In 2013, a number of law firms will not survive. Some are already in the process of dissolution. Other practices are teetering on the edge of insolvency. Certainly, some practices like real estate and corporate law have suffered more than others. Most firms have felt the pinch of the economic slowdown.
As the daily legal news confirms, the breaking apart of law firms will impact firms of all sizes, from the very large (like Dewey & LeBoeuf), where practice groups and then whole firms dissolve, to small firms in which the partners quietly close their doors. Some firms will manage the dissolution with the least amount of expense and time. For others, it will lead to ongoing litigation that will cost partners legal fees, time and expense that they can ill afford.
