Make Mid-Sized the Right Size By Peter Marlette - October 30, 2010


Some say that the best way to become a mid-sized firm in 2010 is to have been a large firm in 2008. The convergence of a weak economy, the refusal of corporate clients to continue to pay ever-increasing hourly rates, and an explosion in communication has dramatically changed the business of running a law firm in recent years.

Those firms that refused to change have either failed or experienced dramatic decline. Their failures have created incredible opportunity for those firms with a true commitment to high quality while maintaining a reasonable rate structure.

Ninety-two-year-old, Buffalo, N.Y.-based Damon Morey has been able to achieve growth and ever-increasing profitability over the last decade, and, most significantly, through this downturn, by embracing the flexibility and innovation uniquely possible with a mid-sized firm.

Based on that success and experience, five strategic suggestions for mid-sized firms to achieve greater success follow.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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