ABA Journal


Business of Law

How boutique firms can take on BigLaw (video)

Aug 15, 2013, 05:52 pm CDT


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By Terry on 2013 08 16, 4:08 pm CDT

Michael's comments on construction practice, which is correct. The practice involves many aspects of the industries. Patent, trademark and bankruptcy probably would involve smaller and medium transactions for a boutique firm. Being a merchant banker with legal background specializing in mergers and acquisitions and corporate finance, my experiences in early 90's with Fortune 100 corporations and also with one of the largest privately held company in Kansas City, they always engaged a brand named BigLaw to handle the agreement and transactions. BTW, it was not because they are much superior than specialized boutique type of law firm. Actually, we used to "joke" by saying, "is there any lawyer in this room?" (we meant by BigLaw), while we were strategizing and structuring a transaction or deal. After perused and analyzed the transaction and with final decision on risk management, then we deliver structured transaction to the BigLaw, and I would advise to engage either one of the two prominent consulting firms which are located in Boston and Chicago. Their opinions and write-ups would support our decision where a publicly held corporation tend to have one to protect possible shareholders' law suit. A boutique law firm, in my view, should have another practice on M&A, which always provide opportunities when the economy is either in "bull" or "bear".

By Jurist on 2013 08 16, 5:56 pm CDT

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