Law Firms with Lobbying Shops Profit, Even as They Battle Pay Issues
Six of the top 10 lobbying groups last year were tied to law firms, showcasing the benefits of the hybrid operations.
The Washington Post lists the law firm lobbying groups that made the top 10: Patton Boggs; Akin Gump; Brownstein Hyatt; Holland & Knight; K&L Gates; and Williams & Jensen. Akin Gump, for example, had $35.6 million in lobbying revenue last year, nearly double the amount it earned from lobbying a decade ago.
The newspaper talked to law firm lobbyists who are optimistic about the future. Says the Post: “As traditional lobbying-only outfits see their bread-and-butter earmark work evaporating and the profession scrutinized by both Congress and the Obama administration, those within these hybrid enterprises say law firm lobbying groups, with the resources and experience of hundreds of lawyers at their disposal, are poised to shine.”
One problem for law firms is how to reconcile the different ways lawyers and lobbyists bill for their time, the story says. While lawyers have typically billed by the hour, lobbyists usually charge fixed fees or bill on a retainer basis. Many law firms seek to avoid treating lobbyists as second-class citizens by allowing the lobbyists to advance in much the same way as lawyers.
Previous coverage:
ABAJournal.com: “As BigLaw Struggles to Provide Value, Lobbying Firms Are In the Money”
