Comments on: Remaking the Legal Industry http://mikemcbrideonline.com/2008/12/remaking-the-legal-industry/ Thu, 03 May 2012 11:50:07 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Mike McBride http://mikemcbrideonline.com/2008/12/remaking-the-legal-industry/comment-page-1/#comment-580 Mike McBride Wed, 31 Dec 2008 13:51:00 +0000 http://mikemcbrideonline.com/2008/12/remaking-the-legal-industry/#comment-580 Mark, it is BigLaw imploding, but it's also hitting many smaller firms as well. Firms that aren't charging the rates you mention nor up to their armpits in debt are still seeing quite a slow down in revenues, and making cuts. They might not be as drastic, or newsworthy, but they're being made all across the legal industry. As the cost of litigation has risen, and electronic discovery is a part of those costs just as associate salaries, and firm debt are a part as well, clients will adjust their behavior. I think we're seeing that, and that's why all law firms, from solo to BigLaw are going to have to adjust to what the clients are doing. Mark, it is BigLaw imploding, but it’s also hitting many smaller firms as well. Firms that aren’t charging the rates you mention nor up to their armpits in debt are still seeing quite a slow down in revenues, and making cuts. They might not be as drastic, or newsworthy, but they’re being made all across the legal industry. As the cost of litigation has risen, and electronic discovery is a part of those costs just as associate salaries, and firm debt are a part as well, clients will adjust their behavior. I think we’re seeing that, and that’s why all law firms, from solo to BigLaw are going to have to adjust to what the clients are doing.

]]> By: Mark Astarita http://mikemcbrideonline.com/2008/12/remaking-the-legal-industry/comment-page-1/#comment-579 Mark Astarita Wed, 31 Dec 2008 03:50:00 +0000 http://mikemcbrideonline.com/2008/12/remaking-the-legal-industry/#comment-579 No mystery. It's BigLaw imploding. <br/><br/>http://seclaw.blogspot.com/2008/12/biglaw-in-trouble.html No mystery. It’s BigLaw imploding.

http://seclaw.blogspot.com/2008/12/biglaw-in-trouble.html

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