Remaking news of the week: No consolidation

Today Remaking the news of the week celebrates some of the American Lawyer’s best writing in years.

On May 22, Hugh Simons and Nicholas Bruch opened their article with “A mistaken and dangerous belief pervades much thinking about the US legal market: that it is consolidating as larger firms grow more quickly than the market by taking share from their smaller rivals. A thoughtful look at the numbers reveals that no such consolidation is happening.”

Entitled Debunking the Consolidation Myth, their research is based on Am Law data over the last 20 years.

In a tightly argued analysis, the authors conclude “Consolidation is not happening. The imperative for law firms to grow is groundless.

Smaller firms that don’t expand internationally are not losing share; in fact, they’ve gained share through the Great Recession.

The data could not be clearer. And yet we know that this simple truth will be ignored.

Facts are an ineffective counterweight to long-held belief.

It’s too bad.”

Well said Hugh and Nicholas, you have proven what those of us outside the walls of the BigLaw establishment have known for some time.

More on small firms and fragmentation

From Peter George on The Dialogue: Small firms: Take your size and own it

And from me: Mid-market law firm brouhaha

Last week’s news

Big Law is facing down a market that is more volatile and uncertain than ever before, Jae Um’s refreshing analysis of the Am Law 100 2017 data re-posted on The Dialogue on May 15, 2018.

 

 

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