While some boutique firms have suffered serious blows from the economy, many are seeing distinct advantages over larger competitors when it comes to weathering the storm, say boutique leaders and law firm observers. Boutiques generally have much lower overhead costs, little to no major debt, and more flexibility when it comes to costs and billing rates. One boutique chairman likens the difference between big firms and boutiques to the difference between driving a Lincoln Town Car and a Ferrari.
Boutique Firms Well-Positioned in Current Economy
The National Law Journal
December 3, 2008