Is even bigger law firms? Orrick, Herrington & Sutcliffe and Akin Gump Strauss Hauer & Feld, two megafirms already, are having merger discussions to create a new $1.5 billion, 1,800-lawyer firm.
There have been a lot of big firm mergers in 2010 as big law firms struggle their way through the new economy. Whether these mergers make economic sense is unclear. I do think there is a tendency for big law firms having trouble – trouble is relative, of course, profits per partner were well over $1 million at both firms last year – to find solace in getting getting bigger although it may not make them stronger.