Publicly Traded Law Firms. WSJ.com’s Law Blog reported that Australian plaintiff’s firm Slater & Gordon is The World’s First Publicly Traded Law Firm. As the article points out: Why go public? An IPO is largely a financing tool, so what do they need the money for?
Purpose of a Large Law Firm. Mike Dillon, General Counsel of Sun Microsystems offered his take on the future of law firms: The Way of the Mastadon. “[T]he epoch of the current law firm model – which derives its profitability from growing scale and raising hourly rates – will soon be over. The firms that will survive and thrive are those that recognize this change and focus on how to maintain margins by focusing on efficiency.”
MySpace. MySpace Helps Attorneys Find Clients. Tales of lawyers using MySpace as a marketing tool.
Am Law 100 vs. Am Law 200. The smaller law firms are losing ground on the bigger law firms reports Law.com. “Profits per equity partner at the top 100 firms averaged $1.21 million, nearly double that of the Second Hundred’s $624,000. Average compensation-all partners at Am Law 100 firms was $941,000, compared to $509,000 at Second Hundred firms.”