One of my premises in my Law Firm 2.0 series has been that lawyers are going to leave the big firms and create boutiques that will charge 30-40% less per hour, provide the same quality service and allow lawyers to make comparable compensation with working less hours.
They won’t have the bandwidth for some of the large corporations and potentially will lose out on “rocket science” work (maybe not), but for 80-90% of all core work they will do the trick for most venture-backed companies.
Recently, one Silicon Valley stalwart of the big firm model, John Fox did just that. I’ve worked with John in the past and he is a really strong lawyer, so this is very interesting. I would not expect this to be the case of him being on the downside of his career or not at the top of his game and being forced out of BigLaw.
We’ll see how this plays out in 2010, but this New Year’s eve article certainly piqued my interest.