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Saturday, November 21, 
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Do law firms need a new biz model?

Posted on April 30, 2009 at 5:22 PM
Filed under: Corporate Strategy | Crisis On Wall Street | Legal Brief
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If you're a lawyer or often work with lawyers (which probably covers nearly everyone reading this) you know about the painful downsizing underway at many law firms.

You may also be up on the rethinking of the law firm business model that's apparently underway in many quarters. Still, take a look at this article from Knowledge@Wharton, which explains how such fundamentals as billable hours and the partnership structure are coming under pressure -- and what might replace them.

In really tough times, it appears, restructuring isn't just for car companies. - Kenneth Klee 

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