Think segmentation, not consolidation
Here’s a bit of good news: consolidation, that most over-used of cliches, is finally to get the burial it so richly deserves. It can’t come soon enough. Over the years, it hasn’t mattered what happened, there were people waiting to tell you it would result in much-needed legal consolidation. A related and equally unconvincing claim was that there are “too many” law firms. There can at certain times be too many or too few lawyers for a certain market, but the logic that there is some proper number of law firms was always shaky. But the consolidation brigade was still sure law firms would keep getting larger both at home and abroad.
