Being an equity partner at a law firm used to be a give-in. For decades those who were relatively competent lawyers who served their time at the firm made equity partner.1 After the Great Recession the legal industry was hit hard and law firms were forced to reorganize themselves to remain competitive. The Recession marked…
Tag: legal industry
The Business of Law Firms: Evolution Driven by Pressure
Law firms are evolving. This evolution is in response to market pressure demanding that firms do more with less.1 To meet this demand, law firms are striving to reduce costs, improve efficiencies, and differentiate from rival firms.2 This blog is the first in a two part series, examining the evolution of law firms. This first…