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1993

Lawyers

Pace Law Faculty Publications

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Law Firm Restructuring: The Big Picture, Gary A. Munneke Jan 1993

Law Firm Restructuring: The Big Picture, Gary A. Munneke

Pace Law Faculty Publications

The term "restructuring" has become a buzzword for law firm efforts to improve the bottom line by altering the composition of the firm's personnel. In many instances, this is accomplished by "downsizing," a word more easily spoken than "firing." As opportunities for ownership interest in law firms evaporate, firms talk about "nonequity partners" and "rainmaking" skills. Such euphemisms are often used to sugarcoat the bitter medicine of economic reality. It may be useful to look more closely at the phenomenon of restructuring, although cynics might say lawyers should look at structuring first. In either case, taking a look at ...