Organized Money

The Business of Big Law

23 snips
Apr 3, 2025
Jonathan Kanter, former head of the Antitrust Division and big law partner, delves into the intricate ties between major law firms and politics. He discusses how recent executive orders from the Trump administration have created a chilling effect on legal representation, especially against government actions. The conversation shifts to the ways big law has evolved from academia to a profit-driven focus, impacting their dual roles as legal advisers and political players. Kanter also highlights the ethical dilemmas faced by firms in maintaining integrity amid profit pressures.
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INSIGHT

Evolution of Big Law

  • Big law firms have evolved, shifting from a tenured faculty model to a profit-driven, free-agency system.
  • This change started 30 years ago as corporate and litigation practices began recruiting lateral hires.
ANECDOTE

What is Big Law?

  • Big law firms are full-service firms catering to corporations, offering various legal specialties.
  • Historically regional, these firms consolidated as businesses centralized, especially in New York.
INSIGHT

Big Law's Influence

  • Big law firms hold significant legal credibility and influence, shaping political and legal ecosystems.
  • Politicians and judges often come from these firms, and their opinions carry weight, creating a shadow government.
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