Document Type
Article
Publication Date
Fall 2011
Abstract
How are relationships between corporate clients and law firms evolving? Drawing on interview and survey data from 166 chief legal officers of S&P 500 companies from 2006-2007, we find that-contrary to standard depictions of corporate client-provider relationships-(1) large companies have relationships with ten to twenty preferred providers; (2) these relationships continue to be enduring, and (3) clients focus not only on law firm platforms and lead partners, but also on teams and departments within preferred providers, allocating work to these subunits at rival firms over time and following "star" lawyers, especially if they move as part of a team. The combination of long-term relationships and subunit rivalry provides law firms with steady work flows and allows companies to keep cost pressure on firms while preserving relationship-specific capital, quality assurance, and soft forms of legal capacity insurance. Our findings have implications for law firms, corporate departments, and law schools.
Recommended Citation
Michele M. DeStefano, John C. Coates, Ashish Nanda, and David B. Wilkins, Hiring Teams, Firms, and Lawyers: Evidence of the evolving Relationship in the Corporate Legal Market, 36 Law & Soc. Inquiry 999 (2011).
Included in
Evidence Commons, Insurance Law Commons, Law and Gender Commons, Legal Ethics and Professional Responsibility Commons, Legal Profession Commons
Comments
Symposium in Honor of John P. Heinz