In my conversations with readers, I’m occasionally met with the following questions: “Why do you guys spend so much time focusing on Big Law? What about everybody else?”
Well, those are questions that many of my colleagues at our publications across the country got. Those queries, in part, led to the creation of the Mid-Market Report, an ALM news service geared toward readers in midsize law firms—a cohort with unique challenges in the ever-evolving legal industry.
If your firm has between 30 and 200 lawyers and you would like to be featured in both The Recorder and the national Mid-Market Report, consider participating in one of their Q&As just as Bob Baradaran, managing partner of Greenberg Glusker, did earlier this year. All you have to do is have your firm’s chair, managing partner or some other firmwide leader respond to the questions below, and send them to me at firstname.lastname@example.org.
Firm Leader answering the Q&A (Name and Title):
Practice Areas (if you consider your firm to be full service, you may answer full service):
Governance structure and compensation model:
Do you offer alternative fee arrangements?
**The following answers must be completed by the firm leader named above.**
What do you view as the two biggest opportunities for your firm, and what are the two biggest threats?
The legal market is so competitive now—what trends do you see, and has anything, including alternative service providers, altered your approach? Is your chief competition other mid-market firms, or is your firm competing against big firms for the same work?
There is much debate around how law firms can foster the next generation of legal talent. What advantages and disadvantages do midsize firms have in attracting and retaining young lawyers, particularly millennials?
Does your firm employ any nonlawyer professionals in high-level positions (e.g., COO, business development officer, chief strategy officer, etc.)? If so, why is it advantageous to have a nonlawyer in that role? If not, have you considered hiring any?
What would you say is the most innovative thing your firm has done recently, whether it be technology advancements, internal operations, how you work with clients, etc.?
Does your firm have a succession plan in place? If so, what challenges do you face in trying to execute that plan? If you don’t currently have a plan, is it an issue your firm is thinking about?