Law firms fail and falter. This can be easy to deny since only insiders know their firm’s peccadillos. When the firm and the falter are big enough, mainstream media will report on it for all the world to see. But, this is only the tip of the iceberg. Smaller firms, where 82 percent of lawyers work, dissolve and stumble in much greater numbers. Yet these stories go untold.
This is not to say that lawyers are not a resilient lot. Their firms fold; they pick up and find others. But, increasingly, it is a game akin to musical chairs. The number of proverbial seats is not proportionate to the number of existent lawyers and newly minted law school grads.
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