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Legal Profession Commons™

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Law and Economics

Cornell Law Faculty Publications

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Full-Text Articles in Legal Profession

Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen Dec 2001

Megafirms, Randall S. Thomas, Stewart J. Schwab, Robert G. Hansen

Cornell Law Faculty Publications

This Article documents and explains the amazing growth of the largest firms in law, accounting, and investment banking. Scholars to date have used various supply-side theories to explain this growth, and have generally examined only one industry at a time. This Article emphasizes a demand-side explanation of firm growth and shows how the explanation is similar for firms in all "project" industries. Legal regulation also plays an important role in determining industry structure. Among the areas covered in this Article are the growth of Multidisciplinary Practice firms (MDPs). MDP growth can best be understood by looking more broadly at the …

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Nonlegal Regulation Of The Legal Profession: Social Norms In Professional Communities, W. Bradley Wendel Oct 2001

Nonlegal Regulation Of The Legal Profession: Social Norms In Professional Communities, W. Bradley Wendel

Cornell Law Faculty Publications

What should be done about lawyers who persist in violating ethical norms that are not embodied in positive disciplinary rules? That question has been a recurrent theme in recent legal ethics scholarship. One response has been to propose, experiment, amend, tinker, draft, comment, and redraft, in an attempt to codify the standard of conduct observed to be flouted widely by the practicing bar. Bar associations and courts are seemingly engaged in a never-ending process of promulgating new codes of professional conduct or rules of procedure under which lawyers may be sanctioned for such conduct as bringing frivolous lawsuits, abusing the …

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