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Why aren't there fewer, larger, law firms?
Posted: Fri Oct 21, 2011 9:42 pm
by c3pO4
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...
Re: Why aren't there fewer, larger, law firms?
Posted: Fri Oct 21, 2011 9:50 pm
by lawfirmrecruiter
Conflict of interest. The larger the firm, the more potential for conflicts.
Re: Why aren't there fewer, larger, law firms?
Posted: Fri Oct 21, 2011 10:16 pm
by Anonymous User
Yes, the industry has reached a point where it cannot consolidate much further due to conflict issues.
Re: Why aren't there fewer, larger, law firms?
Posted: Fri Oct 21, 2011 10:45 pm
by c3pO4
Will these conflicts issues ever go away via legislation or something? Why does law have strict conflicts of interest rules but not business?
Re: Why aren't there fewer, larger, law firms?
Posted: Fri Oct 21, 2011 10:48 pm
by mrloblaw
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.