Has the Traditional Law Firm Reached its High Water Mark?
THE MAJOR THEME OF HISTORY IS UPHEAVAL AND CHANGE. Within this recurring cycle, some generations enjoy long periods of calm and prosperity. Yet when change rears its head, those who prospered under the oId system react with a mixture of disbelief and hostility. And because they are reluctant to adapt, their institutions get swept away.
The U.S. legal profession is now exiting a period of remarkable stability. Many of us were drawn to the profession because it offered interesting work and a seemingly stable pathway to success. These assumptions are now in doubt, thus creating a serious conundrum for young lawyers . Do we invest all our energy in our pursuit of the brand name employers, despite evidence chat chose jobs are shrinking in number? Or do we look beyond traditional pathways to cry to catch the next wave of innovation, thus creating a whole new category of success?