Is There a Need for an Economics of Law Practice Section?
| Publication year | 1985 |
| Pages | 2179 |
| Citation | Vol. 14 No. 9 Pg. 2179 |
1985, December, Pg. 2179. Is There A Need For An Economics of Law Practice Section?
In early 1985, the Colorado Bar Association ("CBA") contemplated forming a new section of the Bar which would address the needs of the general practitioner, the solo practitioner, the small firm and those interested in the economics of law practice. The concept was approved at the CBA Mid-Year Meeting, and later by the Board of Governors. The CBA currently has a Law Office Management Committee, which is separate from the General/Small Firm Practice Section.
It is possible that the new General/Small Firm Practice Section may address some but not all issues relating to the economics of law practice. This column introduces the idea of forming a separate Economics of Law Practice Section, which would replace the Law Office Management Committee. A larger group than currently participates in the Law Office Management Committee may join the new section without feeling obligated to attend every session, and yet still receive the benefits that are offered. A short survey follows the article, asking for input from the Bar on this subject.
It appears from the available American Bar Association ("ABA") data that the vast majority of lawyers do not practice in one substantive area. Those that claim to be specialists usually respond to specific inquiries by indicating that their practice is limited to three or four substantive areas. It would be more accurate to label this as some type of generalized practice. It is possible that those who practice in several areas are not adequately covered by membership in other bar association sections or committees.
Almost one-half of all lawyers in the country are in solo practice. That number seems to have remained constant for many years. When the number of attorneys practicing in small firms is added, the total number of lawyers in those two groups (solo and small firm) represents a majority of the practicing bar. In fact, less than 15 percent of the entire United States lawyer population practices in firms of ten or more lawyers. The average size of a law firm in the country is slightly more than four lawyers. The Colorado Bar comprises statistics similar to the national average...
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