The 2018 Thomson Reuters/Georgetown Report on Law Land

Our friends at Thomson Reuters Legal Executive Institute asked us if we might share some thoughts with them on this year’s always enlightening and probing Report on the State of the Legal Market and they published our reflections a few days ago. We are delighted...

How Big is the NewLaw Revenue Suck?

OK, that’s an uncivilized headline, so we can dignify matters by calling the NewLaw Revenue S-&$*(# the NewLaw multiplier.  This multiplier, however, is not your friend. In economics the concept of “multipliers” is widely applied.  Keynes famously argued in his...

Is BigLaw One Business, or Two?

I’m coming to the conclusion that BigLaw is not one business, but two different businesses.  Some firms (a minority) are in one business, but most firms are in another business entirely. Note what I am not saying:  I’m not saying some firms have one business model and...

Reflections of a GC

In the spirit of generosity, which I hope is an active presence in your life but which is conspicuously abroad at this time of year, a regular reader granted me permission to share some of his reflections prompted by the recent column, “The End of...

Letter from London

Observant readers will have noted that I was in London all last week and so, as is our custom, a few observations about my time and conversations there and the state of the market. This has taken me awhile to compose because, frankly, I came away with a wide array of...

The End of Leverage?

More so of late, but for some time, we’ve been harboring the suspicion that the glory days of the high-leverage model are over.  Could we be seeing the end of leverage? Of course, many management fads fashions tend to come and go, which is why we at Adam Smith, Esq....
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