2015
Oct. 14, 2015
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The most exciting development in the legal industry in recent years has been the rise of smaller, often hyper-focused law firms. First technology and then the recession allowed these firms to compete in a market traditionally the province of large firms with significant resources. Lawyers at these small firms are especially competent and passionate about new possibilities. They are tackling complicated and often huge matters unavailable to them just a decade ago. A much debated topic during the recession was whether the work being moved to smaller firms by clients looking to save money would flow back to larger firms once the economy returned. But small, hyper-focused firms demonstrated they could provide the same level of service as bigger firms more efficiently and less costly. The economy is coming back and much of that work has remained with them. The Daily Journal created this supplement as part of a larger effort to report on these firms. For this issue we looked at law firms that are hyper-focused, not offering full service but providing superior service in a niche. What we found are firms working on the most cutting edge matters. Their situations aren't easy. Fewer resources and less infrastructure often require they perform many tasks to deliver the service their clients require. But they are innovative and entrepreneurial -- and they are succeeding. Their lawyers often compare their situations to the parable of David and Goliath and the analogy is apropos. Reading through this issue you'll see many instances in which these firms went against terrific odds and killed giants. So here's to the Davids of the legal industry, and their slingshots!