Law Commons^™

The Futures Of Law, Lawyers, And Law Schools: A Dialogue, Sameer M. Ashar, Benjamin H. Barton, Michael J. Madison, Rachel F. Moran

Articles

On April 19 and 20, 2023, Professors Bernard Hibbitts and Richard Weisberg convened a conference at the University of Pittsburgh School of Law titled “Disarmed, Distracted, Disconnected, and Distressed: Modern Legal Education and the Unmaking of American Lawyers.” Four speakers concluded the event with a spirited conversation about themes expressed during the proceedings. Distilling a lively two days, they asked: what are the most critical challenges now facing US legal education and, by extension, lawyers and the communities they serve? Their agreements and disagreements were striking, so much so that Professors Hibbitts and Weisberg invited those four to extend their …

Deregulation And The Lawyers' Cartel, Nuno Garoupa, Milan Markovic

Faculty Scholarship

At one time, the legal profession largely regulated itself. However, based on the economic notion that increased competition would benefit consumers, jurisdictions have deregulated their legal markets by easing rules relating to attorney advertising, fees, and, most recently, nonlawyer ownership of law firms. Yet, despite reformers’ high expectations, legal markets today resemble those of previous decades, and most legal services continue to be delivered by traditional law firms. How to account for this seeming inertia?

We argue that the competition paradigm is theoretically flawed because it fails to fully account for market failures relating to asymmetric information, imperfect information, and …

Law Firm Dynamics: Don’T Hate The Player, Hate The Game, Tom Kimbrough

SMU Law Review Forum

This paper concerns the business of law, a subject ignored by legal academia and sugarcoated by the organized bar. If law professors express little or no interest in this subject, their students most certainly do. Indeed, I have found that students are desperately hungry for information on the day-to-day realities of working in a law firm. Students are especially keen to learn about possible paths for career advancement within firms, across them, or across the organizations served by the firms.

Paths for career advancement do exist, but they are not easy to find or pursue. Law firms are hardly going …

Lawyers That (Say They) Listen: An Exploratory Study Into Law Firms With Listening Specific Branding, Kacey Henriques

Honors Theses

The following investigation attempts to explore the communication dynamics between law firms and their clients. As shown in this research, clients tend to make note of poor communication skills, specifically listening skills, when they interact with attorneys. In an attempt to appeal to clients who have had negative interactions in respect to listening, several law firms across the country are utilizing branding that stresses their strengths in listening (what I term listening specific branding). In the investigation to come, three law firms are analyzed that utilize this type of branding. Additionally, three law firms that specialize in similar areas of …

Technocapital@Biglaw.Com, Bruce A. Green, Carole Silver

Northwestern Journal of Technology and Intellectual Property

The transformative potential of technology in legal practice is well recognized. But wholly apart from how law firms actually use technology is the question of what law firms say about how they use and relate to technology—in particular, how law firms communicate whether technology matters and has value in what they do. In the past, firms in the BigLaw category, especially at the top echelon, have grounded their reputations on the credentials and achievements of their lawyers. In this paper, we explore whether elite law firms use technology similarly by describing it as an additional tool of inter-firm competition—a sort …

Technocapital@Biglaw.Com, Bruce A. Green, Carole Silver

Faculty Scholarship

The transformative potential of technology in legal practice is well recognized. But wholly apart from how law firms actually use technology is the question of what law firms say about how they use and relate to technology—in particular, how law firms communicate whether technology matters and has value in what they do. In the past, firms in the BigLaw category, especially at the top echelon, have grounded their reputations on the credentials and achievements of their lawyers. In this paper, we explore whether elite law firms use technology similarly by describing it as an additional tool of inter-firm competition—a sort …

Biglaw: Money And Meaning In The Modern Law Firm, Milton C. Regan, Lisa H. Rohrer

Georgetown Law Faculty Publications and Other Works

The Great Recession intensified large law firms’ emphasis on financial performance, leading to claims that lawyers in these firms were now guided by business rather than professional values. Based on interviews with more than 250 partners in large firms, Mitt Regan and Lisa H. Rohrer suggest that the reality is much more complex. It is true that large firm hiring, promotion, compensation, and termination policies are more influenced by business considerations than ever before and that firms actively recruit profitable partners from other firms to replace those they regard as unproductive. At the same time, law firm partners continue to …

Fee-Shifting Statutes And Compensation For Risk, Maureen S. Carroll

Articles

A law firm that enters into a contingency arrangement provides the client with more than just its attorneys' labor. It also provides a form of financing, because the firm will be paid (if at all) only after the litigation ends; and insurance, because if the litigation results in a low recovery (or no recovery at all), the firm will absorb the direct and indirect costs of the litigation. Courts and markets routinely pay for these types of risk-bearing services through a range of mechanisms, including state fee shifting statutes, contingent percentage fees, common-fund awards, alternative fee arrangements, and third-party litigation …

Capitalizing On Healthy Lawyers: The Business Case For Law Firms To Promote And Prioritize Lawyer Well-Being, Jarrod F. Reich

Faculty Scholarship

This Article is the first to make the business case for firms to promote and prioritize lawyer well-being. For more than three decades, quantitative research has demonstrated that lawyers suffer from depression, anxiety, and addiction far in excess of the general population. Since that time, there have been many calls within and outside the profession for changes to be made to promote, prioritize, and improve lawyer well-being, particularly because many aspects of the current law school and law firm models exacerbate mental health and addiction issues, as well as overall law student and lawyer distress. These calls for change, made …

Jewish Lawyers And The U.S. Legal Profession: The End Of The Affair?, Eli Wald

Touro Law Review

No abstract provided.

