Categories:Real Estate

The incredible shrinking law firm

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  • Good article. I agree about the shape of the department determining whether it's successful.

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  • "Firms should deal with each practice area independently. That is a far more sustainable model than dragging down a practice until it’s an irrelevance"
    Indeed but law firms are driven by greed and short termism. Management is also generally pretty crude and unsophisticated compared to leading companies in other sectors.

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  • I particularly like the couple of section headings which share the names of some of the most epic prog-rock albums from the 1970s. Well done.

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  • Surely "Going for the One" or "Drama" could have been shoehorned in there somewhere to complete the hat trick?

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  • If you count "Meddle" he's got the hat trick.

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  • "Bain brought in a whole bunch of metrics that made the analysis of partners’ contributions much easier."
    Be interesting to hear more about this, and whether its widespread within firms. Done right, it can make partnerships more transparent ... done wrong it can be a tool to push good people out..

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  • An excellent, well-researched article. I note from Companies' House filings that a batch of Real Estate partners at another magic circle firm left the LLP this year - were these de-equitisations?

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