S. The Business of Large Law Firm

This course will focus on the business of large US-headquartered law firms. Students in this course will develop an understanding of how large law firms work as businesses, the market pressures on them, how the senior leadership of large law firms thinks about responses to those pressures, and the role you will play as an associate in the business of a large law firm should you decide to join one.

We will examine the economics of large law firms and develop an understanding of the levers available to firms to improve their financial performance. We will consider the expectations these firms have of their associates and quantify the financial consequences of variances in performance. We will also examine key topics for the business of these firms such as D&I, partner compensation systems, marketing, and the clients’ perspective. Finally, we will study large law firm business strategies. What does “strategy” mean? What are the principal business strategies available to these firms and how do firms decide on the best strategy for them?