For decades, law firms have had one of the most successful business models around. Having weathered many storms, threats, and changes, law firms have managed to increase their profits almost without interruption over the years. As a sector, they have succeeded in growing at a faster pace than the...
For decades, law firms have had one of the most successful business models around. Having weathered many storms, threats, and changes, law firms have managed to increase their profits almost without interruption over the years. As a sector, they have succeeded in growing at a faster pace than the economy in which they operate. Most partners are confident that, one way or another, this will also be the case in the future. Death of a Law Firm argues that now, for the first time in history, law firms are at an existential crossroads. Taking the wrong direction might very well lead to collapse: the death of a law firm.
Dark clouds are building heavily in the sky. When the right measures are taken, it is perfectly possible not only to survive the coming storm but to come out even stronger than before. To compensate for the eroding effect of commoditization, law firms have to change their business model. However simple it might seem, changing a business model might be one bridge too far for most firms. As this book argues, the inner workings of law firm partnerships are rigged against change. In reading this book, you will gain an unprecedented insight into the psychology of the partner group—or maybe even a confronting look in the mirror.
The good news is that the global legal market will continue to grow. We are not in a shrinking market. The players in the market, however, will be significantly reshuffled in the next five years, leading to the rise of some and to the death of others. Read the book and make sure your firm ends up in the right category.
Praise for Death of a Law Firm
“Death of a Law Firm is full of important insights about major law firms today: their strengths, weaknesses, and eccentricities. The author knows this world in complete detail and pulls no punches in his analysis of critical business and organizational issues. This is a book not to be missed.”
—James R. Silkenat, former President of the American Bar Association
“Jaap presents precious and thought-provoking ideas in an engaging and entertaining style, giving valuable insight into how law firms operate and what threats they face. Though you may agree or disagree with his sometimes provocative or rebellious opinions, the book is surely an intriguing must-read for all lawyers who take themselves and their future seriously!”
—Dr. Orsolya Görgényi, LL.M., immediate Past President of AIJA
“Law firm economics is near and dear to my heart, and I can say that the Death of a Law Firm stimulates the economic side of the legal vertical mind—highlighting its great importance. It’s a fascinating read that challenges the status quo and taps into our other senses, showing how to increase your probabilities of success. Each chapter is a constant challenge to the traditional approach—like using the opposite hand when you pick up things—providing many “aha!” moments. I have been in the legal space for more than 17 years, working on profitability models and legal operations. Death of a Law Firm provides insights that can help those in the legal industry advance.”
—Vincent J. Cordo, Jr., Sourcing Officer, Shell Oil Company