For some time we've been talking about a "New Normal" for the legal profession, where the factors that have transformed other fields from medicine to photography----technology, buyer sophistication, global competition and the drive for efficiency----come to law. The recent legal headlines have been dominated by the rolling collapse of Dewey & LeBoeuf LLP, a very large New York based law firm. While there clearly were management problems at Dewey, we don't think Dewey's travails were an isolated event---rather they are the tip of an iceberg of larger structural change.
(Reprinted with permission of The Daily Journal Corp., copyright 2012).
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