Legal Marketing & PR

Mega-Mergers Might Mean More Matters for Mid-Size Firms

By Tom Kane

Sorry about that title, but the mention on the same day in AmLaw Daily News Alert of October 1, 2010 about 'preliminary' talks between Orrick and Akin Gump, and Reed Smith and Thompson & Knight (with a combined lawyer count of 1800 and 2000, respectively) struck me as odd. The oddity of that really didn't change when six days later Orrick called it off. 

I really didn't think these mega-mergers were continuing as a trend simply because of the huge conflicts that result from such BigLaw firms, but I suppose I am somewhat uninformed in this area. However, in coaching lawyers in what used to be consider large firms, (500+ lawyers), I consistently hear complaints about the ability to bring in new clients because of legal conflicts, as well as business conflicts.

Thus, the reason for the title. So, if you are a medium or smaller firm, relatively speaking, there are some potential business opportunities lurking. Not to mention that with these BigLaw firms getting even bigger, it is more likely that smaller clients will not get the attention they might prefer. They may fancy being a bigger fish in a smaller pond, as it were.

Accordingly, it might be a good time to have some strategic marketing planning in the hopper in the event that a significant merger goes through that may impact your marketplace. Stay tuned.

Full post as published by Legal Marketing Blog on October 05, 2010 (boomark / email).