According to proponents of chaos theory, the gentle flapping of a butterfly’s wings in Indonesia has the potential to spark a hurricane in Bermuda.
Now, we don’t claim to understand the complexities of the Ricker model or Poincaré maps any more than the next fella on the Clapham Omnibus, but ructions in the legal market can certainly make our ears prick up.
So, the launch of a new private equity-backed law firm, however niche the scope, is something worth noting.
Matthew Hudson, the name partner of the currently one day-old MJ Hudson (see story), compares the news to the financial services big bang.
Well, he can be forgiven a degree of bombast on day one, can’t he? But still, the injection of private equity capital into a law firm has the potential to be a game-changer.
Your global behemoths might turn their noses up at those Mayfair oiks getting their grubby nouveau riche hands on hard-earned partner profits, but a wave of niche firms with the power of a corporate may well do some major damage to the mid-market.
And with the Legal Services Act still more than a year away from coming onto the statute book, Hudson could be the legal market’s very own flapping butterfly.