Business of Law
How boutique firms can take on BigLaw (video)
Posted Aug 15, 2013 11:52 AM CST
By Lee Pacchia
Michael De Chiara, founding partner at Zetlin & De Chiara LLP talks to Bloomberg Law's Lee Pacchia about guiding his boutique construction law firm through turbulent times in the legal profession.
"As goes construction, as goes the U.S. economy," says De Chiara. "We all know what happened in 2008. As a result of that, the construction industry took a tremendous hit."
As part of the economic downturn, BigLaw firms whose business models called for hundreds of lawyers billing thousands of hours for single transactions "seem to be waning," De Chiara says. "But specialty firms like ours–things like construction, or patent, trademark or bankruptcy–I think have a much more vibrant future."
See the video interview here.