Litigation is not the answer – usually
Forty years after the Pueblo was captured by North Korea, the sailors received judgment for damages. This merely gives the sailors a piece of paper. Go collect! Not, that’s the rub. And ask the Goldman family how much of their 33 million dollar judgment they’ve received from the assets of O.J. Simpson.
In the beginning of 2009, we need to hearken back to the words of Rodney King, "Can’t we all just get along?" The obvious answer is "no." But, litigation may not be the best answer either; it’s certainly not the only answer.
Law firms, even the major law firms (like Heller used to be), whose litigation work makes up more than 50% of their revenue, will need to focus on greater diversity in their offerings if they want to protect their future. More than 10% in any one area always puts a business at risk. Sometimes the risk pays well; sometimes it doesn’t. Just ask the lawyers who were at Heller about the high times and then the implosion.Tags: Cash & Finances, Management, Personal Thoughts