Firms Rethinking Business Models In Recession

By Shannon Henson

Law360, New York (April 29, 2009, 12:00 AM ET) -- As law firms struggle to make their way through these tough economic times, many are reconsidering everything about their operations and business models — including their governance structure.

While legal consultants said few firms had made changes to their governance so far, all agreed that law firms were reassessing every aspect of their businesses. Some consultants, however, cautioned that the middle of a recession might not be the best time for wholesale changes because no one knows yet where the chips are going to fall....
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