Globalization and large-scale expansion can be glamorous and transformative for law firms, but what often gets drowned out in the excitement is that the process doesn’t work for everyone. The larger and more diverse a firm becomes, the more conflicts it is likely to generate, which can constrain the practices of individual partners, while others may see their practice areas marginalized as strategic priorities change. Not surprisingly, we’re seeing more new firms being formed by teams spinning off from larger law firms.
But becoming an entrepreneur isn’t easy. In a sign of how well-trodden this particular path out of Big Law has become, there’s now at least one specialty consultancy to help boutique founders get their new firms up and running.
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