Virtual Law Firms May Rise Out Of Tougher Economy

Law360, New York (October 31, 2008, 12:00 AM EDT) -- Virtual law firms have not reached a tipping point yet, but a poor economy may put pressure on the legal industry to seek out alternatives to the traditional brick-and-mortar model.

While these firms — made up of a web of specialized attorneys connected by telecommunications rather than a physical office — continue to draw skepticism, true believers say they have a higher profit margin than traditional firms and the flexibility to depart from the hourly billing rate.

Companies may be more willing to turn to virtual...
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