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In past economic downturns, law firms have typically been immune and held their own from a financial perspective. The recent recession, however, has had a devastating effect on the business aspect of the legal profession. In the past, many firms leaned on shareholder disputes, general litigation, and bankruptcy filings to get them through the tough times. Today, many firms are finding that business people are less inclined to incur the costs and expenses of litigation, and even angry shareholders are thinking twice before incurring the high costs of litigation.

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