Seeking Shelter In The Minefield Ofunintended Consequences - The Traps Oflimited Liability Law Firms, Susan Saab Fortney

Susan S. Fortney

No abstract provided.

Capitalizing On Healthy Lawyers: The Business Case For Law Firms To Promote And Prioritize Lawyer Well-Being, Jarrod F. Reich

Georgetown Law Faculty Publications and Other Works

This Article is the first to make the business case for firms to promote and prioritize lawyer well-being. For more than three decades, quantitative research has demonstrated that lawyers suffer from depression, anxiety, and addiction far in excess of the general population. Since that time, there have been many calls within and outside the profession for changes to be made to promote, prioritize, and improve lawyer well-being, particularly as many aspects of the current law school and law firm models exacerbate mental health and addiction issues, as well as overall law student and lawyer distress. These calls for change, made …

The Effects Of Educational Debts On Career Choices Of Graduates Of The University Of Michigan Law School, David L. Chambers

Bibliography of Research Using UMLS Alumni Survey Data

In 1966, the University of Michigan Law School began an annual survey of selected classes of its graduates. Beginning in the early 1980s, annual surveys of those five and fifteen years after law school included questions about educational debts incurred during college and law school as well as about career plans at the beginning and end of law school and actual job held in the years since law school. This paper, written in 2009, examines the possible effects of debts on career decisions and job choices made before, during and after law school by the graduating classes of 1976 through …

The New Normal Ten Years In: The Job Market For New Lawyers Today And What It Means For The Legal Academy Tomorrow, Bernard A. Burk

FIU Law Review

No abstract provided.

Telling Your Story: Using Metrics To Display Your Value (H2), Wendy E. Moore, Thomas J. Striepe, Steve Lastres, Joy Shoemaker

Presentations

The American Bar Association, academic institutions, law firms, and governments are demanding more and more outcome-based performance. However, displaying these outcomes is difficult for law libraries. Law libraries possess an abundance of data, but determining which metrics will showcase your law library’s value and performance is difficult. Speakers from a law school, law firm, and court library will explain the different metrics they use to display their value to their stakeholders. After these short presentations, a “fishbowl” discussion will provide participants the chance to share and learn about different metrics and tools law libraries are using to best tell their …

Virtuous Billing, Randy D. Gordon, Nancy B. Rapoport

Randy D. Gordon

Aristotle tells us, in his Nicomachean Ethics, that we become ethical by building good habits and we become unethical by building bad habits: “excellence of character results from habit, whence it has acquired its name (êthikê) by a slight modification of the word ethos (habit).” Excellence of character comes from following the right habits. Thinking of ethics as habit-forming may sound unusual to the modern mind, but not to Aristotle or the medieval thinkers who grew up in his long shadow. “Habit” in Greek is “ethos,” from which we get our modern word, “ethical.” In Latin, habits are moralis, which …

Adopting Law Firm Management Systems To Survive And Thrive: A Study Of The Australian Approach To Management-Based Regulation, Susan Saab Fortney, Tahlia Gordon

Susan S. Fortney

In Australia, amendments to the Legal Profession Act require that incorporated legal practices (ILPs) take steps to assure compliance with provisions of the Legal Profession Act 2004. Specifically, the legislation provides that the ILP must appoint a legal practitioner director to be generally responsible for the management of the ILP. The ILP must also implement and maintain “appropriate management systems" to enable the provision of legal services in accordance with the professional obligations of legal practitioners. Because the new law did not define “appropriate management systems” (AMS) the Office of Legal Services Commissioner for New South Wales worked with representatives …

The Law Firm Operations Team: Collaborative Agent Of Change In A Changing Profession, James Keuning, Ann Rainhart

Mitchell Hamline Law Review

No abstract provided.

An Invitation Regarding Law And Legal Education, And Imagining The Future, Michael J. Madison

Articles

This Essay consists of an invitation to participate in conversations about the future of legal education in ways that integrate rather than distinguish several threads of concern and revision that have emerged over the last decade. Conversations about the future of legal education necessarily include conversations about the future of law practice, legal services, and law itself. Some of those start with the somewhat stale questions: What are US law professors doing, what should they be doing, and why? Those questions are still relevant and important, but they are no longer the only relevant questions, and they are not the …

How Do Accounting Practices Spread? An Examination Of Law Firm Networks And Stock Option Backdating, Teck Meng Junior Tan, Patricia M. Dechow

