Over at Above the Law, they wrote an article titled “The Rise of Midlaw.”  The article states,

General counsel and consultants say that to keep valuable clients, big firms have been more receptive to charging flat fees, removing some uncertainty for clients who otherwise would be billed by the hour. And when large firms do charge hourly rates, they often are doing so at a discount.

I’ve written about this shift in articles like the business of law and in abundance of opportunities in law.  In my opinion, it’s an inevitable correction in a saturated profession.  Clients are smart and cost conscience.  With technology, small firms can now act big and compete with larger firms without  the excessive overhead.

The Wall Street Journal wrote an article about the rise of midsized law firms.  They wrote,

“Bigger is better” long has applied to hiring law firms. Generally, the larger the firm, the greater its prestige and the more likely it was to reel in corporate business.

But to cut costs during the recession, U.S. businesses increasingly are handing work to less expensive small and midsize firms, typically those with fewer than 200 attorneys. And while their larger counterparts are laying off lawyers, some smaller firms are hiring attorneys to keep up with new business.

The large firms — those with several hundred, or even a thousand, lawyers — are adjusting to compete with their smaller brethren…

It’s not a matter of “if.”  It’s only a matter of time.  How are you adjusting your business model to compete in the global economy?

Tags: rise of midlaw, the advocate group