Weekly Roundup (October 1-5, 2012)
Another interesting and informative week in the Blogosphere. This list is certainly not intended to be exhaustive and I would encourage others to add a comment on any posts that piqued their interest this week.
- Adam Smith, Esq.’s Growth is Dead: Part 5: Bruce MacEwen’s fifth installment in his excellent series. We are in a “low-growth environment,” and modern law firms must act like other “21st-Century business enterprises” to survive “or …perish.”
- Law 21’s Law Firm Profits in the Process Era: Jordan Furlong argues that the traditional law firm business model is broke because it is “people intensive” and a new “process intensive” model must emerge for large and medium-sized law firms to survive.
- “Because the volume of routine legal work is much greater than the volume of challenging work, law firms will require fewer lawyers to create and deliver their inventory — a lot fewer.”
- Corporate Counsel’s Big Law Might Be Down, But the GC is Riding High: reviewing the Harvard Business Review’s The Rise of General Counsel (okay, so I had to bootstrap a bit to get this September 27th article in this week). Discussing Ben Heineman Jr.’s (the former general counsel at GE) views that the pendulum has swung from outside counsels’ dominance to the “increasing growth, prestige and pay” for in-house counsel. Specifically responding to the New York Times’ article Big Law Steps Into Uncertain Times, Heineman writes:
- “No report on the ‘uncertain times’ facing ‘big law’ should ignore the rise of inside counsel.”
Excellent weekend reading. Of course, it’s still sunny here in Southern California, so I’ll most likely be at the beach…