There’s not much that the large law firms have as an advantage over mid-size and small firms. Their bloated overhead, high-priced rent, and unnecessary bureaucracy, all translates into higher operating costs passed on to clients.
There is one thing which does hold large law firms apart from the rest, and that’s the decades of institutional knowledge which is internally accumulated. As much as the law is constantly changing and evolving, much of it still remains the same, or is easily updated from precedents that have recently become obsolete. This realm, of internal legal memos and precedents, is the area where . . . [more]