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BigLaw Trying to Change the Rules?

By Mark H. Astarita, Esq.

BigLaw has been unable to sustain itself, and the economic decline has uncovered the flaw in the BigLaw business model. Now, BigLaw is crying the blues and has apparently decided to change the rules of the game. In her MyShingle.com article, Carolyn Elefant comments on a movement by BigLaw to change the rules of the game, to suit its own needs. These changes will not enhance the practice of law, or the interests of clients, but rather will enhance the business of BigLaw. BigLaw wants to use restrictive covenants to prevent its partners and associates from servicing ciients after they leave the firm. BigLaw finds itself in its current problem because it borrows money to pay partners. That's it, plain and simple. Live beyond your means, and you put yourself in a precarious financial position...continue to full post

Full post as published by SECLaw.com on January 27, 2009 (boomark / email).