucksterism is a blatant...more
The New York Times recently reported that “Armies of Expensive Lawyers, Replaced by Cheaper Software.” In fact, the computer software the Times reported about is not only dramatically cheaper -- the software is actually 5%...more
There are 76,000,000 baby boomers in the United States. Many of these baby boomers are at law firms which impose mandatory retirement policies. Many large law firms are looking ahead to having about 15% of their partners...more
After a relatively anemic lateral market for lateral law firm partners in 2010, what can we expect potential lateral partners and law firms to see in 2011?
We believe that there are ample opportunities for potential...more
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