Why aren't there fewer, larger, law firms?

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c3pO4
Posts: 835
Joined: Wed Oct 19, 2011 1:34 pm

Why aren't there fewer, larger, law firms?

Postby c3pO4 » Fri Oct 21, 2011 9:42 pm

In consulting there's Mckinsey, Delloitte, Booze, Accenture, and a bunch of smaller boutiques as well as internal consulting like IBM.

Why in law are there 100-250 fairly similar firms? Will the industry ever consolidate into 5-10 firms with tens of thousands of lawyers instead of 250 firms with 300-1000 lawyers?

Is this the dumbest question ever? If so, sorry...

lawfirmrecruiter
Posts: 622
Joined: Thu Jun 16, 2011 1:28 pm

Re: Why aren't there fewer, larger, law firms?

Postby lawfirmrecruiter » Fri Oct 21, 2011 9:50 pm

Conflict of interest. The larger the firm, the more potential for conflicts.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Why aren't there fewer, larger, law firms?

Postby Anonymous User » Fri Oct 21, 2011 10:16 pm

Yes, the industry has reached a point where it cannot consolidate much further due to conflict issues.

c3pO4
Posts: 835
Joined: Wed Oct 19, 2011 1:34 pm

Re: Why aren't there fewer, larger, law firms?

Postby c3pO4 » Fri Oct 21, 2011 10:45 pm

Will these conflicts issues ever go away via legislation or something? Why does law have strict conflicts of interest rules but not business?

mrloblaw
Posts: 534
Joined: Fri Jul 22, 2011 3:00 pm

Re: Why aren't there fewer, larger, law firms?

Postby mrloblaw » Fri Oct 21, 2011 10:48 pm

c3pO4 wrote:Will these conflicts issues ever go away via legislation or something? Why does law have strict conflicts of interest rules but not business?


Given that attorney-client privilege is one of the staples of the legal profession, and Congress really has no interest in destroying legal professionalism solely to facilitate large firms, I doubt they'll be going away through legislation.




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