Chapter § 1.01 Introduction

• Jurisdiction: United States
• Publication year: 2020

§ 1.01 Introduction

The era of law firms automatically counting on continued business from their top clients, even those clients they considered their crown jewels, is over. So too is the era of law firm partners making strategic decisions in litigation without meaningful input from in-house counsel. The economic conditions following the downturn in the late 2000s had a dramatic, and quite possibly permanent, impact on the legal economy. As used here, “legal economy” refers to the relationships between law firms and the institutions that comprise their client base. One of the most significant changes brought on by the economic downturn has been a shift of power from the major AmLaw 200⁴ law firms to their clients. Specifically, control has shifted from law firms to corporate legal departments where the influential...