Monday, May 7, 2012
Businesspersons in Law Firms
Interesting article in today's Wall Street Journal on the increasing influence of businesspersons in managing law firms -- Practicing Business: Professional Managers Gain Wider Presence at Law Firms, by Jennifer Smith and Ashby Jones. As defense firms expand their offices globally and sometimes exceed a billion dollars in annual revenue, business expertise is clearly beneficial, but must be integrated with professional ethical responsibilities and firm culture. Not discussed in the article are the possible benefits to plaintiffs' firms in including businesspersons. Increasingly, plaintiffs' firms in mass torts are collaborating globally, as well, and might benefit from specialized business insight.