May 16, 2013

LA Daily Journal Features Greenberg Gross As "Legal Bigwigs" At Forefront of New Trend

LA Daily Journal
by Alexandra Schwappach
May 16, 2013
Midsize firms used to have to watch for competition in one direction – up to big firms. In the constant tussle for market share, middle-of-the-road firms tried grabbing work from their bigger peers, while big firms sometimes tried to snag midsize work. But a new trend is forcing mid-level firms to look out for competition in another direction – down to small firms.
It wasn’t until after the recession that clients began taking smaller law firms much more seriously as a viable way to keep costs low. And now that the market is experiencing a boom in smaller law firms created by big firm defectors, small firms are increasingly putting a squeeze on their midsize counterparts.
Laura V. Farber, a partner at the 20-Iawyer Hahn & Hahn LLP and immediate past chair of the American Bar Association’s solo, small firm and general practice division, said boutiques and small firms are much more competitive because they’re going after the same clients as midsize and big firms – but asking for less.
“There’s no question in my mind that midsize firms that used to compete with other midsize firms are now going to be looking at smaller firms and boutiques,” she said. “Midsize firms have a lot to be worried about”
Read the full Daily Journal article (PDF)