Big Law Clings to ‘Guild-Like Veneer’ As ‘Super Rich’ Firms Pull Away

By J. Stephen Poor, Chair Emeritus, Seyfarth Shaw LLP

This year’s AmLaw 100 results have been published and the story told is much the same as in the past few years. Overall, the industry continues to grow — albeit at a slower pace. As in prior years, growth is not uniform. Rather, the results are decidedly mixed for firms within the survey. In short, volatility continues to increase in a traditionally non-volatile industry.

None of this is particularly surprising. Over the past few decades, Big Law has become an industry. Perhaps an industry that clings to a guild-like veneer, but ...