Same Old Suspects When It Comes to Corporate Representation
Perhaps large firms aren't going the way of the mastodon just yet, despite various stories on how corporate clients are thinking twice about retaining their Biglaw counsel. This Corporate Counsel story, The Usual Suspects (8/20/07), summarizes the results of the sixth annual Who Represents America's Biggest Companies survey, which found that the same large firms such as Skadden, Kirkland & Ellis and Davis Polk continue to dominate.
The reason? Despite increasing costs, apparently, firms are reluctant to take the risk of making a move. Legal Blog Watch affiliate blogger Rees Morrison is quoted in the article, saying:
"There's no real reason to move elsewhere, and there's risk involved with moving on" to other firms... he adds, [firms] need these relationships, [and] most law departments stick with the partner and the firm they trust."
Perhaps the new associate salaries of $160,000 will result in a bit of a shakeup for next year. But for now, it appears that large firms can rest easy that their risk-averse corporate clients aren't going anywhere.
Posted by Carolyn Elefant on August 20, 2007 at 03:50 PM | Permalink
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