26. Mid-Market Firms Were Always Best Placed to Meet the New Reality
Mid-Market Series Part 1 The mid-market miniseries alights on the position and future prospects of mid-market law firms. This series opener, focuses on the work itself, which clients bring to our industry, and assess the evolving responses from big law, midmarket and ALSPs.
March 29, 2024 at 11:43 AM
3 minute read
The original version of this story was published on Lean Adviser
Here at Lean Adviser, we try to offer analysis and thought-leadership on important and under-discussed topics. This mini-series alights on another, the position and future prospects of mid-market law firms.
Our interest in mid-market firms has been warmly reciprocated by them. It's hardly surprising that so many mid-market firms are taking an interest in lean law. Mid-market firms are inherently structured to operate efficiently, effectively and transparently, and so the lean law methods for achieving those goals are a natural fit.
In this series opener, we'll focus on the work itself, which clients bring to our industry, and assess the evolving responses from big law, midmarket and ALSPs. The next lesson looks at when big law comes to town and the battle at the lunch counter in mid-market territories. Then we'll look at mid-market talent, and finally we'll have a wrap-up lesson, where we tie it all together, add in technology and try to predict the future.
For as long as anyone can remember, until the new reality, this is how it used to be: Base level doc reviews, research and drafting were marinated within a pool of junior associates and paralegals. The work product would eventually bubble up to a partner, who would review and either adopt and modify, or send it back to the pool for another go-around. The hourly rate was king, and rates were based on tenure not task. Good for billable hours, not so great for value or client-service delivery.
Then, almost out of nowhere, clients started to have an opinion. They raised a topic which has been at the core of our purpose from the outset: What clients want. It turned out that they wanted efficiency, effectiveness, value and price predictability. As we know from Lean Adviser, the root of all these virtuous attributes lies in attorney methods and mindsets. Yes, technology plays a part, but this all starts at the fee-earner's desk. After all, technology is a lean tool, but so are you, the attorney.
Where our industry reacted first and fastest was among ALSPs and mid-market firms. ALSPs gained a quick foothold, but also a reputation as a resource — sometimes unfair — for quick and dirty output. Mid-market firms, on the other hand, promise higher quality standards than ALSPs and they are nimbler, more flexible and have lower overheads than big law. They were ideally situated to ride this wave. As we shall explore in the next lesson, soon enough mid-market firms began eating big law's lunch, and big law fought back.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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