A mistaken and dangerous belief pervades much thinking about the U.S. legal market: that it is consolidating as larger firms grow more quickly than the market by taking share from their smaller rivals. A thoughtful look at the numbers reveals that no such consolidation is happening. This is an important correction to the prevailing wisdom. The mistaken perception of consolidation drives firms to bulk up—by merging, acquiring and hiring laterally—to avoid being at a competitive disadvantage. Such moves are high-risk, disruptive distractions for leaders whose attention is better focused elsewhere. Despite the intense effort involved, they create no strategic advantage. Wise partner groups and firm leaders will see past the prevailing dogma and focus instead on optimizing the performance of organically growing businesses.
Dive into the Am Law 200 data and personalize it based on your firm, peers and trends. Learn More
Consolidation Is Simply Not Happening
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
