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BalancingWork 10 - 26 Jan 2008 - Main.BarbPitman
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-- CarinaWallance - 25 Jan 2008 | | | RE (1): Legal support will get hardest hit: paralegals, then Wexis, then associates. Associates altogether will add less value to the partners. The pyramid will TAPER. But does that mean firms, with fewer associates, will need to lower associate attrition to replace the same number of partners? Will each associate be paid more?
RE (2): Will clients prefer less to consolidate their work in one firm? I wonder--have firms used requirements contracts? Either way, I think the CLIENTS enjoy an economy of scale (or is it scope?) by unloading all their problems in one place for all time.
RE (3):Will clients have fewer black-box legal problems, lowering the value of lawyers' reputations? (black-box = not of easily measurable value)
RE (4) Will lawyers make their knowledge more freely available, so that other lawyers can benefit without compensating them? I assume this cross-pollination is most implicated by Eben's vision for the future of intellectual property.
-- AndrewGradman - 26 Jan 2008 | |
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Two thoughts/observations that tie into some of what you are discussing:
(1) It's already the case that the bigger the client, the less likely the client is to consolidate its work in one firm. Companies and governmental entities often find ways to simultaneously hire as many of the prominent firms in a given community as they can, usually divvying the work by area, so that, if and when litigation time comes, all the big firms represent them. Companies basically utilize several firms continuously for different types of work so as to both disable the layer of firms with the most litigation expertise from representing the other side and to utilize that expertise.
(2) The type, nature, and quantity of cient bases in a number of practice areas is highly senstive to state and local election swings. It helps these practice areas to be composed of both Dems and Repubs who are savvy about making political connections.
These points probably sounds crass the way I've laid it out, but I'm being candid here -- take it the way you want, but realize that it exists.
-- BarbPitman - 26 Jan 2008 | | | |
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