27. What Happens to Mid-Market Firms When Big Law Comes to Town?

Mid-Market Series Part 2
Many mid-market firms are now wondering how to differentiate themselves and defend their turf. The answer is that they already have a set of cards which, played right, can be a winner.

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Welcome to Part 2 of our mini-series on mid-market (see Part 1 here). Picture the scene. Imagine a typical regional town, with a well-established network of mid-market law firms. Life went along fine for a few hundred years, but recently the clients started to face ever-increasing business complexities and regulatory challenges. Just like every client everywhere.

As the importance and fee-potential of the work increased, so Big Law started to take notice. What was once a fly over town, en route between big cities, became a target territory. After all, mid-market firms have been eating Big Law’s lunch for years, pivoting off being more agile and hungrier, while having lower overheads and a more client-centric approach. Oftentimes, the client would migrate to a mid-market firm so quietly that the Big Law firm didn’t take notice. 

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