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Is Your Lawyer Too Concerned About Making Money?

Published by on December 23, 2009

We were intrigued to read last week about a recent study on the state of the legal industry.  Frequent readers are already aware of our series of posts on law firm economics.  One graph from the study, however, caught our attention because it visually portrayed what we perceive as the dichotomy between the interests of […]

We were intrigued to read last week about a recent study on the state of the legal industry.  Frequent readers are already aware of our series of posts on law firm economics.  One graph from the study, however, caught our attention because it visually portrayed what we perceive as the dichotomy between the interests of clients and the self-interest of many lawyers.  More after the break.

Here is the chart:

 

Top Ten Issues

The dark blue line are “corporate counsel.”  The light blue line are “private practice” attorneys.  Who is more concerned about law firm profitability?  Who is more concerned about pricing?

Another part of the study shows a marked difference in opinion between the two groups when asked whether they agree with the statement that “law firms are too profitable”:

Law Firms Are Too Profitable

When the top 19 law firms in the U.S. see profits per partner of over $2 million, what is your conclusion?

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