The ABA Journal and New York Law Journal have interesting stories about how the downturn in work at large law firms has opened doors for small firms that offer specialized expertise at competitive rates. The article focuses on the New York market, but the factors apply in any legal market:
Despite the struggling economy and Wall Street layoffs, some small law firms in New York are seeing their business boom.
Among the reasons why are the significantly lower hourly rates charged by these law boutiques and a growing number of small businesses being launched by laid-off workers that need legal services, reports the New York Law Journal. Its article is reprinted by New York Lawyer (reg. req.).