General Counsel Focus on Value, Not Pedigree
General counsel of major companies are moving away of the most pedigreed law firms and are instead focusing on value. In Dina Wang and Firoz Dattu's "Why Law Firm Pedigree May Be a Thing of the Past" in Harvard Business Review, they analyze AdvanceLaw's survey of general counsel at 88 major companies. AdvanceLaw (founder Firoz is an HLS classmate of mine) is dedicated to legal market transparency by helping general counsel participants "vet law firms on the basis of quality, client-service, expertise, efficiency, innovation, and attitude."
AdvanceLaw's survey shows that -- under the right circumstances -- 74% of surveyed general counsel are willing to go with the less pedigreed law firm. As legal talent is less concentrated at the Magic Circle and AmLaw 20 law firms, smaller firms (and their individual lawyers -- that means you!) are increasingly successful in marketing themselves as BigLaw quality at a fraction of the price.