Large Law Firms
Working with Large Law Firms
Large law firms are characterized by relatively few partners at the top and many associates underneath. The summary below highlights some of the advantages, disadvantages and general variables to consider when retaining a large law firm.
Competitive Advantages
- Multiple practice areas
- High level of expertise, particularly at partner level
- Multi-jurisdiction capabilities
- National name recognition
- In depth legal resources
- Aim to be full-service, one-stop shopping
- Thorough work product
- More technology resources
- Capacity to handle substantial deals
Competitive Disadvantages
- Higher rates/fees to cover overhead cost structure
- Greater potential for conflicts of interest
- More bureaucratic
- High associate turnover
- Typically less personal
- Multiple and cross layers of staffing on each matter
- Limited accessibility to partner for smaller clients/matters
Variables
- Focus is on larger clients and transactions
- Best service reserved for largest clientsMulti-jurisdiction capabilities
- In-firm collaboration
- Turnaround time & responsiveness
- Typically more institutional clients
- Communication frequency with clients can fluctuate
- Often urban location