• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Valize
  • Subscribe
  • Contact
Rita McGrath Group

Rita McGrath

Author. Speaker. Consultant.

  • Home
  • Learn About Rita
  • Work with Rita
  • Rita’s Work
    • Podcast
    • Books
    • Videos
    • Articles
    • Press
  • Thought Sparks
  • Events

August 26, 2008

Even law firms can use new business models - Quinn Emanuel Urquhart Oliver & Hedges

An article in Fast Company’s September issue features a Los Angeles law firm that is making big bucks with a business model that is foreign to traditional firms.  For some years, I’ve worked with the strategy groups of law firms, and discovered, as one of my colleagues points out, that the basic business model of the law firm has not changed since the times of Charles Dickens! 

Among the interesting aspects of the firm’s strategy are an unrelenting focus—they just do business litigation.  And, even more interesting, they don’t shy away from jury trials, which most large established firms don’t pursue, preferring settlement as a safer, more comfortable option.  A little arrogant?  Well, maybe.  According to the magazine article, their web site notes that “Justice may be blind, but she sees it our way 90% of the time.”  By sometimes offering contingency-only deals to clients with potential awards, the firm is able to generate outsize profits per partner, the gold standard measure in the law business.

As observers of the law have noted that a decline in the number of jury trials means, among other things, that few public trials to set precedents are available, this company’s approach might provide an interesting counterweight.  An intense, hard-working pace characterizes the company which is about as far away from the ‘billable, safe, hourly’ mindset of your average law firm as I can imagine.  Their success is particularly poignant when even the Wall Street Journal notes that for most young lawyers, times are nothing but tough with law school no longer representing the ticket to success that it once perhaps did. 

Filed Under: Innovation

Primary Sidebar

Previous Sparks

  • 2023
    • March
    • February
    • January
  • 2022
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2021
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2020
    • December
    • November
    • October
    • September
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2019
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2018
    • November
    • October
    • September
    • July
    • June
    • April
    • March
  • 2017
    • July
    • June
    • May
    • March
    • January
  • 2016
    • December
    • October
    • August
    • July
    • June
    • May
    • March
    • February
    • January
  • 2015
    • November
    • October
    • September
    • June
    • April
    • March
    • February
  • 2014
    • December
    • November
    • October
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2013
    • December
    • November
    • October
    • September
    • August
    • July
    • May
    • April
    • March
    • February
  • 2012
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2011
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2010
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2009
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2008
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2007
    • December
    • November
    • October
    • September
    • August
    • June
    • May
    • April
    • March
    • February
    • January
  • 2006
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2005
    • December
    • November
    • October
    • September
    • August
    • July
    • April
    • March

Topics

  • Academic Concerns
  • Articles
  • Business School
  • Business Start Ups / Entrepreneurship
  • Business Strategy
  • Careers
  • Case Studies and Applications
  • Checkpoints
  • Competition
  • Complexity
  • Customer insight
  • Digital
  • Discovery Driven Planning
  • Event Announcements
  • Executive Education
  • Friday Fireside Chat
  • Fun
  • Growth
  • Growth Options / Real Options
  • Individuals
  • Innovation
  • Innovation Flops
  • Innovation Maturity Scale
  • Insights and ideas
  • Jobs
  • Leadership
  • News Archives
  • Opportunities
  • Profitable Organic Growth
  • Reviews
  • Seeing Around Corners
  • Strategy Dynamics
  • Strategy Execution
  • Technology
  • Thought Sparks
  • Tools
  • Transient Advantage
  • Uncategorized
  • Valize
  • Videos
  • Women's leadership

Footer

For Subscribers

  • Opportunity Portfolio Toolkit
  • Seeing Around Corners Workshop Guide
  • Get Premium Content with Thought Sparks!

Connect with Rita

Rita McGrath Group
P.O. Box 7286
Princeton, NJ 08543

  • © Copyright 2004-2023 Rita McGrath Group. All Rights Reserved.
  • • Privacy Policy
  • Created with ✨ by Moxie Design Studios
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Privacy Policy
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
Scroll Up