Big, As a Business Model, is So Out -- For Law Firms

While the legal industry is hardly battling the existential threat that is facing, say, the newspaper trade, Big Law — especially in competitive New York — is facing a potential paradigm shift as fundamental as the one that has hit investment banks and the auto industry. Big, as a business model (let alone as an expression of the national mood), seems bound for obsolescence.

Downfall of Big Law Firm or at Least Downsize

More buzz words:

At the root of the law-firm crisis, legal experts say, is the credit crisis, which has pulverized the need for traditional practice areas like structured finance, mergers and acquisitions and private-equity transactions

When You Walked Into a Room Certain Assumptions Went With You

The demise of the New York law firm:

http://www.nytimes.com/2009/06/07/nyregion/07law.html?hp=&pagewanted=all