The American Lawyer
May 12, 2008
Corporate law firms of the future will be wealthier, larger and more international than ever, predicts professor Peter Sherer, who reviewed data going back to The American Lawyer's first survey of firm finances in 1985. Of the 47 firms studied, six will gross more than $10 billion in 2025, and only two will have gross revenues of less than $1 billion. Sherer admits that predictions based on the past are risky, but he also notes that large U.S. firms have seen astonishing growth since the '85 survey.
The Corporate Counselor
May 12, 2008
Your company wouldn't stay in business for long if it sold a lesser product at higher prices. So, asks attorney Stewart M. Weltman, why should you accept that state of affairs when it comes to your litigation matters? It's not enough to set flat fees or create litigation budgets, says Weltman. In-house counsel must learn how to proactively manage their outside counsel -- in the trenches, so to speak. He offers this rule to live by in all cases, big or small: Litigation is a dish served lean.
The National Law Journal
May 12, 2008
Few law firms work as hard to develop a system for recruiting lateral talent as they do for recruiting at the law student level. In contrast to the recruiting of inexperienced law students, firms competing for lateral talent face a more educated, and often more skeptical, audience, which makes it even more critical that the process work smoothly and cohesively. Legal recruiter Stacy Humphries has compiled anecdotes drawn from actual incidents as a 10-step how-not-to guide on lateral recruiting.