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Law Firm Price Wars Break Out as Some Try ‘Loss Leader’ Bids for Work

Posted Nov 19, 2009, 11:24 am CST
By Debra Cassens Weiss

Price wars have broken out among large law firms.

Desperate to bring in new business, some firms are offering “loss leader” bids that may turn out to be unsustainable, according to managers of 15 large law firms responding to a survey summarized at the Legal Business Development blog.

Legal business consultant Jim Hassett writes that he learned of the price wars when he decided to throw in a “loss leader” question in an alternative-fee survey of AmLaw 100 firms. He included the question on just 15 surveys, and all 15 firms responded that they had seen the price wars, he writes on his blog.

Hassett asked this question:

“There is a lot of price pressure these… Continue reading...



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