Welcome to the Era of White Dwarf Law Firms

In-house counsel concerned that their outside counsel may fade away like white dwarf stars should also look at the legal profession generally, and what their own role in it may look like if they and their fellow lawyers fail to evolve:

“From the early reports, 2016 was another decent year for many large (e.g., AmLaw 200) law firms…When I said “decent year,” I really meant a disastrous year for clients, junior partners, associates, law firm staffs, and the legal profession generally…Why disastrous? Well, because anything that masks what is really happening in the industry—in this case large law firm rate increases that offset declining productivity, decreased demand, and increased costs—helps most lawyers deny that a different future already has arrived. And, that brings us to white dwarfs…”

Read: Welcome to the Era of White Dwarf Law Firms at SeytLines

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