“Will the Balloon that is Big Law Bust?”
“Big Law does not represent consumers, generally. It does not represent small business, and often it does not represent medium size business. Big Law represents Big Business. So, Big Law is competing with more lawyers to cover a finite number of clients who can afford to pay the millions and millions of dollars Big Law requires to feed its ever increasing lawyers, staff and landlords.
And, all of this comes at at a time when civil lawsuits are falling in traditional areas. The trend of denying consumers rights to pursue companies has to have an impact. ”
But–this assumes that the big business “pie” won’t grow through taking business from smaller and medium sized firms, soaking up consumer surplus, gaining monopoly power, or any number of tactics. See CBS’ purchase of lastfm for an example of big business buying potentially independent companies, or see Google’s acquisitions of any number of smaller companies.
Rapid Growth Can Outrun a Law Firm’s Cash
Slow Growth vs. Law Firm Mergers
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