"The reports of my death have been greatly exaggerated."
--- Samuel L. Clemens
(a.k.a. "Mark Twain")
(American humorist and author, 1835-1910)
Some law firm management pundits gravely predicted in 2020 that the global pandemic would lead to the death of the small law firm. (Of course, many of these same people had been trumpeting the invevitable triumph of "BigLaw" for years before.) As an article in today's Global Legal Post, points out, the reality has been much different. The author observes -- and we at Walker Clark enthusiastically agree -- that:
The flexibility of the legal consultancy model could offer smaller firms the edge over their rivals.
-- Joan Losty
"A Brighter Future for Smaller Law Firms"
The Global Legal Post, 8 August 2022
Although the data referenced in Ms. Losty's article is from the United Kingdom, we have observed the same thing in other legal services markets worldwide, including ones that are often mistakenly assumed to be dominated by the big national and international law firms. Well-managed, innovative, smaller firms can not only survive, but can compete very effectively against their larger, better-known competitors. They are an important part of the future of the legal services industry as they continue to attract and retain the most desirable clients, high-value legal work, and some of the best lawyers.