Articles Posted in Law firms and legal practice

You may have heard that last week I left DLA Piper to start my own law firm. I am humbled and appreciative of all the support that I have received from many of you. Thank you.

As an antitrust attorney, I analyze markets every day. Even when I’m not working, I do it. I can’t help myself. When I go to the grocery store and stare at a shelf of products, my three-and-a-half-year-old son—who is my grocery-shopping buddy—might think I am carefully determining the best product to buy. (Well, he actually is probably wondering when we are going to come across more food items with cartoons on them).

Instead, I find myself looking at the difference in prices and the placement of companies’ products on the shelf, and thinking about, for example, whether loyalty discounts or category management played a role.

The same compulsion to analyze markets is now occurring in my own market—the market for legal services—now that I am participating in it as an owner rather than an employee. Thus, I thought it would be fun to periodically blog about my experiences moving from biglaw to my own law firm.

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Supreme CourtI am excited to announce that after a dozen years of big-law practice, I am leaving DLA Piper to start my own law firm—Bona Law PC. I believe that through Bona Law I can offer clients the legal services of the best law firms, but in a much more efficient way. I am headquartered in the San Diego, California area, but expect to continue to practice nationally.

My family, friends, and former co-workers have commented lately that I seem very happy—maybe even giddy. It is true. I am as enthusiastic about the practice of law—and life—as I have ever been. I have a wonderful supportive family and am about to embark on a journey that marries my entrepreneurial spirit with a profession that I love. I feel like I am living the dream.

After years of analyzing other markets for antitrust matters, I finally sat down and analyzed my own. My conclusion is the legal market has structurally changed such that the largest law firms are concentrating more and more on their biggest clients and developing such diseconomies of scale that they are no longer competitive for most businesses. Unless a company can provide these law firms with a minimum volume of work, the firms are unlikely to offer a competitive price for their services.

First, matters with less volume could create conflict issues, which are a significant and costly issue for large law firms. Without sufficient volume, it just isn’t worth it for firms to discount their already high prices.

Second, large law firms have huge fixed overhead—leases, management, marketing departments, etc. Moreover, many (probably most) of them have excess capacity, which means that they are paying a lot of attorneys that aren’t billing as many hours as the firm would like. So volume is a big deal.

This is where I come in.

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