Quote:
Originally Posted by Hank Chinaski
You're last position is probably one with such stakes, it would be one of the last to move away from Mega-law. I've seen movement on many fronts.
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The movement can go both ways. In my area, a number of years back, there was a concerted effort by a number of leading venture firms to move work, especially company-side work, out to lower cost firms. The same thing happened in a number of Universities doing tech transfer work. Both movements came after a couple studies had shown that legal costs were among the most rapidly rising, difficult to control costs in venture-backed companies.
But as fund and deal sizes have increased, the pendulum has shifted back some, and I'd say we're closer to the "hire the big firm to shield yourself from blame" approach than we were five years ago. (That said, a client who had recently brought in one of top people at one of the top firms to do a critical deal where they wanted to be free from blame just fired them and hired me, because they were taking blame from the big firm screwing up.)
