A sobering article about the decline of “BigLaw”

Anyone who is interested in the future of the legal profession should read this article from the New Republic. Of course, it’s not news that the legal profession is in a state of crisis to some degree. There is severe overcapacity, clients are spending less and those lawyers who have jobs at the larger firms are terribly unhappy. The article focuses on Chicago’s own Mayer Brown as a case study, and it’s dark reading.

Of course, capitalism is all about “creative destruction,” in the phrase made famous by Joseph Schumpeter. Some smaller practices, like goodcounsel, are trying to creatively reimagine what a successful law practice looks like in the 21st century.

Categorised as: Law Practice Innovation