A venture capitalist fed up with overpriced and overly fastidious lawyers has broken the code of silence among money men to vent his frustrations on a blog. The harangue from lawyer and venture capitalist Jason Mendelson takes aim at outside lawyers' rapidly rising salaries and what he calls overlawyering on simple deals. The bottom line, he says: The unnecessary work leads to higher legal bills. "The entire business model of law firms is going to have to change," he writes, "or it's going to get uglier."
VC Slams Attorneys on Salaries, Overlawyering
June 4, 2008