What would it really take for an Am Law 100 firm to have a prolonged period of decline? Clearly more than a pandemic, political instability or social unrest, which combined in the last 18 months to produce a very difficult time for many but a profitable time indeed for many elite law firms. 

Countercyclical and diversified practices, a large enough footprint to weather geographical downshifts in certain markets and strong talent pipelining insulate the most profitable law firms from a variety of external factors that can impact their business, which will be detailed below.