Washington DC's top lawyers talk about the future of BigLaw

The Big Law business model has fundamentally changed, according to the managing partners of some of Washington’s DC's top law firms. In a breakfast discussion hosted by The National Law Journal, industry leaders discussed what the future might hold for large law firms. The participants were T. Mark Flanagan Jr., managing partner of McKenna Long & Aldridge; Karl Racine, managing partner of Venable; and Roger Warin, chairman of Steptoe & Johnson The group discussed the increasing demand for alternative billing arrangements and requests for proposals. They also agreed that lateral hiring is increasingly being done on a practice-specific basis. As Flanagan put it, “We take a look at opportunities and decide whether they fit with our overall goals.” Asked whether the changes marked a permanent shift in the profession, the participants indicated that see them as fundamental shifts that are here to stay, particularly in regard to alternative billing arrangements.

Washington DC's top lawyers talk about the future of BigLaw legaltimes.typepad.com Mon, Dec 6, 2010