This is certainly not law firm lawyer work,
not elite law firm lawyer work.
Not exact matches
The conceit that
law is
not a business, or only incidentally so, seems connected with the efforts of
elite lawyers in the early years of this century to distance themselves from the buccaneer - founders of their own
firms and from «hustling» immigrant lawyers, as well as to assert their independence from their own clients.
For example, global
law firm Clifford Chance, which Chambers ranks as an «
elite»
firm in the UK for commercial disputes, does
not make it into the Premonition top 10 based on public win rate data for the Commercial Court.
And like it or
not, most prominent
firms will favor minority graduates from
elite law schools over those who attended lower - tiered schools.
TC: We categorize our
firm as an
elite international one, and what that means for us is to look to cover
not everything within the
law but a selection of core areas.
The «
elite» lawyers may consider lawyers in solo or small -
firm practice to be second - tier, but I don't know many solos or small -
firm lawyers — some who are practicing
law at the highest levels — who think of themselves that way.
At the same time there were new disruptive entrants to market such as Quinn Emanuel, Stewarts
Law, Signature Litigation, Enyo, etc. whose strategy was to provide a «conflict free» litigation service, enabling them to act for individuals, private equity houses and hedge funds in major pieces of litigation against the banks, work that the established
elite firms in London could
not touch.
The small and middle - size
firm will prosper because they don't charge egregious bills, they don't have to sustain outrageous partner draws and they aren't governed by the graduates of the so - called «
elite»
law schools.
To the extent that large
law firms are no longer able to offer their lawyers meaningful opportunities to exercise and develop practical wisdom and professional judgment, that is, insofar as they are
not able to sustain a credible promise to produce high quality work and provide quality training and mentorship to their associates, and as the number of large
law firms continues to grow, decreasing the ability of each individual
firm to represent a high number of
elite clients, the large
firms may find themselves unable to sustain a credible claim to
elite professional status.
That said, there may well be a global
elite of
law firms, around 20 in number today (but likely to merge into a smaller cadre in the coming decade), who feel that they do
not need to change.
To the contrary, those about to embark upon that journey confront: (1) the daunting cost of
law school; (2) an average of $ 120K debt for attending; (3) a job market where, nationally, close to half of all graduates do
not have Bar - required employment nine months after graduation; (4) a widespread market perception that
law school graduates — even those from
elite schools — lack «practice ready» skills; (5) cut - backs in hiring newly minted lawyers — even among many stalwart
law firms; (6) an erosion of mentorship due in part to pressure on senior lawyers to «produce» more (7) the unlikelihood of making (equity) partner; (8) instability of
law firms; (9) global competition; (10) technology companies creating products that replace services; and (11) a blizzard of negative press trumpeting the glum prospects for the profession; and (12) alternative career choices — finance, accounting, technology, etc. — that portend greener pastures and do
not require the same time and financial commitment to prepare for entry.