Law Firms: From Small to Nuts

Score one for the little guy: Clients and mainstream media are noticing that mega firms might not just be the cure-all for the legal industry. E.g., Basha Rubin, Big Law, Big Problems: The Bright Future For Small Firms, Forbes.com (July 7, 2014 12:59 pm). Sure, there’s money, prestige, and comfort associated with hiring one: we can afford this, we mean business, I’m toast if we went with the smaller firm and it lost.  But there’s also a benefit to a client for choosing a smaller firm: probably lower fees, possibly more attentive service, fewer headache-inducing conflicts-of-interest issues.

There’s also benefit to the lawyer or support staff who opts for the small firm. Yes, there may well be less money, less prestige, and possibly less glamorous workspace.  But there may well be greater opportunity, more responsibility early on, exciting challenges on a daily basis, and a real sense of contribution to something being built. Is big firm v. small firm really such a tough decision?

—Lori Tripoli

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Mega Firms Are Not Too Big to Fail

The implosion of Dewey & LeBoeuf (“Sources Say Dewey toClose Doors May 15 If Not Before,” reports AmLawDaily) is a cogent reminder to rainmakers, bread-and-butter partners, counsel, senior associates, junior associates, clueless associates, summer associates, and staff that no matter how comfortable you might be, the end might be near. It’s tempting to coast a bit when the surroundings are cushy. But in today’s economy, no one can really afford to do that. Keep that resumé polished and those contacts updated. Remember to look over your shoulder, no matter where you are. Don’t let your firm’s faltering financial situation set your career back.