Wednesday, January 05, 2005

Hiring lawyers from big firms

Patrick Schiltz, of Notre Dame Law School wrote in "On Being a Happy, Healthy and Ethical Memeber of an Unhappy, Unhealthy, and Unethical Profession":

I am as critical of big firms as anyone, but I
don’t think it can be denied that, on average, big firm lawyers are
more talented and do better work than lawyers in other practice settings. There are, of course, tens of thousands of exceptions—lawyers who do not practice in big firms who are superb, or lawyers who do practice in big firms who are incompetent. But if I had to choose between two law firms to represent me in an important matter, and I knew nothing about the two law firms except that one had 250 lawyers and the other had five, I would hire the big firm in a second. So would most other lawyers.

Classic case of information asymmetry. Can the internet help?


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