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Admitting New Partners and Classes of Partners As the Demand for Legal Services Continues to Lag

By Joel A. Rose

A new survey of law firm leaders reveals that partners at a majority of the firms don't have enough work, and that demand for legal services is lagging behind pre-recession levels. Yet, despite this gloomy assessment, law firm leaders report that their partners are resistant to change.

Unfortunately, there is no conventional wisdom about when the current lag will turn around. As a result, these uncertain times have served as an excuse for many firms of all sizes and specialties to review the breadth and depth of the profitability (costliness) and expertise of their lawyers in various practice areas, and seek to recruit attorneys who control work of clients in practice areas that are strategically important.

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