In recent years, the legal industry has seen many changes in the landscape of its workforce and overall practice trends.
With all the layoffs at many large firms, a lot of attorneys took to hanging out their shingles and starting smaller practices.
Now, some are predicting that small law firms may be the way of the future for the legal profession. But why would clients, or rather, why should clients flock to smaller firms for legal services? If you are faced with such a question from a client, here's what you can tell them:
Small law firms are often niche specific. Attorneys at a smaller firm tend to offer one practice area or a few related practice areas. At a large firm, the advantage is always that a client can get a full service shop for all their legal needs.
While a small firm might not serve as a one-stop shop, clients are likely to get equally good legal expertise at a smaller firm, for a lower price.
In fact, in some smaller firms, clients might even get a higher degree of expertise in a matter, since the firm's attorneys devote much of their time to fewer practice areas.
The other benefit of a smaller firm is that a clients can get more personalized attention. Smaller shops are known for that. Their bread and butter is client referrals so it is in their best interests to keep current clients happy.
As BigLaw firms continue to go by the wayside, boutique law firms might be the way of the future for the legal industry. Stay tuned!