As the recession continues to squeeze most firms in New York and across the country, partnerships are taxed with the daunting task of driving new business and remaining viable in a very difficult environment. There are many workable theories on how to do just that, from staffing cuts, alternative billing arrangements and postponing associate start dates, to dramatically cutting overhead costs, and even a growing trend among large shops to take on less lucrative work to keep associates busy and billable.
While all of these are important reforms, there is one theory that can actually provide long-term change.