Research Collection School Of Accountancy

We hypothesize that one way that accounting practices spread is through law firm connections. We investigate this prediction by examining companies that avoided reporting compensation expense by engaging in stock option backdating. We hypothesize that executives engaged in backdating because they were desensitized to its inappropriateness when they learned through their legal counsel that other companies were engaging in this practice. We identify backdating companies through backdating-related restatements of earnings. Using network analysis, we document that backdating companies are more highly connected with other backdating companies via shared law firms. Logistic regressions indicate that the odds of a company backdating …

The Business Of Law: Evolution Of The Legal Services Market, Tyler J. Replogle

Michigan Business & Entrepreneurial Law Review

The legal services market is changing. This change has been driven by various factors through the years: expansion of in-house legal departments, globalization (through mergers and outsourcing), technological advances, and the rise of alternative legal service providers. This paper explores these factors in isolation—i.e., discussing each factor separately and distinctly from other factors. Then, this paper seeks to understand these factors together, as products of a legal services market that is evolving from the growth stage into the mature stage.

Part I summarizes the early history of law firms, including the rise of the Cravath System through the Golden Era …

Efficiency Engines: How Managed Services Are Building Systems For Corporate Legal Work, William D. Henderson

Articles by Maurer Faculty

No abstract provided.

Market Information And The Elite Law Firm, Elisabeth De Fontenay

Faculty Scholarship

As a subcategory of contract negotiations, corporate transactions present information problems that have not been fully analyzed. In particular, the literature does not address the possibility that parties may simply be unaware of value-increasing transaction terms or their outside option. Such unawareness can arise even for transactions that attract many competing parties, if the bargaining process is such that (1) the price terms are negotiated and fixed prior to the non-price terms, contrary to the standard assumption; and (2) some of the non-price terms remain private for some period of time.

A simple bargaining model shows that, when such unawareness …

Talent Systems For Law Firms, William D. Henderson

Articles by Maurer Faculty

irtually every large US law firm owes its rise and success to a talent system it adopted several decades ago. These talent systems were effective because they created highly skilled business lawyers in a way that aligned the interests of partners, associates, and clients. The most prominent example is the Cravath System, though other business lawyers throughout the US were making similar discoveries at roughly the same time. The tremendous forward momentum of these first-generation talent systems has created the problem of ahistorical partners — owners who collect the late-stage benefits of a talent system approach without understanding its original …

Book Review. Glass Half Full: The Decline And Rebirth Of The Legal Profession By Benjamin H. Barton, William D. Henderson

Articles by Maurer Faculty

No abstract provided.

When Bad Guys Are Wearing White Hats, Catherine A. Rogers

Catherine Rogers

Allegations of ethical misconduct by lawyers have all but completely overshadowed the substantive claims in the Chevron case. While both sides have been accused of flagrant wrongdoing, the charges against plaintiffs’ counsel appear to have captured more headlines and garnered more attention. The primary reason why the focus seems lopsided is that plaintiffs’ counsel were presumed to be the ones wearing white hats in this epic drama. This essay postulates that this seeming irony is not simply an example of personal ethical lapse, but in part tied to larger reasons why ethical violations are an occupational hazard for plaintiffs’ counsel …

Recognizing The Social And Economic Value Of Transactional Law Clinics: A View From The United Kingdom, Elaine Campbell

Journal of Legal Education

No abstract provided.

The Changing Economic Geography Of Large U.S. Law Firms, William D. Henderson, Arthur S. Alderson

Articles by Maurer Faculty

The number of lawyers working for large U.S. law firms has increased dramatically. One important manifestation of this is the growing network of branch offices. Informed by three theories of spatial change—law firms (i) following the geographic expansion of their clients, relying on (ii) traditional agglomeration economies and relying on (iii) agglomeration benefits emerging from a location’s connectivity to other important geographies— we analyze longitudinal data on large U.S. law firms and the global urban network in which they are embedded. We find that, after the late 2000s, geographic expansion was less connected to organic market growth in U.S. domestic …

Human Capital Discrimination, Law Firm Inequality, And The Limits Of Title Vii, Kevin Woodson

Law Faculty Publications

This Article advances the legal scholarship on workplace inequality through use of evidence derived from interviews of a sample of black attorneys who have worked in large, predominantly white law firms. It does so by calling attention to the manner in which these firms operate as sites of human capital discrimination — patterns of mistreatment that deprive many black associates of access to the substantive work opportunities crucial to their professional development and career advancement. This Article identifies the specific arrangements and practices within these firms that facilitate human capital discrimination and describes the varied, often subtle harms and burdens …

Agency Costs In Law-Firm Selection: Are Companies Under-Spending On Counsel?, Elisabeth De Fontenay

Faculty Scholarship

A growing body of literature examines whether corporate clients derive sufficient value from the law firms that they engage. Yet little attention has been paid to whether clients optimally select among law firms in the first place. One entry-point is to identify discrepancies in the quality of counsel selected by different corporate clients for the very same work. Using a large sample of loans, this Article finds that major U.S. public companies select lower-ranked law firms for their financing transactions than do private equity-owned companies, controlling for various deal characteristics. While some of this discrepancy can be attributed to value-maximizing …