Page 38 - Lawyers and Accountants - The Future of the Professions
P. 38
Lawyers and Accountants 2019 -
Biglaw implies that the firms are global; however, the reality is that firms are international at best. Biglaw will
continue to consolidate in the high-end market. Network member firms represent a location for each firm to
find the talent to complete their team for any transaction.
The assumption is that these firms
already have connections. There are
only 300 firms in the United States
large enough to have any significant
international practice.115 Networks
can easily approach these firms
acting as a group. This provides all of
them access to quality firms for their
clients. These firms are not in competition with local
firms in the vast majority of countries.
If you put the charts together, one discovers a
fantastic and low-cost opportunity.
Beyond the 25 largest, U.S. law firms do not have
large international practices necessitating offices in
other countries. This does not necessarily mean they
do not have international clients.116
Their predilection may be to use indigenous firms as
opposed to the competition, verein or the Big Four.
115 United States-Based Law Firms, WIKIPEDIA, https://en.wikipedia.org/wiki/List_of_largest_United_States-based_law_firms.
116 Nicholas Bruch, ALM Legal Compass Snapshot: The NLJ 500, LAW.COM (June 28, 2018), https://www.law.com/2018/06/28/alm-legal-compass-
snapshot-the-nlj-500?et=editorial&bu=ALM%20Intelligence&cn=20180628&src=EMC-Email&pt=Analyst%20Brief.
35
Biglaw implies that the firms are global; however, the reality is that firms are international at best. Biglaw will
continue to consolidate in the high-end market. Network member firms represent a location for each firm to
find the talent to complete their team for any transaction.
The assumption is that these firms
already have connections. There are
only 300 firms in the United States
large enough to have any significant
international practice.115 Networks
can easily approach these firms
acting as a group. This provides all of
them access to quality firms for their
clients. These firms are not in competition with local
firms in the vast majority of countries.
If you put the charts together, one discovers a
fantastic and low-cost opportunity.
Beyond the 25 largest, U.S. law firms do not have
large international practices necessitating offices in
other countries. This does not necessarily mean they
do not have international clients.116
Their predilection may be to use indigenous firms as
opposed to the competition, verein or the Big Four.
115 United States-Based Law Firms, WIKIPEDIA, https://en.wikipedia.org/wiki/List_of_largest_United_States-based_law_firms.
116 Nicholas Bruch, ALM Legal Compass Snapshot: The NLJ 500, LAW.COM (June 28, 2018), https://www.law.com/2018/06/28/alm-legal-compass-
snapshot-the-nlj-500?et=editorial&bu=ALM%20Intelligence&cn=20180628&src=EMC-Email&pt=Analyst%20Brief.
35
