Law Firm Mergers: Is Bigger Really Better?

Today we are reading about the deal that cratered between Orrick and Dewey. But what is really going on here? Is bigger really better?

Law firms continue to be merging wildly at alarming rates and are becoming conglomerate-type legal service providers. What is the vision?

If one accepts the premise that lawyers are not good managers or marketers, building these megafirms could be a bad long-term strategy. Ultimately, the legal profession is about relationships and client service, and a law firm can do quite nicely just by focusing on (1) a core clients (2) a specialized practice area and (3) a region. Never oversell and underdeliver — a maxum law firms should abide by.

Bigger is not necessarily better.

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