Lobbying for Lawyers
Lobbying has always been a staple of law firm business here in Washington D.C. where I practice. But increasingly, law firms are grabbing a larger piece of lobbying work, much of which is sheltered from disclosure under the Lobbying Disclosure Act (LDA).
As reported by The Hill, two law firms, Patton Boggs and Akin Gump respectively, hold the top two slots for lobbying revenue generated. In 2007, Patton Boggs broke the $40 million mark, while Akin Gump earned $32 million in lobbying revenue.
One reason for the big gains? Much of the lobbying-related work that law firms handle involves political intelligence gathering for hedge funds and Wall Street clients that can afford to pay big fees. However, firms need not disclose this type of work under the LDA. And because many clients do not want their interest in an issue publicly known, law firms -- which have the skills to perform intelligence gathering work-- will continue to attract large clients and generate lobbying revenue.
Posted by Carolyn Elefant on February 26, 2008 at 03:44 PM | Permalink
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